Centum picks new director to head investments arm

Former Centum corporate affairs director Fred Murimi has been appointed to head the company’s investments arm, at a time when the NSE-listed firm has lined-up multibillion-shilling projects.

Mr Murimi has been appointed director of Centum Capital, which is in charge of development and execution of investment opportunities for the firm.

The appointment followed the resignation of James Kaguchia, the position’s previous holder.

Mr Murimi, who has served as Centum’s company secretary since January 2013, will be expected to oversee and help grow the firm’s portfolio in financial services, fast moving consumer goods, real estate, power, agriculture, healthcare, education and ICT.

His position has been taken over by Lois Gakumo, who until now was the group’s legal manager.

“Mr Murimi will oversee execution of Centum’s 3.0 strategy through the development of investment grade opportunities in eight sectors of focus. He will remain responsible for the investor relations function,” Centum said in a notice.

“Ms Gakumo brings a wealth of knowledge and experience in legal and company secretarial matters to the group”

Mr Murimi, who was the head of legal at Tatu City, will be reporting to James Mworia, Centum group’s chief executive officer.

The investment firm reported a 160 per cent growth in net profit to Sh7.9 billion for the full-year to March as total assets grew Sh72.3 billion from Sh29.6 billion the previous year.

Some the company’s major transactions during the last financial year included a capital injection of more than Sh100 million to acquire a majority stake in Almasi Beverages.