Centum Sells Majority Stake in Nabo Capital to Rock Investment Bank

Centum Investment Company PLC has announced a new strategic partnership that will see Rock Investment Bank become a strategic shareholder in Nabo Capital Limited.

The company said the move means Nabo Capital will no longer operate as a subsidiary of Centum.

Instead, it will become an associate company, with Centum retaining a 40% shareholding while remaining a significant shareholder alongside Rock Investment Bank.

The announcement was made in line with the Capital Markets (Public Offers, Listing and Disclosures) Regulations, 2023.

According to Centum, the partnership combines the strengths of three institutions to support the growth of Nabo Capital.

Nabo Capital brings its investment management platform, established products, experienced professionals and strong client relationships.

Rock Investment Bank contributes its capital markets expertise, distribution network, technology systems and experienced workforce.

Centum will continue providing strategic support as a long-term shareholder.

The three firms said they will work together to increase Nabo Capital’s assets under management, expand its range of investment products, widen its market reach and strengthen its position as a leading investment management company in Kenya and the region.

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Centum Remains Committed to Nabo

Centum Group Chief Executive Officer James Mworia said the partnership reflects the company’s long-term strategy of working with strong institutions to build successful businesses.

“Centum remains fully committed to Nabo and is pleased to continue as a significant shareholder alongside Rock Investment Bank.”

He added that the three partners share a common goal of building Nabo into a leading investment management business.

“We believe that, together with Rock Investment Bank and the Nabo team, we have assembled the right combination of capabilities, talent and strategic vision to build one of the region’s leading investment management businesses, delivering innovative investment solutions and creating lasting value for our clients, shareholders and the broader economy.”

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Focus on Long-Term Value

Centum said the partnership is expected to deliver innovative investment solutions, create long-term value for clients and support the continued development of Kenya’s capital markets.

The company expressed confidence that the collaboration will strengthen Nabo Capital’s growth and success while benefiting clients, shareholders and the wider economy.

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Centum Sells Majority Stake in Nabo Capital to Rock Investment Bank
PHOTO/NSL/PLC