Centum Investment Company

Last updated

Centum Investment Company Plc
Company typePublic Limited Company
KN: CTUM
USE:CENT
IndustryInvestments
Founded1967
Headquarters Nairobi, Kenya
Key people
[2]
ProductsPrivate Equity, Real Estate Development, Agribusiness, Banking, Power Generation, etc
RevenueIncrease2.svgAftertax:US$4.3 million (KES:555.97 million) (FY:2024) [3]
Total assets US$372.13 million (KES:48.08 billion) (March 2024) [3]
Number of employees
30 (2024)
Website www.centum.co.ke

Centum Investment Company Plc, 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).

Contents

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 CTUM. [4] [5] The company shares are also cross-listed on the Uganda Securities Exchange (USE), where they trade under the symbol "CENT". [6] Centum is an investment channel providing investors access to a portfolio of inaccessible, quality, diversified investments.

Centum's mission is to create real, tangible wealth by providing the channel through which investors access and build extraordinary enterprises in Africa. As of March 2024 Centum's total assets were KSh 48,083,000,000 (US$371,230,000) with shareholder's equity of KSh41,042,000,000 (US$316,927,000). [3]

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 2008, the shareholders changed the name of the company to Centum Investment Company Limited. [7] The shares of Centum Investment Company Limited have been publicly traded on the NSE since 1967 and on the USE since 10 February 2011. [8] Over time, Centum's strategy has evolved in line with the company's growth with Centum currently in its 2014 – 2019 strategic period dubbed "Centum 3.0". [9] Under Centum 3.0, the company maintains focus through 4 distinct business lines namely Real Estate, Private Equity, Development and Marketable Securities. [10]

Investment overview

Centum's investments are organised into four key verticals:

Growth portfolio

This division is involved in real estate development in Kenya [11] and Uganda, [12] with an eye to expanding into other countries in the African Great Lakes region. [13] These include: [14]

Centum Real Estate's portfolio comprises Two Rivers Duplexes, The Loft, Riverbank, Cascadia Apartments, 26 Mzizi Court Apartments and 265 Elmer One Apartments. The company was recently recognized as a super brand [15] and has won global accolades [16] recognizing it as the top fastest growing company to watch in 2024.

Vipingo Development offers a diverse range of investment opportunities. These include residential homes, fully serviced residential and industrial plots, as well as enticing prospects in commercial, hospitality and institutional sectors. The development features key urban infrastructure, including a 3 Million Litre Capacity per Day Sea Water Desalination Plant & an On-Site Power Substation. Vipingo Development's portfolio comprises of Awali Estate Phases 1 & 2, 1255 Palm Ridge Phases 1 & 2 and Kingswood Park Vipingo homes.

On 5th December 2024, Vipingo land was granted a permit to operate as a Special Economic Zone [19]

Pearl Marina's portfolio comprises of Bellavista Apartments, Mirabella Residences, Springfield Apartments, La Perla Bungalows, Riviera Residence and Kingswood Park.

Private equity portfolio

Centum Capital Partners (CCAP)

Centum Capital Partners (CCAP) is a wholly owned, independently managed subsidiary of Centum and a private equity fund manager and currently manages Centum’s private equity assets with an additional mandate to manage any new private equity funds and third-party capital alongside Centum’s own capital. This division acquires equity positions in either publicly or non-publicly traded companies, mainly in the African Great Lakes region, but increasingly in other parts of the continent as well. [20] Investments under this segment include the publishing, financial services and utilities businesses. Per its March 2024 annual report, these included: [21]

Products and services by Longhorn Publishers include [23] , Longhorn Publishers, [24] and Longhorn Language Services.

  • Greenblade Growers - 100 percent shareholding - This business is involved in the production and export to Europe and the US of premium herbs such as fine beans chives, basil, mint, taragon, rosemary, chervil and thyme [25] .
  • Tribus Security Group - 80 percent shareholding - An internationally accredited company and is the security arm of the Centum Investment Group. Tribus operates businesses along 4 main verticals: Facility Management, Cybersecurity and Technical, Training and Manufacturing.
  • Tier Data - 100 percent shareholding - An IT firm that provides outsourced IT services, ICT infrastructure and software solutions [26] for medium-sized businesses.

