The Influence of Mergers and Acquisitions on Performance of Britam Holdings Limited, Kenya


  • Mwobobia Rolline Miriko Kenyatta University
  • Dr. Murigi Elishiba Muthoni (PhD) Kenyatta University


The global business environment within which Multinational Corporations (MNCs) operate is characterized by dynamic and complex political, economic, social, cultural, technological, and legal aspects. The entry of new firms in the Kenyan market has tightened the level of competition among MNCs, which has necessitated designing and implementing of new competitive strategies to enhance performance. This study aimed at determining the influence of mergers and acquisitions on performance of Britam holdings limited, Kenya. The study adopted a descriptive research design. The target population of the study was 887 staff at Britam holdings Ltd Nairobi. The findings of the study indicated that mergers and acquisitions have a significant positive relationship with performance of Britam holdings limited. The study recommended that multinational companies should embrace competitive strategies so as to improve performance of their companies and further research should to be carried out in other public institutions to find out if the same results can be obtained.

Keywords: Mergers, Acquisitions, Performance, Joint Ventures, Britam

Author Biographies

Mwobobia Rolline Miriko, Kenyatta University

Masters Student, Department of Business Administration

Dr. Murigi Elishiba Muthoni (PhD), Kenyatta University

Lecturer, Department of Business Administration


Aggarwal–Gupta, M., Kumar, R., & Upadhyayula, R. S. (2012). Success of a merger or acquisition-a consideration of influencing factors. International Journal of Management Practice, 5(3), 270-286.

Azhagaiah, R., & Kumar, T. (2011). Mergers & Acquisitions: An empirical study on the Short- term Post–Acquisition Performance of Corporate Firms in India. International Journal of Research in Commerce, Economics & Management,, 1, 80-104.

Bernard, B., & Koerte. (2007). Strategic Responses to Multiple Dimensions of Lowcost- Country Competition. Frankfurt: EMP, European Management.

Buckley, P. J., & Cassons, M. C. (2009). The internalisation theory of the multinational enterprise: A review of the progress of a research agenda after 30 years. Journal of International Business Studies, 1-18.

Casadesus-Masanell, R. R., & Enric, J. (2009). From Strategy to Business Models and to Tactics. Harvard Business School,

Dumitrescu, C., & Scalera, F. (2012). Strategies of multinational enterprises. International Journal of Business and Commerce, 1(7), 12-27.

Gathoga, H. (2013). Competitive strategies by commercial banks in Kenya, MBA Project, University of Nairobi.

Henrik, B., & Sandström. (2013). Business model innovation from an open systems perspective:structural challenges and managerial solutions. International Journal of Product Development., 8 (3/4): 274–2845.

Home, & John. (2007). Annual Review of Communications. International Engineering Consortium.

Inoti, G. G., Onyuma, S. O., & Muiru, M. (2014). Impact of Acquisitions on the Financial Performance of the Acquiring Companies in Kenya: A Case Study of Listed Acquiring Firms at the Nairobi Securities Exchange. Journal of Finance and Accounting, volume 2, Issue 5, Pages: 108-115. Retrieved from @inproceedings{Inoti2014ImpactOA.

Joffre, K. (2011). Government‟s Impact on Business Environment and Strategic Management. Journal of General Management, 19(3), 50-59.

Johns, G., Scholes, K., & Whittington, R. (2008). Exploring Strategy Management and cases (8th ed). Harlow, England: Pearson education Ltd.

Karagiannidis, S. (2010). Mergers and acquisitions in Australia: reasons and timing (Doctoral dissertation, Victoria University).

Khan, A. A. (2011). Merger and Acquisitions (M&As) in the Indian Banking Sector in Post Liberalization Regime. International Journal of Contemporary Business Studies, 2(11), 31-45.

Malik, M. F., Anuar, M. A., Khan, S., & Khan, F. (2014). Mergers and acquisitions: A conceptual review. International Journal of Accounting and Financial Reporting, 4(2), 520.

Murage, S. (2001). Competitive Strategies Adopted by Members of the Kenya Independent. Thesis, University of Nairobi.

Ombasa, D. N., & Nzulwa, J. (2018). Effect Of Competitive Strategies On Firm Performance (A Case Study Of National Oil Corporation Of Kenya. Journal of International Business, Innovation and Strategic Management, 1(6): 288 – 310

Owiye, P. O. (2009). Why Kenyan Firms are Failing to Compete Effectively Within the Liberalized Trading Environment in Kenya: The Case of Government Owned Sugar Firms. MBA Project, University of Nairobi.

Porter (2004). The Five Competitive Forces that shape Strategy. New York:NY: Free Press. Porter, M. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Free Press.

Probst, L., Monfardini, E., Frideres, L., Bertrand, & Pedersen, G. (2014). Innovative Business Models for Global Competitiveness:New models for direct global market access in ICT. Europe: European Union.

Rashid, A., & Naeem, N. (2017). Effects of mergers on corporate performance: An empirical evaluation using OLS and the empirical Bayesian methods. Borsa Istanbul Review, Volume 17, Issue 1, March 2017, Pages 10-24.

Roa, S., & Kumar, R. (2013). Financial performance evaluation of Indian commercial banks during before and after mergers. Refereed Journal of CMR College of Engineering & Technology, 117.

Rodríguez-Sánchez, J.-L., Mora-Valentín, E.-M., & Ortiz-de-Urbina-Criado, M. (2018). Successful Human Resources Management Factors in International Mergers and Acquisitions. Administrative Sciences, 1-15.

Slowisnki, G., Hummel, E., Gupta, A., & Gilmont, E. (2015). Effective Practices for Sourcing Innovation. Research Technology Management, 27-34.

Van, W., & Nadolska. (2015). What Drives Alliance Portfolio Benefits? The Role of Portfolio Characteristics and Coordination. Academy of Management Proceedings

Wolf, A. T., Wolfe, S. B., & Giordano, M. (2003). International waters: indicators for identifying basins at risk. Paris, France: UNESCO.

Woznik, M. (2013). The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base: An empirical study of the German market (Vol. 755). GRIN Verlag.




How to Cite

Miriko, M. R., & Muthoni (PhD), D. M. E. (2020). The Influence of Mergers and Acquisitions on Performance of Britam Holdings Limited, Kenya. Journal of Finance and Accounting, 4(3), 45–60. Retrieved from