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Centum 2019/2020
Ericsson
#21 Posted : Tuesday, August 20, 2019 10:33:31 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
sparkly wrote:
Kusadikika wrote:
What is going on???!!!!

Building a war chest to buy something big?? or Seeing danger ahead and wanting to hold onto cash for now??

What would you make of it if you heard Centum is just buying dollars??

Reinvesting in real estate and leasing business
The pessimism is good for buyers Applause
Buffett writes that earnings gyrations “don’t bother us in the least.” After all, “Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.”
This is not a case of losses year after year after year. It's a loss in a project. Happens.

The concentration of the portfolio in Real Estate may be problematic but is also an opportunity. Centum has huge holdings that can produce income, through phased sales, over time.

In the meantime, I hope this news creates a buying opportunity! Laughing out loudly

Real estate in Kenya is crumbling my brother. Unless the economic situation changes, time will get hard for firms like Centum. Atleast they have realized alcoholic beverages, ABL and Sidian Bank were not the best placement of capital
Real Estate is in bad shape but after seeing the types of houses/buildings and prices on HF's website I am not surprised.
Ugly. Expensive.

If Centum can provide quality at fair prices then Kenyans will flock back into real estate. For now, I think Centum should take baby steps in new real estate projects. Phased approach.

At the same time, I do not want Centum to be afraid of making bold moves that seem sensible. Paying off the bond/s is a good move to reduce annual cash outflow by reducing interest costs.


Paying off the bond and they took another ksh.7.4bn loan from Nedbank
Was this recent? I went through the latest Investor Presentation and Financial Report and I think Centum is looking to pay down most of the loans (excluding ODs and some small stuff) at the Holding level including the bond and Nedbank loan by 2021.
Have I made an error or misinterpreted this?

Ulicheswa
It will be an item in FY2019/2020 statements
The news is as below

https://www.businessdail...09090-5whh37z/index.html
rwitre
#22 Posted : Tuesday, August 20, 2019 10:37:25 AM
Rank: Member


Joined: 3/8/2018
Posts: 428
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
sparkly wrote:
Kusadikika wrote:
What is going on???!!!!

Building a war chest to buy something big?? or Seeing danger ahead and wanting to hold onto cash for now??

What would you make of it if you heard Centum is just buying dollars??

Reinvesting in real estate and leasing business
The pessimism is good for buyers Applause
Buffett writes that earnings gyrations “don’t bother us in the least.” After all, “Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.”
This is not a case of losses year after year after year. It's a loss in a project. Happens.

The concentration of the portfolio in Real Estate may be problematic but is also an opportunity. Centum has huge holdings that can produce income, through phased sales, over time.

In the meantime, I hope this news creates a buying opportunity! Laughing out loudly

Real estate in Kenya is crumbling my brother. Unless the economic situation changes, time will get hard for firms like Centum. Atleast they have realized alcoholic beverages, ABL and Sidian Bank were not the best placement of capital
Real Estate is in bad shape but after seeing the types of houses/buildings and prices on HF's website I am not surprised.
Ugly. Expensive.

If Centum can provide quality at fair prices then Kenyans will flock back into real estate. For now, I think Centum should take baby steps in new real estate projects. Phased approach.

At the same time, I do not want Centum to be afraid of making bold moves that seem sensible. Paying off the bond/s is a good move to reduce annual cash outflow by reducing interest costs.


Paying off the bond and they took another ksh.7.4bn loan from Nedbank
Was this recent? I went through the latest Investor Presentation and Financial Report and I think Centum is looking to pay down most of the loans (excluding ODs and some small stuff) at the Holding level including the bond and Nedbank loan by 2021.
Have I made an error or misinterpreted this?

Ulicheswa
It will be an item in FY2019/2020 statements
The news is as below

https://www.businessdail...9090-5whh37z/index.html



Read.

Quote:

The re-financing deal was signed between the Nedbank Corporate and Investment Banking (CIB), the Nedbank property finance division, and Centum Real Estate, the real estate arm of Centum.

VituVingiSana
#23 Posted : Tuesday, August 20, 2019 10:47:47 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,001
Location: Nairobi
rwitre wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
sparkly wrote:
Kusadikika wrote:
What is going on???!!!!

Building a war chest to buy something big?? or Seeing danger ahead and wanting to hold onto cash for now??

What would you make of it if you heard Centum is just buying dollars??

