The former ICDCI will officially become Centum Investment Company Ltd. at the end of the month after the company’s AGM – ending years of confusion with ICDC – its former parent company.
Other than the name change, they are also adjusting their financial year end from June to March which means the year 2007-8 will end in March 08 – just 9 month long).
Last year was active for their investments, but the abbreviated year results could be badly hit by the post-election events. They had acquired shares in KQ, KPLC, Mumias, lightened on Eveready (largest shares block now KCB, Kenya Airways, EABL and Mumias) and sold off real estate (Kimathi House and Consulate Chambers) to improve liquidity. On the unlisted front, they acquired 10% of Rift Valley Railways (and will acquire another 10% from IFC over the next four years) and increased their stake in Kisii bottlers to 24% – so their unlisted portfolio is mainly two insurance and four coca cola bottling companies.