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Kenya

Centum gets new boss

NAIROBI, October 23 – Centum Investments has appointed James Mworia as Managing Director to replace Peter Mwangi who exited last week.

A statement from Chairman James Muguiyi said Mr Mworia’s appointment will take effect from December 15, adding that the company’s Board had already informed the Capital Markets Authority and the Nairobi Stock Exchange of the appointment.

Mr Mworia, 30, was formerly the Senior Investment Officer at TransCentury Limited, and is returning to the company where he started his career after graduating from the University of Nairobi and the Kenya School of Law.
 
He becomes the youngest CEO in Centum’s (formerly ICDC Investments) 40-year history. He joined the company as the Management Accountant and rose through the ranks to become the Investment Manager. In December 2006, he left Centum to work at TransCentury Limited, a Kenyan private investment company.

Mr Mworia is a CFA Charterholder and has taught various finance courses at the prestigious Strathmore University. He is a member of the CFA Institute, a Certified Public Accountant of Kenya CPA (K) and a Chartered Management Accountant (ACMA). He is also a member of the Law Society of Kenya (LSK), Institute of Certified Public Accountants of Kenya (ICPAK) and the Chartered Institute of Management Accountants (CIMA).

Centum Investment Company Limited makes investments in both public and private companies. It holds investments in banking, insurance, beverages, automotive assembly and dry cell manufacturing. The Company invests in listed and unlisted companies, ranging from agriculture, industrial production to commercial services.

It re-branded in February this year from ICDC Investments Limited, a brand under which it had operated since its formation as a private investment arm of state-owned Industrial and Commercial Development Corporation.

It ushered a new era to one of the oldest and biggest investment funds in the country.

Centum Investments has already ventured into the Ugandan market and intends to diversify at least 20 per cent of its investment into the regional and offshore markets. The company crossed the Sh1 billion profitability mark this year recording a pre-tax profit of Sh1.2 billion up from Sh696 million in 2006.

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