Britam Asset Managers, a leading investment firm in Kenya, is setting its sights on continental expansion with a mobile-based investment platform. The firm, which manages over Sh300 billion in assets, aims to reach ordinary savers across Africa, including those without smartphones, through USSD mobile services. This strategic move was outlined by Chief Executive Barack Obatsa in October 2026. By leveraging mobile distribution, Britam seeks to tap into the growing collective investment market in Kenya and beyond.
Kenya's collective investment market is experiencing rapid growth, with total industry assets reaching Sh948.7 billion in June 2026, up from Sh851.68 billion in March 2026, according to data from the Capital Markets Authority (CMA). This represents an 11% quarterly rise. Britam's unit trust scheme is currently ranked fourth in the industry, with Sh71.35 billion in assets and a 7.52% market share. The firm's domestic platform has shown credibility, with its unit trust assets increasing by 15% quarterly to Sh71.35 billion in June 2026.
Britam's approach to African expansion focuses on organic growth rather than large acquisitions. The firm plans to build on its existing footprint, market by market, with a focus on accessibility. USSD channels will enable the firm to reach rural customers with basic mobile phones, which is crucial in markets with uneven smartphone penetration. By targeting younger workers, Britam aims to shift their savings away from bank deposits and informal holdings.
The firm has received approval from the CMA to register two new sub-funds under its existing umbrella scheme. On 12 August 2026, the CMA authorised Britam to launch the Multi Asset Special Fund and the Enhanced Global Equities Special Fund in October 2026. The Multi Asset Special Fund invests across local and global equities, fixed income, alternative assets, and tactical overlay strategies, targeting long-term capital growth and income.
The Enhanced Global Equities Special Fund is a USD-denominated sub-fund that provides investors with shilling-denominated exposure to global equities without requiring them to hold foreign-currency accounts. This fund offers professionally managed access to global companies and sectors, although it carries higher market-volatility risk than domestic fixed income. These new funds will be key to Britam's strategy of attracting retail investors across Africa.
Kenya is among Africa's six deepest capital markets, and institutional flows are already concentrating there. Britam's USSD strategy could convert this macro momentum into retail inflows at scale. The firm's success will depend on its ability to turn mobile reach into regular contributions. By providing accessible investment options, Britam aims to tap into the growing demand for investment products in Kenya and across Africa.
Britam's ambition is to achieve a BlackRock-scale presence in Africa, although this is a long-run aspiration. The firm's trajectory is real, with a growing domestic platform and a clear strategy for expansion. As the collective investment market in Kenya and Africa continues to grow, Britam's mobile-based investment platform is well-positioned to capitalize on this trend.
Key points
- Britam Asset Managers aims to expand across Africa using mobile distribution and new funds.
- The firm has received CMA approval for two new sub-funds under its existing umbrella scheme.
- Britam's USSD strategy could convert macro momentum into retail inflows at scale.
