Britam has received the much needed support from the Mauritius Government. The Government of Mauritius has announced plans to take over the shareholding stake held by a beleaguered Mauritian businessman in the company.
Mauritian Minister for Financial Services, Good Governance and Institutional Reforms Roshi Bhadain, confirmed that the State Insurance Company of Mauritius (SICOM), would soon take over the 23.9% stake held by Businessman, Mr Dawood Rawat, in the financial services firm.
This comes in the wake of a recent move by the government of Mauritius placing Mr Rawat’s firms in receivership over alleged financial impropriety charges. Mr Rawat’s shareholding at Britam isvalued at more than Kshs13billion.
He further confirmed that Kenya had not been affected by the Mauritian government’s purge against Rawat’s interests. This, he said, is because Mr Rawat, never held a controlling stake and neither is Britam directly linked with the businessman’s Mauritian operations.
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