Publicly listed investment firm Centum is looking for cross-border acquisitions in its bid to enter new markets across Africa.
The company is eyeing Anglophone East and West African countries including Uganda, Tanzania, Ghana and Nigeria.
Chief executive James Mworia said the company would be seeking to expand its operations into new territories through joint ventures.
“It is easier to expand through portfolio companies,” Mworia told The EastAfrican.
The company, which is listed on the Nairobi Securities Exchange, has implemented several acquisitions in the past six years, most of which focused on the Kenyan market.
Currently, Centum has a shareholding in Almasi Bottlers (51 per cent), Kenya Wines Agencies Ltd (26.43 per cent), Genesis Kenya (73.35 per cent) and K-Rep Bank (65.7 per cent).
Centum also acquired a 35 per cent shareholding in Platcorp Holdings Ltd — the holding company of Platinum Credit Ltd (Kenya), Platinum Credit (Uganda) and Platinum Credit Ltd (Tanzania).
The company said it is keen on eight key sectors during its five-year (2014-2019) strategic plan. These are financial services, fast moving consumer goods, real estate, power, agriculture, education, healthcare and information and communications technology (ICT).
The company has won a tender to put up a 1,050 MW coal fired power plant in Lamu through a consortium with Gulf Energy.
The consortium has set up a special purpose vehicle (SPV) called Amu Power Ltd to deliver the project.
Centum has committed to invest at least $100 million in Amu Power or 25 per cent of the total equity requirement by the project.
It is expected to invest $37 million in Akiira One Geothermal, the first private sector greenfield geothermal private development in sub-Saharan Africa.
Centum is also part of a consortium prospecting for geothermal energy with plans to add 70MW of clean energy to the national grid in the first phase of the planned total of 140MW.
