East Africa’s largest quoted Investment Company, Centum Investment Company Limited (Centum) has announced its intention to buy 73.4 percent shareholding stake in Genesis Kenya Investment Management Ltd. for an undisclosed sum.
The deal, which is still subject to regulatory approvals from the Capital Markets Authority and the Retirement Benefits Authority, is in line with Centum’s strategic objective of growing third-party funds.
Genesis Kenya is a major investment company that provides specialist investment management services to institutional clients within and outside Kenya.
Relatively, Centum announced at its AGM last week that it has incorporated Mvuke Power Ltd, a subsidiary registered in Mauritius that will hold its investments in energy projects.
The Nairobi-based company is expected to back the projects financially either through equity stakes or loans.
The company is also waiting for shareholder approval on October 18 for the acquisition of a 79.2 percent stake in Kilele Holdings, a company that is also incorporated in Mauritius.
Centum said it had registered four companies that will invest in the energy, real-estate and beverage industries.
With a vision to be Africa’s foremost investment channel, Centum is a private, publicly traded investment company listed on the Nairobi Stock Exchange (NSE) and cross-listed on the Uganda Securities Exchange.
