Britam Holdings Plc has launched its 2024 Sustainability Report, disclosing a KSh2.4 billion spend on local and minority-owned suppliers, one of the largest such commitments in Kenya’s financial sector to date. The report, released this week, signals the insurer’s deepening alignment with environmental, social, and governance (ESG) priorities, and underscores the shifting role of insurance firms in shaping Africa’s sustainable development landscape.
The investment reflects Britam’s deliberate push to foster equity and inclusivity across its value chain. Through progressive procurement policies, the firm implemented a 50 percent reduction in prequalification fees for women- and youth-led enterprises and offered full exemptions for suppliers owned by persons with disabilities (PWDs). As a result, 21 percent of prequalified suppliers in 2024 were minority-owned, 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 Group Managing Director and CEO Tom Gitogo.
Environmental performance featured prominently in the report. The company avoided 77.82 tonnes of carbon emissions through solar installations at Britam Centre, translating into KSh2.17 million in energy cost savings. In a further bid to reduce its ecological footprint, Britam introduced electric vehicle charging stations and reverse osmosis water systems at 11 branches, cutting reliance on single-use plastic bottled water. As part of its 60th anniversary milestone, Britam also pledged to plant 60 million trees across Africa by 2030, a move that aligns with its climate action ambitions under frameworks like the UNEP FI Principles for Sustainable Insurance.
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Britam’s social impact also expanded in 2024. Its microinsurance portfolio grew to serve more than 4 million people, many of them in the informal sector—underscoring the company’s role in bridging gaps in access to financial protection. The insurer doubled the reach of its chronic illness care programme, yielding KSh5.2 million in healthcare savings, while its Lea Mama initiative extended maternal and mental health services to over 1,200 uninsured women.
The company also made strong corporate governance gains. Women held 45 percent of board seats across Britam’s 12 subsidiaries, with four boards chaired by women—a benchmark that places the firm ahead of regional and global averages. The insurer earned 1st Runner-Up in the Financial Sector category at the 2024 Champions of Governance Awards. ESG oversight is now embedded in board committee terms of reference, and 90 percent of staff received anti-corruption training, reinforcing Britam’s commitment to ethical conduct. It also disclosed KSh4.07 billion in tax contributions, affirming its fiscal transparency.
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The report paints a picture of a company not merely adapting to sustainability demands, but actively shaping them in the African insurance context. “Our focus is not only on short-term returns but on long-term value creation for society,” said Gitogo. “Sustainability is not a side initiative; it’s a strategic imperative.”
The launch of the report comes amid rising ESG expectations globally and a regulatory pivot in Africa toward sustainable insurance. Countries like South Africa have rolled out TCFD-aligned climate disclosure rules, while Nigeria and Kenya are developing ESG frameworks for their insurance industries. Investors, too, are increasingly demanding ESG-aligned portfolios, and insurers are under growing scrutiny to demonstrate transparency, resilience, and social impact.
Britam’s approach, anchoring ESG at the core of its strategy rather than treating it as an add-on—may provide a blueprint for other African insurers. Its procurement model proves that inclusive sourcing can coexist with business performance. Its solar investments and emissions savings show that legacy firms can green their operations. And its innovations in microinsurance demonstrate how ESG can drive product relevance and market growth.
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Despite these efforts, Insurance penetration across Africa is still low, hovering around 3 percent compared to over 7 percent globally. Informal economies dominate, data gaps persist, and regulatory harmonization is incomplete. For ESG to become a lever for transformation, insurers will need to go beyond compliance, designing solutions for climate-vulnerable communities, supporting green infrastructure, and embedding sustainability into underwriting and investment decisions.
Britam’s report offers evidence that these ambitions are achievable. For Africa’s insurance industry to thrive in the evolving global financial ecosystem, sustainability must become more than a reporting requirement—it must be the business model itself.
Read Britam’s sustainability report, developed by Impact Africa Consulting Limited.
