BRITAM launches in Rwanda

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BRITAM launches in Rwanda

The management of Britam insurance has said that the company will focus on training of local actuators and education of the community besides providing access affordable insurance services to SME’s.

The announcement was made by Britam’s Regional Director, Stephen Wandera, during the official launch of the company’s activities in Kigali over the weekend. The company was officially accepted into Rwanda by the minister of Trade and industry, Francois Kanimba.

Britam is a British- American investments company which offers a variety of financial services. Wandera said that besides insurance package and financial advisory services, the company will develop the local market.

Wandera said that this initiative will enable the local market to perform well in the insurance sector, and create a good culture of insurance activities in the long run.

Dr. Benson Wairegi, the Britam Group Managing director said that the company is committed to providing Rwandan clients with services and financial expertise to help meet their financial goals from the company’s share capital of over Rwf2billion.

We have been keen on expanding into emerging economies like Rwanda. Rwanda completes our current footprint in the region” Wairegi said.

Recent statistics place Rwanda’s insurance penetration at 2.3 percent, which is below the globally recommended standards. Britam believes that its entry will bridge the divide by providing innovative and unique insurance solutions- some of them-tailor-made to the needs of Rwandans.

Minister Kanimba said that he appreciates investor’s interests in Rwanda and that the government would provide full support to such initiatives aimed at propelling the economy.

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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