Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Centum endorses Longhorn Publishers expansion plan, digital strategy

Managing Director Simon Ngigi says the continued growth of the menace has been due to lack of stiffer penalty, which now stands atSh800,000/CFM NEWS

“We are a pan-African business and will continue to maximize returns from existing opportunities, and actively seek new ventures in new markets that will secure our future growth,” asserts Ngigi.

NAIROBI, Kenya, Oct. 31 – Centum Investment Company has endorsed Longhorn Publishers’ strategic plan in its first AGM since it took a majority stake through a Rights Issue completed in April this year.

During the AGM attended by over 250 shareholders on Friday, Centum revealed its increased stake in Longhorn Publishers Limited to 60.20 per cent, a move geared towards strengthening the publishers’ continued expansion into regional growth markets.

According to Longhorn’s Managing Director Simon Ngigi, one of the key investment decision made from the proceeds of the Rights Issue was the acquisition of a 92 per cent shareholding in LawAfrica Publishing Limited, a purchase that gives Longhorn Publishers an automatic leadership position in the East African legal publishing industry.

According to the group’s chairman F.T. Nyammo, the publisher seeks to strengthen its position in the region in line with its expansion plans.

“The Directors are of the view the Longhorn Publishers will benefit from the synergies of the two businesses, not only in Kenya, but within the region where Longhorn Publishers and LawAfrica both have subsidiaries,”  Nyammo said.

Among areas that the publishing house will focus on include the digital arena where Longhorn has launched digital products and an e-learning platforms for what it calls digital learners in Kenya, Uganda, Tanzania, Rwanda, Malawi, Zambia, South Sudan and Ethiopia.

During the AGM, Centum also agreed to defer the divestment of the Funzi Road property given the cyclical softening of the local real estate market as the country heads into an election year. The meeting further resolved that Longhorn’s expansion plan will continue with provisions being made for renting office space in line with the plan.

Speaking after the meeting, Ngigi reiterated the company’s commitment to its pan-African business model as a key pillar for its future growth.

“We are a pan-African business and will continue to maximize returns from existing opportunities, and actively seek new ventures in new markets that will secure our future growth,” asserted Ngigi.

His sentiments were endorsed by Centum’s Brian Kiai who reiterated the investment company’s dedication to Longhorn Publishers and its current strategy.

Advertisement. Scroll to continue reading.

“We are very excited by the management team and what they are doing in terms of their strategy…we expect the business to be going to greater heights in the future,” said Kiai. “The reason why Centum bought into Longhorn’s vision is because we saw that the business is really complementary to what we are doing in education in our own business.”

Centum also hinted at boasting human capital through diversification.

“Centum buying into this business is saying we have full, total, undisputed commitment to the management team of Longhorn, we believe in their strategy plan but more importantly we will support them in whatever plans they are going for as far as product, geographical diversification and enhancing human capital,” Kiai proclaimed.

Longhorn Publishers Limited is the only ISO book publisher listed on the Nairobi Stock Exchange. The company also has partnerships with the Cambridge University Press, Bible Society of Kenya, Biblica Kenya, Scripture Union of Kenya and Educat of South Africa.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...