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Munga makes Sh9 billion bet on Mauritian’s Britam shares

Businessman Peter Munga. PHOTO | FILE

Billionaire businessman Peter Munga is betting big on Britam with the announcement of his intention to acquire a 23.3 per cent stake in the listed financial services firm at an estimated cost of up to Sh9.9 billion.

The deal, which was announced yesterday, indicates that Mr Munga, through his investment vehicle Plum LLP, is acquiring the stake belonging to Dawood Rawat — the disgraced Mauritian director of the firm — temporarily as Britam searches for a strategic investor to buy from him.

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