Centum Investment Company Limited

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Centum Investment Company Limited
Public Limited Company
Traded as KN: ICDC
USE:CENT
Industry Investments
Founded 1967
Headquarters Nairobi, Kenya
Key people
Products Equity Ownerships, Real Estate Development
Revenue IncreaseAftertax:US$82.4 million (KES:7.9 billion) (FY:2014/2015)[1]
Total assets US$753.9+ million (KES:72.3 billion) (March 2015)
Number of employees
50 (2013)
Slogan Tangible Wealth
Website www.centum.co.ke

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

Overview[edit]

Centum is a private, publicly owned, investment company, with headquarters in Nairobi, Kenya. Its shares are listed on the Nairobi Stock Exchange (NSE), where they trade under the symbol: ICDC.[2] The company shares are also cross-listed on the Uganda Securities Exchange (USE), where they trade under the symbol:CENT.[3] As of March 2015, total assets were valued at about US$753.9 million (KES:72.3 billion), with shareholders' equity of about US$401.4 million (KES:38.5 billion).[1]

History[edit]

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.[4] The shares of Centum Investments Company Limited have been publicly traded on the NSE since 1967 and on the USE since 10 February 2011.[5] Plans are underway to crosslist the company stock on the Dar es Salaam Stock Exchange and on the Rwanda Stock Exchange.[6]

Investment structure[edit]

Centum's investments are organised into three divisions:

Quoted Private Equity[edit]

This division invests in publicly traded companies in various stock exchanges on the African continent. This segment represents 19% of Centum’s portfolio value.[7] These include:[8]

Private Equity[edit]

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.[10] Per its March 2014 annual report, these included:[8]

  • Centum Asset Managers Limited - 100% shareholding - A fund manager in Kenya.
  • King Beverage Limited - 100 percent shareholding - Owner of a franchise marketing contract with Danish beer manufacturer Carlsberg.[11]
  • Genesis Kenya Investment Management Limited - 73.35 percent shareholding - The second largest fund manager in Kenya.
  • K-Rep Bank - 67.54 percent shareholding - A commercial bank in Kenya, licensed by the Central Bank of Kenya, the national banking regulator.[12][13]
  • Almasi Beverages Limited - 50.95 percent shareholding[14] - 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.[15]
  • 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 international airport in Nairobi and Moi International Airport in Mombasa.

Real Estate and Infrastructure[edit]

This division is involved in real estate development in Kenya[16] and Uganda,[17] with an eye to expanding into other countries in the African Great Lakes region.[18] These include:[8]

  • 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.[15]

Former investments[edit]

Ownership[edit]

As of March 2013, the company stock was owned by the following corporate entities and individuals:[22]

Centum Investment Company Stock Ownership
Rank Name of Owner Percentage Ownership
1 Industrial and Commercial Development Corporation 22.97
2 Christopher John Kirubi 18.36
3 CFC Stanbic Nominees (Kenya) Limited Accounts: A & B 5.52
4 Kiruma International Limited 4.82
5 Standard Chartered Nominees: Account 9389 1.50
6 USE Shareholders 1.49
7 CFC Stanbic Nominees (Kenya) Limited: Account 1030624 0.83
8 International House Limited 0.81
9 Jubilee Insurance Company of Kenya 0.78
10 John Kibunga Kimani 0.75
11 Over 37,000 Other Investors on NSE 42.16
Total 100.00

See also[edit]

References[edit]

  1. ^ a b c Mutegi, Mugambi (18 June 2015). "Centum’s Profit Jumps To KSh7.9 Billion On Sale of UAP Stake". Business Daily Africa (Nairobi). Retrieved 18 June 2015. 
  2. ^ Michira, Moses (6 October 2010). "Kenya: Centum's New Shares Begin Trading". Business Daily Africa (Nairobi) via AllAfrica.com. Retrieved 14 April 2014. 
  3. ^ "Listed Equities On Uganda Securities Exchange". Uganda Securities Exchange. Retrieved 14 April 2014. 
  4. ^ "Centum: Our History". Centum Investment Company Limited. Retrieved 14 April 2014. 
  5. ^ Ojambo, Fred (29 December 2010). "Ugandan Exchange Approves Secondary Listing by Centum Investment of Kenya". Retrieved 14 May 2014. 
  6. ^ Ojambo, Fred (10 February 2011). "Centum Investments Starts Secondary Trading In Uganda". Retrieved 14 April 2014. 
  7. ^ "Quoted Private Equity". Centum Investment Company Limited. Retrieved November 20, 2014. 
  8. ^ a b c "Centum Investment Company Limited 2013/14 Annual Report" (PDF). Centum Investment Company Limited. March 31, 2014. Retrieved November 20, 2014. 
  9. ^ Longhorn Kenya Limited - About Us
  10. ^ "Private Equity". Centum Investment Company Limited. Retrieved November 20, 2014. 
  11. ^ Herbling, David (10 February 2015). "Centum Enters Beer Market With Danish Carlsberg Franchise". Business Daily Africa (Nairobi). Retrieved 10 February 2015. 
  12. ^ CBK, . "Central Bank of Kenya: Commercial Banks & Mortgage Finance Institutions". Central Bank of Kenya (CBK). Retrieved 31 July 2014. 
  13. ^ Mwaniki, Charles (20 May 2015). "Centum To Inject KSh1.2 Billion Bond Proceeds Into K-Rep Bank". Busuness Daily Africa (Nairobi). Retrieved 21 May 2015. 
  14. ^ Juma, Victor (December 8, 2014). "Centum buys majority stake in bottling firm". The Business Daily. Nation Media Group. Retrieved December 9, 2014. 
  15. ^ a b Mugwe, David (25 February 2013). "Centum Gets Uganda's Approval On Real Estate Project". The EastAfrican (Nairobi). Retrieved 21 June 2015. 
  16. ^ Thiong'o, Peterson (14 June 2014). "Centum Shares Hit New Highs On Improved Profits, Mega Projects". The EastAfrican. Retrieved 14 June 2014. 
  17. ^ Ojambo, Fred (12 April 2013). "Kenya’s Centum to Invest $22 Million In Ugandan Luxury Marina". Bloomberg News. Retrieved 14 June 2014. 
  18. ^ Kamau, Scola (30 November 2010). "Centum Ventures Into High Return Markets". The East African. Retrieved 14 April 2014. 
  19. ^ Juma, Victor (27 January 2015). "Old Mutual Raises Stake In UAP After KSh14 Billion Buyout". Business Daily Africa (Nairobi). Retrieved 27 January 2015. 
  20. ^ "Centum Exits From RVR". Centum Investment Company Limited. 2012-01-21. Retrieved 2015-02-09. 
  21. ^ RIKE, . (11 May 2011). "Centum Confirms Carbacid Share Sale" (PDF). Rich.co.ke (RIKE). Retrieved 12 February 2015. 
  22. ^ "Shareholding In Centum Stock" (PDF). Centum Investments Company Limited. Retrieved 14 April 2014. 

External links[edit]