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Britam 2021-2025
Ericsson
#1 Posted : Thursday, October 14, 2021 12:35:42 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,071
Location: NAIROBI
As part of turnaround strategy and to reduce property holdings,Britam is selling the following parcels of land;
Rose Avenue Kilimani--- 0.57 acres
Elgon Road Upper Hill---2.3 acres
Ring Road Kileleshwa---4.9 acres
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2 Posted : Thursday, October 14, 2021 12:37:21 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,071
Location: NAIROBI
https://www.standardmedi...robi-dip-by-27-per-cent

Land and property prices in Nairobi and it's environs are self-correcting due to market forces with a report revealing a drop of upto 27%.

A recent Macro Strategy Report published by EFG Hermes, a financial service company, which analysed land prices in the high-end market segment, upper-middle and satellite towns found that the pricing was significantly lower in the first quarter of 2021 compared to the past four years.

It notes that prices of residential and commercial property in Nairobi’s satellite towns have dipped since quarter four of 2019. “Could this represent the early signs of a deeper correction in high-end property prices?” posed the report.

The report says the property market in the country is overvalued, noting that the Covid-19 pandemic has seen distressed properties sale for less than their initial valuation.

The survey notes that the current land prices in the high-end segment are significantly lower than their peak levels over the past four years. “Notably, Quarter One (Q1) of 2021 land prices in Runda were 27 per cent below their recent peaks in Q4 of 2017,” reads the report in part.

“In the middle-income segment, current land prices are also lower than their peak levels over the past four years, but not by as much as the high-end segment.”

Prices in Runda have dropped way below the initial prices in Q4 of 2014. The report notes that while current land prices in Parklands and Westlands have changed from their peak levels over the past four years, current land prices in Upper Hill - Nairobi’s most expensive suburb are 13 per cent below their peaks in Q4 2017.

“Donholm stands out within the other segment for being the only suburb that has continued to see its land prices materially appreciate since Q4 2017,” noted the survey.

The report says on the performance of suburb land prices in Nairobi, between Q4 2017 and Q1 of 2021 all have underperformed the Consumer Price Index (CPI) which is 20 per cent.

“This has to be concerning for the outlook of the property market in Nairobi’s suburbs,” it reads.

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#3 Posted : Sunday, October 24, 2021 12:26:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,071
Location: NAIROBI
https://mobile.twitter.c...803867180589056/photo/1

The board of Britam in response to an enquiry by CMA Kenya is said to have disowned director Peter Munga over the acquisition of a 23.34% additional stake from the Mauritian government
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#4 Posted : Tuesday, November 02, 2021 8:00:28 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,637
Location: Nairobi
https://www.businessdail...-sh20m-rent-row-3604224
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#5 Posted : Tuesday, November 02, 2021 8:18:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,071
Location: NAIROBI
VituVingiSana wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/court-bars-trader-from-britam-tower-sh20m-rent-row-3604224


That is in order,even Kenya Re at Anniversary Towers had to lock out tenants with their assets inside due to rent default.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#6 Posted : Thursday, November 25, 2021 5:58:49 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,071
Location: NAIROBI
Britam Group Managing Director Tavaziva Madzinga is set to end his short stint with the regional underwriter in April 2022.
In an announcement made today, the management of Britam has credited Mr Madzinga with steering the company back into profitability and overseeing a restructuring which has seen it book gains of up to Kes500 million
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Angelica _ann
#7 Posted : Friday, November 26, 2021 12:49:12 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,874
Ericsson wrote:
Britam Group Managing Director Tavaziva Madzinga is set to end his short stint with the regional underwriter in April 2022.
In an announcement made today, the management of Britam has credited Mr Madzinga with steering the company back into profitability and overseeing a restructuring which has seen it book gains of up to Kes500 million


Laughing out loudly Laughing out loudly Laughing out loudly what happened?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Kausha
#8 Posted : Friday, November 26, 2021 4:00:38 PM
Rank: Member


Joined: 2/8/2007
Posts: 802
I am wondering what was this all about? It looks like some power play at play or power play turning into constipation here.
tony stark
#9 Posted : Tuesday, November 30, 2021 7:49:40 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 931
If only paul Kimani could tell us what is happening with his employers. That would be very useful.
tony stark
#10 Posted : Wednesday, December 01, 2021 4:51:40 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 931
If only paul Kimani could tell us what is happening with his employers. That would be very useful.
Bigchick
#11 Posted : Wednesday, December 01, 2021 6:19:51 PM
Rank: Elder


Joined: 2/8/2013
Posts: 4,060
Location: At Large.
They said he got an irresistable offer.

However me thinks power games at the top could uave played a role.

Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
madhaquer
#12 Posted : Wednesday, December 01, 2021 8:30:50 PM
Rank: Member


Joined: 11/10/2010
Posts: 276
Location: Nairobi
I think he was in to clean the house and leave it leaner and for someone else to handle the cooling of after massive layoffs.

Then he goes off to an already profitable firm.
https://www.businesslive...a-as-its-new-group-ceo/

Hi game ya CEO ni kama player transfer.
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