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[5].[6] The company shares are also cross-listed on the
Uganda Securities Exchange (USE), where they trade under the symbol "CENT".[7] 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 2019 Centum's total assets were KSh 101,764,000,000 (US$1,002,490,000) with shareholder's equity of KSh51,576,000,000 (US$508,083,000).[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.[8] The shares of Centum Investment Company Limited have been publicly traded on the NSE since 1967 and on the USE since 10 February 2011.[9] 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".[10] Under Centum 3.0, the company maintains focus through 4 distinct business lines namely Real Estate, Private Equity, Development and Marketable Securities.[11]
Investment Overview
Centum's investments are organised into four key verticals:
This division is involved in real estate development in Kenya[12] and Uganda,[13] with an eye to expanding into other countries in the African Great Lakes region.[14] These include:[15]
Athena Properties Limited - 100 shareholding - A real estate management, ownership, and development company.
Pearl Marina - 100 percent shareholding - 389-acre development located in Ntabo Peninsula, popularly known as Garuga, by the shores of Lake Victoria in Uganda.
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.[19] Investments under this segment include the beverage, publishing, financial services and utilities businesses. Per its March 2018 annual report, these included:[20]
The Marketable Securities Portfolio comprises investments in securities and fixed income instruments managed by
Nabo Capital. The portfolio is broadly diversified across various stock exchanges in Africa and primarily invests in large and mid-capitalization equities while maintaining sizeable allocations to fixed income and cash.[23] This segment represents 8.2% of Centum's portfolio value.[24]
Development Portfolio
This represents investments, outside from real estate, that are still under development. As of March 2018[update] the development portfolio consists of;
Greenblade Growers Limited - 100 percent shareholding - A vertically integrated grower, processor and exporter of fresh herbs, vegetables and fruits from Kenya.
Africa Crest Education Holdings - 16.4 percent shareholding - An investment holding company whose objective is establishing
SABIS® operated K-12 schools across the African continent.
Akiira Geothermal Limited - 37.5 percent shareholding - The first private sector greenfield geothermal development in Sub-Saharan Africa.
Amu Power Company - 51 percent shareholding - A power generation company.
Former investments
In 2014, Centum exited two investment funds
Helios and Nigeria-based African Capital Alliance where total investments were valued at KShs 500 million.[25]
UAP Holdings - 14 percent 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.[28]
Kenya Wine Agencies Limited - 26 percent shareholding previously held - A leading manufacturer, distributor, and importer of wines and spirits in East Africa. This investment exited this investment in 2017 through a direct sale to
Distell.[29]
Carbacid Investments - 22 percent 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.[30]
GenAfrica Asset Managers - 73.4 percent shareholding - The second largest fund manager in Kenya. This investment was exited in 2018.[31]
Aon Insurance Brokers - 22 percent shareholding - An insurance brokerage and consulting services company and the Kenyan subsidiary of
Aon Plc.This investment was exited in 2016.[32]
Platcorp Holdings - Owner of Platinum Credit. 45 percent shareholding. A short term financing company with subsidiaries in Kenya, Uganda, and Tanzania.[33] This investment was exited in 2018.[34]
Almasi Beverages Limited - 53.8 percent shareholding[35][36] - The second largest
Coca-Cola bottling franchise in Kenya.
Nairobi Bottlers - 27.6 percent shareholding - The largest of the Coca-Cola franchises in Kenya.
As of 31 March 2022, the company
stock was owned by corporate entities and individuals. The ten largest shareholders are listed in the table below:[3][46]
^"Centum Exits From RVR". Nairobi: Centum Investment Company Limited. 21 January 2012. Archived from
the original on 9 February 2015. Retrieved 2 September 2015.
^Investors inject $US 250 million into Rift Valley Railways International Railway Journal May 2010 page 5