Home » Centum, controlled by heirs of late Kenyan tycoon Chris Kirubi halts plans to dilute stake in Two Rivers unit

Centum, controlled by heirs of late Kenyan tycoon Chris Kirubi halts plans to dilute stake in Two Rivers unit

by Mfonobong Nsehe
Chris Kirubi

Kenyan investment firm Centum Investment Plc, controlled by Robert Kirubi and Mary-Ann Musangi, heirs to the late tycoon Chris Kirubi’s business empire, has decided to suspend its intention to dilute its stake in its real estate subsidiary, Two Rivers Development Ltd (TRDL). 

Centum currently owns a 58 percent share in TRDL, which in turn possesses a 50 percent share in Two Rivers Lifestyle Centre Ltd, commonly known as the Two Rivers Mall. The recent decision to halt the stake dilution plans follows Centum’s acquisition of a special economic zone (SEZ) license for over half of its Two Rivers development in Nairobi.

This strategic move positions Centum to capitalize on the business-friendly regulations for SEZ-domiciled firms and attract global service companies.

James Mworia, the CEO of Centum, expressed that TRDL was actively seeking a strategic partner and a solution to address its balance sheet challenges, and Centum seized the opportunity by acquiring the asset and subsequently transforming it into a Special Economic Zone.

Mworia emphasized that the acquisition addressed the issues faced by TRDL and opened up new possibilities for Centum to establish an international financial center.

As Kenya’s largest publicly traded investment firm, Centum focuses its investments on real estate and private equity assets in various sectors such as consumer goods, financial services, agribusiness, and power.

Following the passing of Chris Kirubi in 2021, his son Robert Kirubi and daughter Mary-Ann Musangi inherited his 31-percent stake in Centum, along with 80 percent of his fortune, which included interests in KCB Group, Haco Industries, Bendor Estate Limited, and other businesses.

Centum Investment’s decision to halt the dilution of its stake in TRDL demonstrates its strategic focus on maximizing the potential of the Two Rivers development.

With the recent acquisition of an SEZ license, Centum is poised to leverage favorable economic conditions to attract global companies and foster the growth of an international financial center. This showcases the firm’s commitment to adapting and finding innovative solutions in the ever-changing business landscape.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.