Kenya’s financial services group Britam Holdings has announced the shock resignation of its managing director, Tavaziva Madzinga, after less than one year in office.
The announcement comes barely 10 months after he joined the company on 1st February 2021 following the retirement of Dr Benson Wairegi who had served in the company for more than four decades.
In a statement, Britam said thatTavaziva Madzinga will officially exit the listed firm in April 2022 to pursue another business opportunity and the firm has began the process of finding a suitable replacement. Britam’s head of Finance Charles Njuguna has been appointed deputy managing director while Diane Korir has been promoted customer experience director and Catherine Karita as the head of strategy and investor relations.
“The Britam Group Managing Director, Mr. Tavaziva Madzinga, is set to transition from the Group in April 2022. Mr. Madzinga has overseen the Group’s return to profitability, initiated the transformation of the Group to a client centric organization with the development of the 2021-2025 strategy together with the global strategy group BCG and built a strong executive team with global experience that will propel the Group to the next level. Britam is grateful to have benefited from Mr. Madzinga’s global experience in repositioning the Group for the future.” the firm’s acting chairman Mohamed Said Karama noted.
About Tavaziva Madzinga
Prior to his appointment, Tavaziva worked at Swiss Re as CEO of UK and Ireland, one of the world’s biggest insurance and reinsurance companies.
Tavaziva holds a Bachelor of Business Science in Actuarial Science from the University of Cape Town. In addition, he is a qualified Actuary and a Fellow of the Institute of Actuaries (FIA) and a member of the Actuarial Society of South Africa.