This archive report was first published on 1 November 2021.
Centum Investments, a leading investment firm, is set to make a significant investment in the Kenyan market with a Sh. 5 billion acquisition drive. The company has already entered into advanced talks with three local companies, which it aims to acquire.
According to Fred Murimi, Managing Partner of Centum Capital Partners, the company is building a promising pipeline of deals, with several investee targets in the coming months. The targeted firms include three Kenyan companies and two from neighboring countries.
Centum's acquisition drive comes after a string of sales, where the company exited several businesses, including Almasi Beverages, UAP Insurance, and Kenya Wine Agencies Limited. The company's current portfolio, valued at an estimated Sh. 9 billion, spans across East Africa, with investments in firms such as Longhorn Publishers, Isuzu East Africa, Nas Servair, and Sidian Bank.
Notably, Centum posted a net loss of Sh. 1.37 billion in the full year ended March 2021, marking the company's first full-year loss in over 40 years. The loss was attributed to operating losses in its investments and businesses, as well as a Sh. 4.2 billion revaluation loss.
