Kenyan investment firm Centum completes share buyback, acquires 10.8 million shares

Centum Investment Company, the Nairobi Securities Exchange–listed group, has completed a multi-year share buyback, repurchasing 10.84 million shares on the Nairobi Securities Exchange (NSE) as part of efforts to strengthen its capital structure and boost shareholder value.

The firm, historically linked to late billionaire Chris Kirubi, executed the program between 2023 and 2026 under regulatory approval. While the buyback targeted up to 10% of issued shares, valued in the billions of Kenyan shillings, the final acquisition underscores a disciplined, cash-focused strategy amid evolving market conditions.

Strengthening capital structure
The buyback programme, which targeted up to 10% of the company’s issued share capital, began in February 2023 and was extended through August 2024 following approval from the Capital Markets Authority. A second phase commenced in October 2024 and ran until March 31, 2026.

Despite the ambitious target of over 65.5 million shares, Centum ultimately acquired 10,839,300 shares across both phases, 10.69 million shares under the initial programme and 150,800 shares in the second round.

Post-buyback shareholding structure

Following the completion of the programme, Centum’s total issued share capital remains at 655.59 million ordinary shares, each valued at Ksh0.50. After accounting for treasury shares, the number of shares available for trading on the NSE now stands at 644.75 million.

All repurchased shares will be held as treasury stock, a move that typically enhances earnings per share and supports long-term shareholder returns.

Strategic execution amid regulatory oversight
Centum continues to be influenced by Mary-Ann Musangi and Robert Kirubi, heirs of the late Kenyan tycoon who held over 30% stake until his passing in 2021. The siblings inherited several of his assets, including stakes in Centum, KCB Group, Haco Industries and Bendor Estate, and have favored a conservative, cash-focused strategy to preserve value.

The buyback was carried out in compliance with Kenya’s Capital Markets regulations and the Companies Act, with all statutory filings and disclosures to be completed accordingly.

The conclusion of the programme underscores Centum’s disciplined capital allocation strategy, as the firm continues to navigate evolving market conditions while reinforcing investor confidence in one of East Africa’s leading investment companies.