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Corporate

TransCentury’s new PE fund shareholder keeps faith with CEO

TransCentury chief executive Ng’ang’a Njiinu. FILE PHOTO | DIANA NGILA
TransCentury chief executive Ng’ang’a Njiinu. FILE PHOTO | DIANA NGILA 

New York-based private equity (PE) firm Kuramo Capital has kept faith with the acting TransCentury CEO Ng’ang’a Njiinu, confirming him as the chief executive after temporarily holding the post for nine-and-a-half months.

Kuramo, which recently injected Sh2 billion into the investment firm in exchange for a 25 per cent stake, has veto powers on a range of decisions including the hiring and removal of TransCentury’s chief executive and chief financial officer.

The new powerful shareholder has now approved that Mr Njiinu, who has also been serving as the firm’s head of corporate finance, to become the its substantive chief executive.

He took over from Dr Gachao Kiuna who resigned on January 14.

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