Others

  • Isuzu East Africa - A motor vehicle retailer in Kenya and the local subsidiary of American-based General Motors.
  • Sidian Bank - A full-service commercial bank, providing an array of financial services to individuals and enterprises. In FY24, Centum Investment concluded a partial exit of their equity interest in Sidian bank where they sold 43% of their shareholding in the bank. As at March 2024, they held a c. 40% equity interest in the Bank. [27]
  • NAS Servair – 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.

Marketable securities portfolio

The Marketable Securities Portfolio comprises investments in securities and fixed income instruments managed by Nabo Capital. Nabo Capital Limited (Nabo) is entrusted by Centum Investment Company PLC (Centum) with a dual mandate of capital preservation and delivering asymmetric risk adjusted returns on its Marketable Securities Portfolio (MSP) while maintaining operational liquidity. According to the FY24 Performance Review, The portfolio generated solid mean returns of 13.0% despite significant macroeconomic challenges. The portfolio outperformed the local Kenyan index (NSE), the Pan-African index (MSCI) and the Bloomberg Africa Bond Index by 5.0%, 19.9% and 23.5%, respectively [28]

Nabo Capital was named Best Asset Manager Africa 2025 by the Global Business & Finance Magazine [29]

Development portfolio

This represents investments that are still under development. As of March 2024 the development portfolio consists of

TRIFIC is a member of the prestigious World Alliance of International Financial Centers [30]

Former investments

Ownership

As of 31 March 2024, the company stock was owned by corporate entities and individuals. The ten largest shareholders are listed in the table below: [52]

TOP 10 SHAREHOLDERS
RankNameDomicileTotal Shares%
1KIRUBI, CHRISTOPHER JOHNLI205,908,20530.94%
2KENYA DEVELOPMENT CORPORATION  LIMITEDLC152,847,89722.97%
3KIMANI, JOHN  KIBUNGALI63,013,2859.47%
SUB-TOTAL (TOP 3)421,769,38763.38%
4CENTUM INVESTMENT COMPANY LIMITEDLC10,777,2001.62%
5STANDARD CHARTERED KENYA NOMINEES LTD A/C KE004326FC8,265,8561.24%
6STANDARD CHARTERED KENYA NOMINEES LTD A/C KE000954LC6,000,0000.90%
7UGANDA SECURITIES EXCHANGELI5,724,7370.86%
8MWIRIGI, JAMES MWORIALI5,701,9940.86%
9STANBIC NOMINEES LIMITED A/C NR1031313FC5,574,8000.84%
10STANBIC NOMINEES LIMITED R6631578LC5,483,6000.82%
SUB-TOTAL (TOP 10)469,297,57470.52%
SHARES SELECTED469,297,57470.52%
SHARES NOT SELECTED - (Other Shareholders)196,144,14029.48%
SHARES ISSUED665,441,714100%