Reinvesting in real estate and leasing business
The pessimism is good for buyers Applause
Buffett writes that earnings gyrations “don’t bother us in the least.” After all, “Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.”
This is not a case of losses year after year after year. It's a loss in a project. Happens.

The concentration of the portfolio in Real Estate may be problematic but is also an opportunity. Centum has huge holdings that can produce income, through phased sales, over time.

In the meantime, I hope this news creates a buying opportunity! Laughing out loudly

Real estate in Kenya is crumbling my brother. Unless the economic situation changes, time will get hard for firms like Centum. Atleast they have realized alcoholic beverages, ABL and Sidian Bank were not the best placement of capital
Real Estate is in bad shape but after seeing the types of houses/buildings and prices on HF's website I am not surprised.
Ugly. Expensive.

If Centum can provide quality at fair prices then Kenyans will flock back into real estate. For now, I think Centum should take baby steps in new real estate projects. Phased approach.

At the same time, I do not want Centum to be afraid of making bold moves that seem sensible. Paying off the bond/s is a good move to reduce annual cash outflow by reducing interest costs.


Paying off the bond and they took another ksh.7.4bn loan from Nedbank
Was this recent? I went through the latest Investor Presentation and Financial Report and I think Centum is looking to pay down most of the loans (excluding ODs and some small stuff) at the Holding level including the bond and Nedbank loan by 2021.
Have I made an error or misinterpreted this?

Ulicheswa
It will be an item in FY2019/2020 statements
The news is as below

https://www.businessdail...9090-5whh37z/index.html



Read.

Quote:

The re-financing deal was signed between the Nedbank Corporate and Investment Banking (CIB), the Nedbank property finance division, and Centum Real Estate, the real estate arm of Centum.

Thanks. "Centum raises Sh6.5bn in project funding deal".
This is a known known and is at the PROJECT/SUBSIDIARY level and not HOLDINGS level. Of course, it all ends up in the same place when consolidated but Centum did indicate 2 years ago that they shall push debt from Holdings to Project/Subsidiary level.

Part of the re-financing was for the Two Rivers Loan so an existing loan was essentially extended. Not a new loan.
The balance is project related but not at the Holdings level.
On consolidation, it all shows up but at least 20bn-ish (FY19) is expected to be paid off by FY21.

Centum might need to sell off stakes in other investees over the next 2 years.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#24 Posted : Wednesday, August 21, 2019 3:00:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,001
Location: Nairobi
Gotta say... One needs balls of steel at this time.
Centum at 31.50 today
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#25 Posted : Wednesday, September 11, 2019 1:34:19 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,001
Location: Nairobi
Centum employees buy Sh50m shares
https://www.businessdail...268210-qfj556/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#26 Posted : Wednesday, September 11, 2019 6:21:43 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
VituVingiSana wrote:


Nineteen employees buy 1.7mn shares.
That's a tiny figure
target1360
#27 Posted : Wednesday, September 11, 2019 8:23:08 AM
Rank: Member


Joined: 5/14/2014
Posts: 282
Location: nairobi
what is 50m divided by the total looooottt of 1.5 billion( read staff bonus).that is 3.4% which i think is negligible. Pr gimmicks i would say.Be wary of businesses that are always in the media pulling stunts
I find satisfaction in owning great business,not trading them
Mastermind
#28 Posted : Friday, October 04, 2019 9:45:18 AM
Rank: Veteran


Joined: 1/25/2012
Posts: 1,619
Location: Langley
PRESS RELEASE– Centum Concludes a Successful Exit of Almasi Beverages Limited and Nairobi Bottlers Limited

Nairobi, Kenya, 3 October 2019 — Centum Investment Company PLC (“Centum”) announces that it has
completed the sale of its 53.9% shareholding in Almasi Beverages Limited (“ABL”) and 27.6% shareholding
in Nairobi Bottlers Limited (“NBL”) to Coca-Cola Sabco East Africa Limited (“CCSEA”), a wholly owned
subsidiary of Coca-Cola Beverages Africa Limited (“CCBA”).

Centum’s original investment in Rift Valley Bottlers and Mt. Kenya Bottlers in the 1970s, the later
investment in Kisii Bottlers and subsequent consolidation of these three bottlers, formed a key part of Centum’s investment strategy to realise value. The consolidation into Almasi Bottlers Limited has since enabled the company to leverage on shared managerial capacity, territory penetration, rationalization and realization of strategic objectives.

