Business Week Sept 17
Centum Investment Co., East Africa’s largest publicly traded investment group, agreed to buy a controlling 73.4 percent stake in Genesis Kenya Investment Management Ltd. for an undisclosed sum.
The acquisition comes four days after the company, based in Kenya’s capital, Nairobi, said it registered four companies that will invest in the energy, real-estate and beverage industries. In June, Centum said it received regulatory approval to create an asset-management unit, Centum Asset Managers Ltd.
The purchase “is in line with Centum’s strategic objective of growing third-party funds,” the company said in a statement.
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