See also

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References

  1. ↑ Mutegi, Mugambi (16 November 2016). "Ex-AfDB boss Kaberuka to head Centum Board". Business Daily Africa . Nairobi. Retrieved 16 November 2016.
  2. ↑ Jackson Okoth (7 March 2022). "Centum hires former PwC director as new chief finance officer". Kenyan Wallstreet. Nairobi, Kenya. Retrieved 7 March 2022.
  3. 1 2 3 Centum Investment Company (31 March 2024). "Centum Intergrated Report and Financial Statements for the Year Ending 31 March 2024" (PDF). Nairobi: Centum Investment Company.
  4. ↑ Yonga, Romuald (25 October 2019). "Nairobi Securities Exchange Updates Issuer Codes". african markets. Retrieved 27 August 2021.
  5. ↑ Michira, Moses (6 October 2010). "Kenya: Centum's New Shares Begin Trading". Business Daily Africa via AllAfrica.com. Nairobi. Retrieved 14 April 2014.
  6. ↑ "Listed Equities on Uganda Securities Exchange". Kampala: Uganda Securities Exchange (USE). 4 August 2017. Archived from the original on 5 August 2017. Retrieved 4 August 2017.
  7. ↑ "Centum: Our History". Centum Investment Company Limited. Retrieved 14 April 2014.
  8. ↑ Ojambo, Fred (29 December 2010). "Ugandan Exchange Approves Secondary Listing by Centum Investment of Kenya". Bloomberg News . Retrieved 14 May 2014.
  9. ↑ "Centum's Strategic Evolvement".
  10. ↑ "Business Model".
  11. ↑ Thiong'o, Peterson (14 June 2014). "Centum Shares Hit New Highs on Improved Profits, Mega Projects". The EastAfrican . Nairobi. Retrieved 14 June 2014.
  12. ↑ Ojambo, Fred (12 April 2013). "Kenya's Centum to Invest $22 Million in Ugandan Luxury Marina". Bloomberg News . Retrieved 14 June 2014.
  13. ↑ Kamau, Scola (30 November 2010). "Centum Ventures into High Return Markets". The EastAfrican . Nairobi. Retrieved 10 February 2016.
  14. ↑ "Centum Investment Company Limited FY24" (PDF). Centum Investment Company Limited. 31 March 2024.
  15. ↑ CentumRe is a Superbrand
  16. ↑ Centum-RE wins global accolades
  17. ↑ "Vipingo Development Website".
  18. ↑ "Centum breaks ground for Sh100 billion industrial park".
  19. ↑ Vipingo SEZ Permit
  20. ↑ "Private Equity". Centum Investment Company Limited (CENTM). Archived from the original on 18 October 2014. Retrieved 20 November 2014.
  21. ↑ {{Cite web|FY 2024 Centum Integrated Report
  22. ↑ [https://www.longhornpublishers.com/wp-content/uploads/2024/11/Annual-Report-2024-Final_compressed-2.pdf Annual Report 2024
  23. ↑ My Bidhaa
  24. ↑ Loho Learning
  25. ↑ Greenblade Products
  26. ↑ Revenue Stadia
  27. ↑ FY24 Centum Integrated Report/Page 53
  28. ↑ FY24 Centum Integrated Report/Page 57
  29. ↑ Best Asset Manager Africa 2025
  30. ↑ TRIFIC a member of WAIFC
  31. ↑ Mutegi, Mugambi (18 June 2015). "Centum's profit jumps to Sh7.9bn on sale of UAP". Business Daily Africa . Nairobi. Retrieved 22 September 2017.
  32. ↑ "Centum Exits From RVR". Nairobi: Centum Investment Company Limited. 21 January 2012. Archived from the original on 9 February 2015. Retrieved 2 September 2015.
  33. ↑ Investors inject $US 250 million into Rift Valley Railways International Railway Journal May 2010 page 5
  34. ↑ Juma, Victor (27 January 2015). "Old Mutual Raises Stake in UAP After KSh14 Billion Buyout". Business Daily Africa . Nairobi. Retrieved 27 January 2015.
  35. ↑ "Centum books gain from KWAL".
  36. ↑ RIKE (11 May 2011). "Centum Confirms Carbacid Share Sale" (PDF). Nairobi: Rich.co.ke (RIKE). Retrieved 12 February 2015.
  37. ↑ "Centum sells stake in asset management firm".
  38. ↑ "Centum exits AON".
  39. ↑ Mugwe, David (25 February 2013). "Centum Gets Uganda's Approval on Real Estate Project". The EastAfrican . Nairobi. Retrieved 21 June 2015.
  40. ↑ "Centum gains Sh1bn from Platinum sale".
  41. ↑ "Centum Annual Report FY18" (PDF).
  42. ↑ Juma, Victor (8 December 2014). "Centum buys majority stake in bottling firm". Business Daily Africa . Retrieved 9 December 2014.
  43. ↑ Herbling, David (10 February 2015). "Centum Enters Beer Market With Danish Carlsberg Franchise". Business Daily Africa . Nairobi. Retrieved 10 February 2015.
  44. ↑ "FMCG Portfolio".
  45. ↑ "Private Equity Track Record".
  46. ↑ "History".
  47. ↑ Obura, Fredrick. "Centum investment sells all shares in King Beverage". The Standard. Retrieved 27 August 2021.
  48. ↑ "Central Bank of Kenya: Commercial Banks & Mortgage Finance Institutions". Central Bank of Kenya (CBK). Archived from the original on 1 July 2014. Retrieved 31 July 2014.
  49. ↑ Mwaniki, Charles (20 May 2015). "Centum To Inject KSh1.2 Billion Bond Proceeds into K-Rep Bank". Business Daily Africa . Nairobi. Retrieved 21 May 2015.
  50. ↑ "Financial Services Portfolio".
  51. ↑ Otiato Guguyu (8 June 2022). "Centum sells Sidian Bank for Sh4.3bn to Nigerian lender". Business Daily Africa . Nairobi, Kenya. Retrieved 8 June 2022.
  52. ↑ FY24Centum Integrated Report/Page84
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