Britam Takes SME Growth Push to Thika in Nationwide Drive

Britam Holdings Plc, one of Kenya’s largest diversified financial services firms, has hosted more than 100 small and medium-sized enterprises at its Britam Biashara Network forum in Thika, continuing a nationwide initiative designed to help entrepreneurs navigate mounting economic challenges. The forum, themed “Unlocking SME Potential and Growth in Kenya: Profits Under Pressure,” brought together entrepreneurs, financial experts, and institutional partners including the Kenya National Chamber of Commerce and Industry (KNCCI) and HFC Limited. The event comes at a critical time for Kenya’s MSME sector, which comprises more than 7.4 million enterprises employing over 14.9 million people and contributing between 30 and 40 percent of the country’s GDP — yet faces persistent challenges around access to finance, rising operating costs, and an economy where 87 percent of the 822,100 new jobs created in 2025 were in the informal sector. For Britam itself, the Biashara Network represents a strategic play to deepen its engagement with the SME market as the firm transitions from its completed EPIC² strategy cycle to a new 2026–2030 growth plan branded ASCEND, following a year in which the company posted Sh7.9 billion in pre-tax profit.

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Key Overview

• 100+ SMEs attended the Britam Biashara Network forum in Thika
• 7.4 million MSMEs operate in Kenya, employing over 14.9 million people
• 30–40% of Kenya’s GDP is contributed by the MSME sector
• 90%+ of private enterprises in Kenya are MSMEs
• 87% of 822,100 new jobs created in 2025 were in the informal sector
• 4.6% real GDP growth recorded by Kenya in 2025, per the KNBS Economic Survey 2026
• Sh7.9 billion pre-tax profit reported by Britam Holdings for FY 2025, up 8%
• Sh41.7 billion in insurance revenue generated by Britam in 2025, up 11%
• Sh220.7 billion in investment assets managed by Britam
• ASCEND is Britam’s new 2026–2030 strategy, succeeding the completed EPIC² cycle

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Britam Holdings Plc brought its Biashara Network forum to Thika on 13 May 2026, gathering more than 100 small and medium-sized enterprises for a day of networking, knowledge-sharing, and strategic discussion under the theme “Unlocking SME Potential and Growth in Kenya: Profits Under Pressure.”

The event was attended by Britam Chief Operating Officer Leonard Chirchir, Savannah Mabati Ltd CEO James Muriithi as chief guest, and representatives from the Kenya National Chamber of Commerce and Industry (KNCCI) and HFC Limited. It is part of a nationwide rollout of the Biashara Network platform, which Britam is delivering in collaboration with KNCCI county chapters across the country.

The Engine Under Pressure

The forum’s theme — “Profits Under Pressure” — directly addresses the reality facing millions of Kenyan entrepreneurs. Speaking at the event, Chirchir emphasised that SMEs remain critical to Kenya’s economy and require support that extends beyond financial protection.

“Thika is built on the resilience, determination and innovation of hardworking entrepreneurs who create jobs, grow industries and keep the economy moving,” he said.

The scale of the sector underscores why platforms like the Biashara Network matter. According to Kenya’s Draft MSME Policy 2025, drawing on the KNBS MSME Survey of 2016, there are over 7.4 million micro, small, and medium enterprises in Kenya, of which 1.56 million are licensed and 5.84 million operate informally. These enterprises employ approximately 14.9 million individuals across all sectors and account for more than 90 percent of private businesses in the country.

The sector’s contribution to GDP has grown from approximately 33.8 percent (as measured in 2015) to an estimated 40 percent by recent UNDP and MSEA assessments examining the post-pandemic recovery period. Despite their economic significance, MSMEs face deep structural challenges: 71 percent of those who borrow working capital report receiving inadequate loans, while 80.6 percent of MSME start-ups rely on family or personal funds as their source of initial capital.

Chief guest James Muriithi, the CEO of Savannah Mabati Ltd, urged businesses to embrace technology, partnerships, and consistency to survive tough conditions. “SMEs are not small players in the economy; they are the engine that powers Kenya’s growth story,” he said.

Kenya’s Jobs Landscape: Scale Without Quality

The urgency of the SME conversation is amplified by the broader state of Kenya’s labour market. The 2026 Economic Survey released by the Kenya National Bureau of Statistics in April showed that the economy created approximately 822,100 new jobs in 2025 — but the vast majority, 87 percent, were in the informal sector.

Total informal sector employment rose 4.1 percent to 18.1 million workers, while modern sector wage employment grew at a slower 2.8 percent to 3.3 million. Kenya’s real GDP grew by 4.6 percent in 2025, slowing slightly from 4.7 percent in 2024, with the World Bank projecting growth of 4.7 percent for 2026.

The structural dominance of informal employment — much of it in MSMEs — means that the health and growth potential of small businesses is not a niche policy concern but a central question for Kenya’s economic future. As the KNBS data makes clear, if Kenya’s job creation engine is overwhelmingly informal, then the conditions in which MSMEs operate — access to finance, insurance coverage, digital tools, regulatory support, and market access — directly determine the quality and sustainability of most Kenyans’ livelihoods.

