Kenya’s former head of civil service Francis Muthaura. FILE | AFRICA REVIEW
Financial services company Britam has
appointed Mr Francis Muthaura board chairman, replacing long-serving
Nicholas Ashford-Hodges, who has resigned from the post.
Mr
Muthaura, who served as the head of civil service for years in the
Kibaki administration, assumes leadership of the company board having
been appointed director in August this year.
The career
diplomat — who has served in all post-independence governments except
the current one — joins the Controller of Budget, Ms Agnes Odhiambo, and
Transport Principal Secretary Nduva Muli on the Britam board.
Internationally
“He
has vast public and private sector management and leadership experience
gained through assignments both locally and internationally,” said a
statement from the company.
The insurance firm is among
companies that have influential individuals sitting on its board,
apparently seeking to leverage on their vast experience in public
management.
Recently, Britam announced its intention to
purchase 99 per cent of Real Insurance, a mid-sized insurer, which has
business in Tanzania and in southern Africa, a move that has
considerably pushed up its share price at the bourse.
Nearly double
The
Nairobi Securities Exchange listed company’s shares rallied to Sh16 by
close of trading last week, nearly double the Sh9 at which it sold its
shares to investors in an initial public offer over two years ago.
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