Local suppliers reap from Sh2.4 billion Britam jobs

Britam Holdings gave business worth Sh2.4 billion to local and minority-owned suppliers in 2024, according to disclosures in its 2024 Sustainability Report, indicating "commitment to inclusive procurement and ESG-aligned business practices".

The firm implemented targeted supplier inclusion measures during the year, including a 50 per cent discount on prequalification fees for women- and youth-owned businesses and full exemptions for suppliers owned by persons with disabilities (PWDs).

Minority-owned businesses accounted for 21 per cent 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 Britam Group CEO Tom Gitogo.

The report released on Monday outlines additional progress on Britam's environmental and social targets.

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The financial services firm said it avoided 77.82 tonnes of carbon emissions through solar installations at Britam Centre, saving Sh2.17 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, a bold pledge reinforcing its long-term climate action agenda as it marks 60 years.

On the social front, Britam expanded its microinsurance portfolio to cover over four million people—primarily informal sector workers, women, and youth.

It also doubled the reach of its chronic illness care programme, saving Sh5.2 million in healthcare expenses, and extended maternal and mental health support to over 1,200 uninsured women through its Lea Mama initiative.

The report highlights significant corporate governance gains, with 45 per cent female board representation across Britam’s subsidiaries. Four 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 per cent of staff received anti-corruption training. The company also disclosed KSh4.07 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.

“As a business built on trust, our focus is not only on short-term returns but on long-term value creation for society,” Gitogo said. “Sustainability is not a side initiative; it’s a strategic imperative.”