NAIROBI, Kenya— Financial services group Britam Holdings has reaffirmed its commitment to sustainability with a Sh2.4 billion investment in local and minority-owned suppliers in 2024 a move aimed at advancing inclusive growth, climate resilience, and financial access across the region.
The expenditure, detailed in Britam’s 2024 Sustainability Report, marks a significant milestone in the firm’s ESG (Environmental, Social, and Governance) journey.
It reflects a deliberate shift in procurement, with 21% of all prequalified suppliers coming from minority-owned businesses, including 10 suppliers led by persons with disabilities.
As part of its inclusive procurement drive, Britam introduced a 50% discount on prequalification fees for women- and youth-led enterprises and offered full exemptions for PWD-owned suppliers.
“By working closely with domestic suppliers vetted using ESG criteria, Britam created downstream economic opportunities while raising sustainability standards across our supply chain,” said Tom Gitogo, Group Managing Director and CEO.
ESG is Strategy, Not Side Work
In a special radio segment with 11 FM, Gitogo spoke candidly about Britam’s evolving approach to sustainability:
“What we’ve done is make sustainability central to our business not a CSR offshoot, but part and parcel of our corporate strategy,” he said.
“We’re doing this because it’s the right thing to do. And because companies that take ESG seriously are proven to be more resilient to economic shocks.”
Gitogo said the firm is particularly focused on reaching underserved communities the uninsured, informal workers, rural farmers through affordable microinsurance products and digital distribution.
Climate Resilience and Renewable Energy
On the environmental front, Britam avoided 77.82 tonnes of carbon emissions in 2024 through solar installations at its headquarters saving Sh2.17 million in energy costs. The firm also rolled out EV charging stations and reverse osmosis water systems in 11 branches to reduce plastic use.
“We’re not just adopting solar in our own offices we’re investing directly in renewable energy projects. If a developer has a credible clean energy project in Uganda or Western Kenya, we’re backing them,” said Gitogo.
Serving the Vulnerable and Navigating Policy
Britam’s microinsurance portfolio now covers 4 million people, many of them women, youth, and informal workers. Its chronic illness care program doubled in reach, saving Sh5.2 million in healthcare costs, while the Lea Mama initiative extended maternal and mental health services to 1,200 uninsured women.
The company also reported Sh4.07 billion in tax contributions, and a 17% rise in Kenya’s Net Promoter Score (NPS) reaching 42 thanks to AI-powered customer support.
Gitogo commended the Insurance Regulatory Authority for embracing reforms that enable wider insurance distribution, including new microinsurance rules that allow Britam to leverage community influencers, shopkeepers, and even church leaders to reach underserved populations.
