Centum Investment Company’s private equity wing CTUM.NR has set aside $44.02 million to acquire stakes in local firms and those in neighbouring countries.
The firm, listed in Nairobi Securities Exchange and Uganda Securities Exchange, said in a statement that they have already identified five investee targets in Kenya and neighbouring countries.
“We’re in talks with a number of investee targets that we hope to conclude in the coming months. Three of the targeted firms are based in Kenya, while two are in neighbouring countries,” Fred Murimi, Managing Partner of Centum Capital Partners said.
Murimi stated that the investee businesses will benefit from having local teams that understand the local economic terrain and has deep networks and expertise in growing value for the owners. “We take a long-term view to investing in businesses. We take elections and such other events as short-term disruptions that do not cause us to hold back from investing,” said Murimi.
The Group has a diversified portfolio in financial services, fast-moving consumer goods, energy, agribusiness, education and healthcare. Centum reported a reported $12.31 million net loss in the financial year ended March 2021 is a drop from a $41.62 million net profit posted in the preceding financial year.