Kenyan Centum and Cassia Capital Acquire Stake in Microlender
Tuesday, 29 January 2013
Listed investment firm Centum Investment Company has acquired a 45% stake in Platcorp Holdings Limited, the holding company for several regional micro finance institutions. Platcorp owns Platinum Credit Group of companies with regional operations in Kenya, Uganda and Tanzania. The companies in the group are non-banking, non-deposit taking micro lenders that provide emergency loans.

Centum made the investment in partnership with Cassia Capital Partners, also from Kenya: Centum will own 79% of the consortium vehicle, Kilele Limited, and Cassia the remaining 21%. The deal’s value was not disclosed.

Centum is in the process of making substantial investments in the real estate sector and their latest acquisition is in line with the company’s strategy to increase its geographical asset diversification across the business' multiple asset classes.

The company recently raised KES3.2bn in a private placement. It has received approval from Capital Markets Authority (CMA) to list the five-year bond by introduction, and is planning an additional public offer and listing to raise funds for its pipeline of opportunities in both real estate and private equity.


From www.africa-assets.com



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