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The Biashara Network: From Launch to Nationwide Rollout

Britam first unveiled the Biashara Network in February 2024, positioning it as a collaborative platform to bring together industry experts, professionals, and peers to address key challenges facing MSMEs. At the launch, then-CEO Tom Gitogo said the initiative reflected the company’s recognition that MSMEs contribute significantly to GDP and employ millions, but face persistent barriers around access to finance and markets that lead to high closure rates.

The platform has since evolved into a multi-city initiative. An earlier edition of the forum held in Nairobi in early May 2026 featured a keynote address by Wandia Gichuru, co-founder and CEO of Vivo Fashion Group, who shared insights from her entrepreneurial journey since founding the business in 2011. KNCCI National Director Ken Onditi participated in a panel session where he highlighted the Chamber’s iSOKO platform, which connects traders across seven countries, as well as the digitisation of the Certificate of Origin to streamline exports and the Jiinue Growth Program that equips SMEs with skills to access finance.

The Thika edition continued that format, pairing motivational keynotes with practical discussions on navigating the current economic environment. Britam said the forums will continue to roll out across counties in collaboration with KNCCI chapter networks.

Beyond the forum itself, Britam offers SMEs a dedicated insurance product — Britam Biashara — a simplified combined solution designed as a self-rated product allowing SME owners to select coverage including fire, burglary, business interruption, and political violence and terrorism cover, with relaxed warranties and conditions tailored to the realities of small business operations.

Britam’s Financial Position: Strength Behind the Strategy

The Biashara Network initiative is backed by one of Kenya’s stronger financial services firms. Britam Holdings posted an 8 percent increase in pre-tax profit to Sh7.9 billion for the year ended December 2025, with net profit rising 10 percent to Sh5.5 billion. Insurance revenue grew 11 percent to Sh41.7 billion, driven by strong performance in both life and general insurance across Kenya and regional markets. Net investment income rose 4 percent to Sh31.9 billion, while total assets increased 17 percent to Sh243.8 billion and investment assets grew to Sh220.7 billion.

The company completed its EPIC² strategy cycle (2021–2025), which CEO Tom Gitogo said “restored the Group to profitability while accelerating digital adoption and operational efficiency.” Britam has now transitioned to a new 2026–2030 strategy branded ASCEND, positioning the firm for its next phase of growth as what Gitogo described as “a tech-led financial services firm.”

Britam operates across seven African countries — Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi — and ranks as the third-strongest brand in Kenya and the most valuable insurance brand in the market.

However, the board did not recommend a dividend payment for the 2025 financial year, and the company acknowledged that the operating environment was challenging, characterised by increased insurance claims from floods and political violence, which drove a decline in profit from insurance services rendered despite the top-line growth.

Why Thika Matters

The choice of Thika for the latest Biashara Network forum is not incidental. The town, located approximately 45 kilometres northeast of Nairobi in Kiambu County, has historically been one of Kenya’s key industrial and agricultural centres, home to food processing, textile manufacturing, and a vibrant SME ecosystem serving both the domestic market and the broader East African region.

Chirchir’s remarks at the forum reflected this heritage. “Thika is built on the resilience, determination and innovation of hardworking entrepreneurs,” he said, framing the Biashara Network as a continuation of that tradition of enterprise.

The Broader MSME Policy Landscape

The Britam initiative dovetails with government efforts to strengthen the MSME ecosystem. In March 2026, the State Department for MSMEs Development launched the Kenya Opportunity Index Report 2026, with Principal Secretary Susan Mang’eni emphasising that market access is as critical as capital for MSMEs. “Where is the market for MSMEs?” she asked, underscoring that entrepreneurship begins not with financing alone but with identifying opportunity and understanding demand.

The government has also been developing a comprehensive Draft MSME Policy, which acknowledges a financing gap of approximately Sh4 trillion for Kenyan MSMEs. Data from the Central Bank of Kenya shows there were 1.18 million active MSME loan accounts in the banking industry as of December 2022, with a total value of Sh783.3 billion — leaving a significant portion of demand to be met by non-bank and informal lenders.

For Britam, the Biashara Network represents both a commercial opportunity and a strategic positioning play. By embedding itself in the MSME ecosystem through forums, insurance products, and partnerships with bodies like KNCCI, the company is building brand relevance and distribution reach in a segment that accounts for 90 percent of private enterprises — and where the insurance penetration rate remains low by global standards.

Whether the platform delivers sustained impact for the entrepreneurs it convenes will depend on whether the networking and knowledge-sharing translate into tangible business outcomes: better access to finance, more resilient operations, and — ultimately — the kind of growth that moves Kenya’s informal economy toward greater formalisation and productivity.

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Sources: Capital Business / Kenya National Chamber of Commerce and Industry / Business Today Kenya / The Business Watch / Kenyans.co.ke / The Standard / The Kenya Times / African Financials / Britam / KNBS / State Department for MSMEs Development / allAfrica / World Bank

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