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Billionaire Munga cashes in Sh1.3bn Britam shares

Britam Group managing director Benson Wairegi (left) and board member Peter Munga during the firm’s AGM on March 24, 2017. PHOTO | SALATON NJAU | NMG

By  Victor Juma

Business Editor

Nation Media Group

Businessman Peter Munga has sold Sh1.3 billion worth of shares in financial services firm Britam #ticker:BRIT in a deal that has reduced his stake in the company, which has attracted major institutional investors in the past one year.

The shares sale is disclosed in the Nairobi Securities Exchange-listed firm’s latest annual report, which says Mr Munga sold 104 million Britam shares in the year ended December 2017.

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