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Britam launches digital investment tool to shore up revenue
- It has been leveraging technology and partnerships to increase investment and insurance penetration in Kenya.
- The platform will see users make regular contributions from as low as Sh200
- Listed diversified financial firm Britam Plc has signed a partnership with Cellulant to offer mobile-based investment solutions to up its revenues.
The initiative comes barely a week after the insurance company recorded Sh9.1 billion loss attributed to poor returns from investments in its associate Housing Finance Group and Britam Asset Managers. - This partnership aims to provide users in Kenya with a seamless digital platform where they can access savings solutions as well as investment opportunities.
- Imarika, Britam’s digital goal-based investment wallets will be available on Tingg, Cellulant’s digital payments platform.
Customers will be able to view and pay for various investment solutions offered by Britam. They will have an option to pay using their mobile money wallet, debit or credit card or direct bank transfers.
Britam has been leveraging technology and partnerships to increase investment and insurance penetration in Kenya.
According to recent reports, Kenya’s gross savings rate was measured at 5.4 percent in 2019 compared with 5.3 per cent the previous year.
Britam’s Imarika Wallet was introduced in 2019 as a medium-term goal-driven, Unit-linked solution that offers its customers the opportunity to earn superior returns while securing their future with access to life insurance.
The platform will see users make regular contributions from as low as Sh200 daily, weekly, or monthly.
There is no upper limit to how much or how often you can contribute. The plan enables users to plan and track their `goals. - Britam’s director, Partnerships and Digital, Evah Kimani said they are delighted to partner with Cellulant to offer customers an enhanced customer experience and enabling them to use their mobile phones to save towards their investment goals.
''We believe that every Kenyan should have the opportunity and ability to secure their financial well-being no matter their income. With this partnership, anyone in Kenya can start on their saving journey and do so seamlessly,'' Faith Gitonga, Cellulant’s country manager, Kenya.
The Customer demand for open mobile wallets has increased significantly over the last few years driven by the growth in mobile money and greater access to internet-enabled mobile handsets.