The Britam Holdings PLC Board of Directors on Friday announced the appointment of Charles Kimani Njuguna as the Acting Group Managing Director.

Njuguna takes over from outgoing MD, Tavaziva Madzinga, whose resignation was accepted by the Britam Board of Directors of the Company effective January 14, 2022.

Britam Holding PLC Board Chairman Kuria Muchiru lauded Njuguna’s track record.

“We believe that Mr. Njuguna is the right person to drive the organisation forward during this transition period. Mr. Njuguna is an accomplished executive leader with more than 20 years of experience in the financial sector. His experience in implementing the Group’s turnaround strategies has contributed positively to our financial performance,” he said.

Njuguna joined Britam in March 2021 as the Finance Director.

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He has over 20 years of experience in the Financial Services sector where he has managed transformational projects, having worked with ABN Amro Bank, GT Bank, Old Mutual, Family Bank as the Chief Financial Officer, and Faulu Micro-Finance Bank as the Managing Director.

Njuguna holds an MBA in Finance from the University of Nairobi and a BSc (Accounting) from USIU and is a member of the Institute of Certified Public Accountants Kenya and the Institute of Certified Public Secretaries Kenya.

Madzinga is behind the transformation of the Britam Group and seen it return to profitability in 2021 and a VER program that resulted in Sh500 million in savings per annum.

Tavaziva Madzinga. PHOTO/COURTESY

The Group says it is now re-organizing and energizing to implement a client-centred operation to serve its local and regional customers outside Kenya to drive further growth.

“Britam is today fully restructured along business segments replacing the legacy line of business approach. Our priority is to accelerate the implementation of our ‘Epic2 One Britam Experience’ strategy where customers and partners will experience unrivalled services and innovations,” Njuguna added.

Muchiru confirmed that the Board had embarked on a search for a substantive Group Managing Director, a process that he says will be concluded in due course.