Britam formally introduced its long-awaited Britam Trust Services on Wednesday, June 17, giving Kenyans a way to direct, transfer, and safeguard wealth across generations.
Through the new offering, Britam is providing Kenyans with a route to manage assets via the Britam Cash Trust and Britam Family Trust, also known as the Britam Private Trust.
A trust is a legal setup that enables assets to be administered for beneficiaries, helping preserve wealth, protect family members, and ensure property is passed on according to the owner’s wishes.
At the launch, Britam Trust Manager Susan Mathenge said the Britam Cash Trust allows funds to be set aside for specific needs of a chosen beneficiary, including education, healthcare, and daily upkeep.
The Britam Family Trust covers a broader pool of assets, such as property, investments, businesses, and cash.
Britam Group Managing Director and CEO Tom Gitogo said the company aims to help customers protect what they have built, preserve it deliberately, and pass it on with clarity and purpose.
Mathenge said Britam Trust Services are meant to give individuals and families a structured way to manage assets according to their wishes during their lifetime and after.
The service also enables organisations to manage employee benefits, including pensions and group life cover, in a professional and efficient manner when payments become due to beneficiaries under 18 following an employee’s death.
Mathenge said Britam does not impose fixed terms, but instead works with each customer to create a trust structure tailored to their individual needs.
Britam said individuals can begin with as little as Ksh5,000 and continue building their fund under the Britam Cash Trust, with the option to add any amount at any time.
Alternatively, customers can make a one-time deposit of Ksh50,000 into the fund, which offers an annual return of more than 13 per cent.
Moses Kang’ethe, Acting CEO and Principal Officer at Britam Life Assurance, said trusts are not only for wealthy people but for everyone.
By using a trust, individuals can avoid lengthy legal disputes over property and prevent hard-earned wealth from ending up with the Unclaimed Financial Assets Authority (UFAA).