Kenya holds over KES 115 billion in unclaimed financial assets. Behind that number sit bank accounts, pension payouts, insurance proceeds, and investment funds that never reached the people they were meant to support, most of them minors. Britam Trust Services launches directly into that gap.
Britam, a pan-African financial services firm, officially launched Britam Trust Services to give Kenyans a structured, legally sound way to protect assets, provide for dependants, and transfer wealth across generations. The service covers two distinct products: the Britam Cash Trust and the Britam Family Trust, each designed to address a different stage and scale of wealth planning.
“Our role is to help our customers protect what they have worked hard to build, preserve it with intention, and pass it on with clarity and purpose,” said Britam Group Managing Director and CEO Tom Gitogo.
Why Trusts Matter Now
Kenya’s wealth landscape has shifted considerably. More households now accumulate assets through cash savings, property, pension funds, family businesses, and investment portfolios. Yet most of these assets sit without formal protection structures, vulnerable to court delays, creditor claims, family disputes, and the administrative burden of succession proceedings.
The Unclaimed Financial Assets Authority (UFAA) currently holds over KES 115 billion in assets that have not reached their intended beneficiaries. Many of these funds belong to families where the asset owner died without a clear legal mechanism to transfer ownership directly to dependants, particularly children under 18.
A trust changes that equation. It creates a legal arrangement in which a trustee holds and manages assets on behalf of named beneficiaries, strictly according to the terms the founder sets out. Assets inside a trust bypass succession court processes, stay protected from creditor claims, and reach beneficiaries according to the founder’s exact instructions, regardless of when or how the founder dies.
Mr. Gitogo addressed the perception that trusts serve only the wealthy: “Trusts have often been viewed as tools for significant inherited wealth. Britam Trust Services is built on a broader premise: that anyone building wealth needs a structure to protect and steward their assets. This includes the Kenyan worker, saver, business owner and family that has spent years building something worth protecting.”
Two Products, One Purpose
Britam Trust Services offers two trust solutions, structured to serve different financial needs and asset types.
| Feature | Britam Cash Trust | Britam Family Trust |
|---|---|---|
| Asset type | Cash only | Property, investments, businesses, cash |
| Minimum entry | KES 5,000 | Based on assets held |
| Primary use | Education, healthcare, sustenance, milestones | Estate planning, generational wealth transfer |
| Also known as | Need-based trust fund | Private Trust |
| Beneficiary protection | Minors, incapacitated persons, dependants | Minors, incapacitated persons, dependants |
| Succession court bypass | Yes | Yes |
| Asset protection from creditors | Yes | Yes |
| Tax benefits | Not applicable | Stamp duty and Capital Gains Tax exemption |
Britam Cash Trust: Accessible Wealth Protection from KES 5,000
The Cash Trust manages liquid funds exclusively, holding and investing cash on behalf of named beneficiaries for defined purposes. Founders set the terms, choose the beneficiaries, and determine exactly when and how funds are released.
Britam structures the Cash Trust around six specific need categories:
Education Trust Fund — Covers school fees, books, uniforms, school trips, and related education costs for the named beneficiary.
Medical Trust Fund — Pays medical bills directly or funds annual medical cover premiums on behalf of the beneficiary.
Family Care Trust Fund — Addresses broader household needs including education, medical expenses, rent, utility bills, upkeep, and transportation.
Milestone Trust Fund — Releases funds when a child achieves specific targets set by the founder, supporting defined life goals rather than general spending.
Welfare Trust Fund — Designed for groups, this structure pays out funds to a member’s beneficiaries in the event of that member’s death, sustaining dependants across a defined community.
Charitable Trust Fund — Directs funds toward charitable causes the founder chooses to support on an ongoing basis.
Individuals start with as little as KES 5,000 and grow the fund through regular top-ups over time. This entry point makes trust planning accessible to salaried workers, small business owners, and households that have historically been excluded from formal wealth planning structures.
Key Benefits of the Cash Trust
Protection for vulnerable beneficiaries. The trust holds and ring-fences cash on behalf of minors, elderly dependants, and incapacitated individuals. Founders can also name a trust fund as the beneficiary of an insurance policy, pension, or employee benefit, ensuring payouts flow directly into the protected structure rather than into an unmanaged estate.
Investment of trust funds. Cash held within the trust is actively invested to generate long-term returns, maintaining and growing the fund’s value over time.
Succession court bypass. Because trust assets fall outside the founder’s estate, they do not enter probate proceedings after the founder’s death. Beneficiaries access funds faster, with greater privacy and significantly lower legal costs.
Asset protection. Trust assets remain shielded from creditor claims and bankruptcy proceedings. Neither the founder’s nor the beneficiaries’ debts can be settled using trust property.
Adherence to the founder’s wishes. The trust deed governs how funds are managed and distributed, giving founders certainty that their instructions will be followed precisely, both during their lifetime and after.
