
ATIDI Chief Underwriting Officer Benjamin Mugisha says the firm will leverage experience in handling similar services other countries such as Angola that has privatised some state enterprises.
Under the Kenyan government’s privatisation programme 35 companies had been earmarked for sale and begun the process of selling off stakes worth between 35pc and 100pc of 11 companies in the first batch, this in a bid to attract investors and grow the private sector.
But investors are still waiting to see further movement in the programme. In September last year, the High Court of Kenya overturned the Privatization Act 2023 on the grounds of unconstitutionality, but players say it isn’t too late to express interest for future plans.
Other sectors in the purview of international underwritters such as ATIDI is the private sector led predominantly by contractors and the public sector led by state angencies and parastatals.
Already, ATIDI says kenya’s insurance penetration has been seeing steady growth owing to innovative insurance products, but depressed premium growth continues to challenge the sector .
By Allan Aoko