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Britam buys Sh1.4bn power firm stake

Everstrong Capital principal John Ouko, Gulf Energy CEO Francis Njogu and Britam Asset Managers’ Kenneth Kaniu when they announced the deal in Nairobi on January 22, 2019. PHOTO | SALATON NJAU

By  EDWIN OKOTH

Britam Asset Managers (Kenya) has bought a Sh1.4 billion stake in a local electricity producer through a US-based investment firm as the company seeks to diversify its investments beyond equities, real estate and bonds.

Britam said it would acquire a significant stake in Gulf Energy via New York-based Everstrong Capital — which has preferred infrastructure investments.

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