Britam Channels KSh2.4 Billion to Local and Minority Suppliers

Britam Channels KSh2.4 Billion to Local and Minority Suppliers in 2024

Supporting Inclusive Procurement and Local Growth

Britam Holdings Plc spent KSh2.4 billion on local and minority-owned suppliers in 2024, underlining its firm commitment to inclusive procurement. This milestone is captured in the company’s newly released 2024 Sustainability Report.

During the year, Britam rolled out targeted measures to boost supplier diversity. These included a 50% discount on prequalification fees for women- and youth-led businesses and full fee waivers for suppliers owned by persons with disabilities (PWDs). As a result, minority-owned firms made up 21% of prequalified suppliers, with 10 led by PWDs.

“Partnering with vetted domestic suppliers under ESG standards allowed us to create real economic impact while raising sustainability benchmarks across our supply chain,” said Group CEO Tom Gitogo.

Britam Channels KSh2.4 Billion to Local and Minority Suppliers in 2024

Environmental and Social Impact Highlights

The report also outlines Britam’s environmental progress. The company avoided 77.82 tonnes of carbon emissions through solar installations at Britam Centre, cutting energy costs by KSh2.17 million.

It added EV charging stations and installed reverse osmosis systems in 11 branches to reduce plastic waste. Additionally, Britam pledged to plant 60 million trees across Africa by 2030, reinforcing its climate goals.

Socially, the firm grew its microinsurance portfolio to cover 4 million people, including women, youth, and informal workers.

It doubled the reach of its chronic illness care programme—saving KSh5.2 million—and expanded maternal and mental health support through the Lea Mama initiative, reaching over 1,200 uninsured women.

Britam’s customer Net Promoter Score in Kenya rose 17%, reaching 42, thanks to AI-powered support tools.

Driving Governance and Sustainability Culture

On governance, women now make up 45% of board members across Britam subsidiaries, with four boards chaired by women. The firm also earned 1st Runner-Up in the financial sector category at the 2024 Champions of Governance Awards.

Britam trained 90% of staff on anti-corruption policies and contributed KSh4.07 billion in taxes. The board has also embedded ESG oversight in its governance frameworks.

“Our long-term focus is creating value for society. Sustainability is not an add-on—it’s core to how we do business,” Gitogo concluded.

https://africabusinessnews.co.ke/britams-betalab-invests-in-oye-to-support-boda-boda-rider/