Centum Investment Group announced at the end of last week that it is in negotiations to acquire three companies based in Kenya and two others in neighboring countries. The company has not released the names of these structures.
However, the group said it plans to invest up to 5 billion shillings (US $ 45 million) over the next five years in various sectors of the economy.
Centum has in the past acquired significant stakes in companies operating in a variety of industries, including financial services, fast moving consumer goods (FMCG), manufacturing, energy, education and technology.
“We are building a pipeline of promising deals, we are in talks with a number of target investors that we hope to close in the coming months,” Fred Murimi, managing partner of Centum Capital Partners said in a statement.
According to the Japanese law firm Anderson Mori & Tomotsune, in this context of health crisis, several Kenyan companies in difficulty in the sectors of travel, entertainment, energy and finance could be bought by capital funds. investment (PE).
“The Covid-19 pandemic has made valuations attractive for private equity funds as investors seek capital to navigate the new normal and take advantage of emerging business opportunities,” Centum said.
As a reminder, Centum Investment Group recorded the first annual loss in more than 42 years, during the first quarter of 2021.