Centum Investments

Updated on Oct 03, 2024

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Type Public Limited Company Industry Investments Headquarters Nairobi Founded 1967		Traded as KN: ICDC USE:CENT Motto Tangible Wealth Number of employees 90 (2015)

Key people Donald Kaberuka (Chairman) James Mwirigi Mworia (CEO) Samuel Kariuki (CFO) Products Equity Ownerships, Real Estate Development Revenue Aftertax:US$99.6 million (KES:9.9 billion) (FY:2015/2016) CEO James Mworia (22 Oct 2008–) Company secretary Loise Gakumo (Legal Advisory) Managing director Fred Murimi (Centum Capital) Profiles LinkedIn Twitter

James mworia ceo centum investments interview hd

Centum Investments, commonly known as Centum is a public East African investment company. It operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation (ICDC).

Overview

Centum is a publicly owned investment company with headquarters in Nairobi, Kenya. Its shares are listed on the Nairobi Securities Exchange (NSE), where they trade under the symbol: ICDC. The company shares are also cross-listed on the Uganda Securities Exchange (USE), where they trade under the symbol: CENT. As of March 2016, total assets were valued at about US$518.2 million (KES:51.5 billion).

History

ICDC was founded in 1954 as a government parastatal, whose primary objective was to provide a vehicle for Kenyans to invest in the economy of newly independent Kenya by investing in Kenyan companies. In 1967, ICDC formed the subsidiary ICDC Investment Company Limited, whose shares were listed on the NSE.

In 1998, with the Government of Kenya having sold some of its majority shareholding, ICDC Investment Company adopted a new management structure, handing over day-to-day management to an independent professional managerial team, supervised by an independent board of directors elected by the shareholders.

In 2007, the shareholders changed the name of the company to Centum Investment Company Limited. The shares of Centum Investment Company Limited have been publicly traded on the NSE since 1967 and on the USE since 10 February 2011. Plans are underway to crosslist the company stock on the Dar es Salaam Stock Exchange and on the Rwanda Stock Exchange.

Investment structure

Centum's investments are organised into three divisions:

Quoted Private Equity

This division invests in publicly traded companies in various stock exchanges on the African continent. This segment represents 19% of Centum’s portfolio value. These include:

Longhorn Kenya Limited - 60.20% shareholding - A publishing company listed on the Nairobi Securities Exchange with subsidiaries in Kenya, Uganda, and Tanzania and distribution in Malawi and Rwanda.

Private Equity

This division acquires equity positions in non-publicly-traded companies, mainly in the African Great Lakes region, but increasingly in other parts of the continent as well. Per its March 2014 annual report, these included:

Centum Asset Managers Limited - 100 percent shareholding - A fund manager in Kenya.

King Beverage Limited - 100 percent shareholding - Owner of a franchise marketing contract with Danish beer manufacturer Carlsberg.

Genesis Kenya Investment Management Limited - 73.35 percent shareholding - The second largest fund manager in Kenya.

Sidian Bank - 67.54 percent shareholding - A commercial bank in Kenya, licensed by the Central Bank of Kenya, the national banking regulator.

Almasi Beverages Limited - 50.95 percent shareholding - The second largest Coca-Cola bottling franchise in Kenya.

Amu Power Company - 51 percent shareholding - A power generation company.

Platcorp Holdings - Owner of Platinum Credit. 45 percent shareholding. A short term financing company with subsidiaries in Kenya, Uganda, and Tanzania.

Nairobi Bottlers - 27 percent shareholding - The largest of the Coca Cola franchises in Kenya.

Kenya Wine Agencies Limited - 26.43 percent shareholding - A leading manufacturer, distributor, and importer of wines and spirits in East Africa.

Aon Insurance Brokers - 21.5 percent shareholding - An insurance brokerage and consulting services company and the Kenyan subsidiary of Aon Plc.

General Motors East Africa - 17.8 percent shareholding - A motor vehicle retailer in Kenya and the local subsidiary of American-based General Motors.

NAS Servair - 15 percent shareholding - An on-site airport catering facility supplying over 30 International airlines that fly into and out of the Jomo Kenyatta International Airport in Nairobi and Moi International Airport in Mombasa.

Real Estate and Infrastructure

This division is involved in real estate development in Kenya and Uganda, with an eye to expanding into other countries in the African Great Lakes region. These include:

Athena Properties Limited - 100% shareholding - A real estate management, ownership, and development company. Athena Properties Limited is currently overseeing the Two Rivers Project in Ruaka near Nairobi, Kenya and Pearl Marina in Entebbe, Uganda.

Former investments

UAP Holdings - 13.75% shareholding previously held - An investment, retirement, and insurance services group that operates mainly in East Africa. Centum exited this investment in 2015 through a direct sale to Old Mutual.

Rift Valley Railways - 10% shareholding previously held - A consortium that was established in 2005 to manage the Uganda Railway parastatal railways of Kenya and Uganda. This investment terminated in 2012.

Carbacid Investments - 22% shareholding previously held - A manufacturer and marketer of carbon dioxide gas for industrial and medical use as well as dry ice. This investment ended in 2011.

In 2014, Centum exited two investment funds Helios and Nigeria-based African Capital Alliance where total investments totaled KShs500 million.

Ownership

As of March 2016, the company stock was owned by the following corporate entities and individuals:

References

Centum Investments Wikipedia

(Text) CC BY-SA