Insurer Britam plans to invest up to Sh1.9 billion ($15 million) in financial and insurance technology startups in Kenya and other markets where it operates, as it expands its venture capital arm amid increasing competition from non-traditional insurers.
Through its incubation hub BetaLab, the insurer plans to invest up to Sh1.9 billion in startups across the seven markets where it operates over the next four years, using a mix of equity and debt financing.