Kirubi gets top honour at 2015 Africa CEO Forum

March 17, 2015
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Every year, organisers of the Africa CEO Forum hand out awards to companies and investors whose strategy demonstrate their determination to participate in the dynamic growth of Africa/CFM BUSINESS
Every year, organisers of the Africa CEO Forum hand out awards to companies and investors whose strategy demonstrate their determination to participate in the dynamic growth of Africa/CFM BUSINESS
NAIROBI, Kenya Mar 17 – Centum Investments Company director Dr Chris Kirubi has been crowned Africa CEO of the year at the 2015 Africa CEO Forum Awards.

Every year, organisers of the Africa CEO Forum hand out awards to companies and investors whose strategy demonstrate their determination to participate in the dynamic growth of Africa.

Kirubi tied in the top position with Algeria’s Issad Rebrab, Cevital Group CEO.

Other nominees for the award included Nigeria’s Wale Tinubu – Oando, Egypt’s Ahmed Abou Hashima – Egyptian Steel, Zimbabwe’s Morgan Nzwere – Seedco among others.

“Because their achievements encourage the emergence of competitive African businesses which have the potential of becoming international groups, the nominees – and winners – are selected for demonstrating their commitment and results in four keys areas among them, promotion of the African private sector and strengthening regional integration,” the forum organisers said.

Other areas are development of intra-African trade, social and environmental responsibility.

About a month ago, Dr Kirubi together with the Africa CEO Forum, took to Twitter and held a Q&A with followers on the topic “The African Urbanization Challenge”.

The theme was chosen in relation to one of the main plenary session that topped the agenda of the Africa CEO Forum 2015 and also in relation to Centum’s infrastructure development agenda. During the one week, Kirubi received various questions in both French and English from followers all over the world. See article (http://www.capitalfm.co.ke/business/2015/03/29423/).

The twitter discussions have been part of Africa CEO Forum’s pre-event communication campaigns that have attracted the participation of several African CEOs. Dr Kirubi will be speaking in the Developmental Panel: Urban Population Explosion: Turning challenges into opportunities for Africa’s private sector at the forum.

Centum Investment Company – where Kirubi is the single largest shareholder – reported a 37.8 percent growth in the 2014 half year net profit to Sh1.23 billion with its investment income in the six months to September 2014, hitting Sh1.89 billion, a 58.8 percent growth from last year’s Sh1.19 billion, earnings.

During the same period, the investment firm successfully acquired a controlling stake in K-Rep Bank, raising its shareholding from 7.54 per cent to 67.54 per cent.

READ: Centum to acquire controlling stake in K-Rep Bank

Centum’s Total Assets Under Management as at March 31 2014, have grown 23 times, increasing from Sh6 billion in 2009 to Sh147 billion in 2014 while Net Asset Value has grown by Sh17 billion from Sh5.9 billion to Sh22.9 billion, translating to a 291 percent growth during the same period.

The company focuses its Investment through three business lines: Private Equity, Quoted Private Equity and Real Estate and in eight sectors; Financial Services, Energy, Agriculture, Education, Health, Fast Moving Consumer Goods (FMCG), Information Communication and Technology and Real Estate.

READ: Why I sold my stake in UAP Holdings – Dr Kirubi

Centum is helming one of the biggest real estate ventures on the continent, The Two Rivers development in 100 acres of prime real estate in Runda.

This multi-use complex will include a mall, a large water front, residential apartments, two hotels and a hospital with its infrastructure expected to be completed in June 2015.

The firm also got the green light to construct a 960 megawatt coal power plant in Lamu at a cost of Sh164 billion.

Centum is also developing the Pearl Marina estate in Uganda, a project similar to Two Rivers, covering 300 acres.

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