Britam Holdings gave Ksh. 2.4 billion to local and minority owned suppliers in 2024, reflecting the firm’s commitment to inclusive procurement and ESG-aligned business practices. The disclosure is part of Britam’s 2024 Sustainability Report.
Britam implemented targeted supplier inclusion measures during the year. They include a 50% discount on prequalification fees for women and youth owned businesses and full exemptions for suppliers who are persons with disabilities (PWDs). Minority owned businesses accounted for 21% of all prequalified suppliers, including 10 that self-identified as PWD-led.
“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 CEO.
Britam’s report outlines additional progress on its environmental and social targets. The company avoided 77.82 tonnes of carbon emissions through solar installations at Britam Centre, saving Ksh. 2.17 million in energy costs. It also installed electric vehicle charging stations and reverse osmosis systems in 11 branches to reduce reliance on plastic bottled water. Britam has also committed to planting 60 million trees across Africa by 2030.
On the social front, Britam expanded its microinsurance portfolio to cover over 4 million people, primarily informal sector workers, women, and youth. It also doubled the reach of its chronic illness care programme, saving Ksh. 5.2 million in healthcare expenses, and extended maternal and mental health support to over 1,200 uninsured women through its Lea Mama initiative.
Customer satisfaction also improved. Britam’s Net Promoter Score rose by 17% year-on-year in Kenya, reaching 42, aided by AI-driven omnichannel support tools.
The report highlights significant corporate governance gains, with 45% female board representation across Britam’s subsidiaries. 4 out of the 12 Britam Subsidiaries Boards are chaired by women. Britam was also named 1st Runner-Up in the Financial Sector at the Institute of Certified Secretaries’ Champions of Governance Awards for year 2024.
ESG oversight was formally embedded in Board Committee Terms of Reference, and 90% of staff received anti-corruption training. The company also disclosed Ksh. 4.07 billion in tax contributions. Britam is keen to deepen its ESG impact by advancing climate resilience, expanding inclusive insurance, and driving financial innovation while strengthening governance, embedding a sustainability-focused culture, and fostering strategic stakeholder partnerships.