The New Times (Kigali)

12 March 2014

Rwanda: Britam's Profits Before Tax Up

Financial services group, British-American Investments Company (Britam) recorded a profit before tax of Ksh3.2b (about Rwf24.4b), last year. This is a 12 per cent increase from the Ksh2.8b (Rwf21.4b) posted in 2012. Britam, which has a strong presence in Kenya, started operations in Rwanda last month. It also has offices in Uganda and South Sudan.

The firm's total revenues for the Group grew by 31 per cent to reach Ksh9.5b (Rwf72.4b), from Ksh7.2b (Rwf54.9b) in 2012, buoyed by the positive performance of its life, general and asset management businesses. Assets under management rose to Ksh36.2b (Rwf276b), from Ksh28.1b (Rwf214.2b), a 31 per cent annual increase. The Nairobi Stock Exchange listed company announced a final dividend of Ksh473m (Rwf3.6b).

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