Businessman Jimnah Mbaru last year transferred 64.8 million Britam shares valued at Sh322 million at current price into nominee accounts, cutting the volume held directly under his name to 130 million units.
Filings in Britam’s annual report for 2022 show he ended last year with a direct holding of 130 million shares, having opened the year at 194.8 million units. He, however ,told the Business Daily that the movement was not as a result of a sale, but rather a transfer into nominee accounts under his name, with the approval of the Capital Markets Authority (CMA) since he is a director in the insurance firm.
