Startups backed by Britam’s innovation arm, BetaLab, are set to benefit from a suite of growth-enabling incentives following the hub’s relocation to the Two Rivers International Finance and Innovation Centre (TRIFIC), a service-focused Special Economic Zone (SEZ) in Nairobi.
The move, which comes one year after BetaLab’s official launch, is expected to accelerate the scale and impact of fintech and insurtech startups tackling critical gaps in Kenya’s financial services sector.
With its new base at TRIFIC SEZ, BetaLab offers its incubated startups access to significant fiscal and operational advantages. These include tax incentives that enhance financial competitiveness, premium office spaces with high-speed connectivity and green energy, and proximity to government agencies for streamlined regulatory engagement. Startups will also benefit from increased exposure to venture capitalists, seasoned mentors, and corporate leaders.
Dr. James Mworia, CEO of Centum Investments, hailed the relocation as a strategic decision tailored to fast-track innovation in Africa’s fast-evolving service economy.
“The move to TRIFIC SEZ is a calculated step to significantly accelerate the growth and innovation of fintech and services startups,” said Dr. Mworia. “TRIFIC provides a comprehensive ecosystem, far beyond what traditional manufacturing-focused SEZs offer, that empowers startups to attract investment and achieve rapid scalability.”
Since its launch in early 2024, BetaLab has incubated and supported startups addressing challenges in claims processing, SME financing, digital savings, and healthcare. Several of the startups in its portfolio are already offering solutions such as AI-powered motor claims assessments, financial tools for SMEs and informal groups, and inclusive insurance for boda boda riders.
Six startups have completed BetaLab’s pre-incubation program, with three advancing to incubation. Britam is currently exploring joint ventures and equity partnerships with several ventures as part of a broader strategy to accelerate innovation in the insurtech space.
Britam Group Managing Director and CEO, Tom Gitogo, said the new space at TRIFIC aligns with the company’s ambition to drive digital transformation in financial services across Africa.
“With Africa’s digital financial sector expanding rapidly, fueled by a young population, smartphone penetration, and increasing financial inclusion, BetaLab’s presence at TRIFIC provides the ideal environment to scale innovative, inclusive solutions,” said Mr. Gitogo.
BetaLab is also in the process of raising additional capital to scale startups emerging from its programs. The innovation hub is positioning itself as a continental player, with plans to extend operations into Britam’s seven other African markets.
By relocating to TRIFIC SEZ, Britam is not only reinforcing its commitment to homegrown innovation but also providing a robust platform for startups to build, test, and scale solutions that could redefine insurance and financial services across the continent.