Commenting on the transaction, Centum Group CEO, Dr. James Mworia said: “The sale of ABL and NBL
marks another important milestone for Centum. We are pleased to have played a role in providing
strategic guidance to its well experienced management on revenue enhancement, efficiency
improvement and organisational effectiveness. Following our exit to CCBA, which is one of the largest bottlers in the world, we believe they are uniquely placed to create the next phase of value within the businesses. Centum remains committed to its vision of being Africa’s foremost investment channel and will seek to redeploy the funds to cash generative business in line with our investment strategy.”

As at 31st March 2019, Centum held its investments in ABL and NBL at a total value of KES 16.8 billion.
The sale by Centum of its shareholding in ABL and NBL was for a total consideration of KES 19.4 billion
compared to a historical total cost of KES 3.6 billion.

https://centum.co.ke/ima...E_Bottlers_Sale_2019.pdf
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
Ericsson
#29 Posted : Friday, October 04, 2019 10:34:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
[quote=Mastermind]PRESS RELEASE– Centum Concludes a Successful Exit of Almasi Beverages Limited and Nairobi Bottlers Limited

Nairobi, Kenya, 3 October 2019 — Centum Investment Company PLC (“Centum”) announces that it has
completed the sale of its 53.9% shareholding in Almasi Beverages Limited (“ABL”) and 27.6% shareholding
in Nairobi Bottlers Limited (“NBL”) to Coca-Cola Sabco East Africa Limited (“CCSEA”), a wholly owned
subsidiary of Coca-Cola Beverages Africa Limited (“CCBA”).

Centum’s original investment in Rift Valley Bottlers and Mt. Kenya Bottlers in the 1970s, the later
investment in Kisii Bottlers and subsequent consolidation of these three bottlers, formed a key part of Centum’s investment strategy to realise value. The consolidation into Almasi Bottlers Limited has since enabled the company to leverage on shared managerial capacity, territory penetration, rationalization and realization of strategic objectives.

Commenting on the transaction, Centum Group CEO, Dr. James Mworia said: “The sale of ABL and NBL
marks another important milestone for Centum. We are pleased to have played a role in providing
strategic guidance to its well experienced management on revenue enhancement, efficiency
improvement and organisational effectiveness. Following our exit to CCBA, which is one of the largest bottlers in the world, we believe they are uniquely placed to create the next phase of value within the businesses. Centum remains committed to its vision of being Africa’s foremost investment channel and will seek to redeploy the funds to cash generative business in line with our investment strategy.”

As at 31st March 2019, Centum held its investments in ABL and NBL at a total value of KES 16.8 billion.
The sale by Centum of its shareholding in ABL and NBL was for a total consideration of KES 19.4 billion
compared to a historical total cost of KES 3.6 billion.

https://centum.co.ke/ima..._Bottlers_Sale_2019.pdf[/quote]

Mt Kenya,Rift Valley bottlers,Nairobi bottlers and kisii bottlers the original stake before consolidation,centum was given at no cost in the 1970s
chiaroscuro
#30 Posted : Friday, October 04, 2019 10:51:56 AM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,117
Location: Nairobi
target1360 wrote:
what is 50m divided by the total looooottt of 1.5 billion( read staff bonus).that is 3.4% which i think is negligible. Pr gimmicks i would say.Be wary of businesses that are always in the media pulling stunts


Applause

They should be 'out there" talking to customers and selling products.
Balaa
#31 Posted : Friday, October 04, 2019 12:02:28 PM
Rank: Member


Joined: 7/6/2018
Posts: 125
Location: Kinshasa
"If it don't make (me) dollars, it don't make sense"
Ericsson
#32 Posted : Wednesday, October 09, 2019 8:55:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
[quote=Mastermind]PRESS RELEASE– Centum Concludes a Successful Exit of Almasi Beverages Limited and Nairobi Bottlers Limited

Nairobi, Kenya, 3 October 2019 — Centum Investment Company PLC (“Centum”) announces that it has
completed the sale of its 53.9% shareholding in Almasi Beverages Limited (“ABL”) and 27.6% shareholding
in Nairobi Bottlers Limited (“NBL”) to Coca-Cola Sabco East Africa Limited (“CCSEA”), a wholly owned
subsidiary of Coca-Cola Beverages Africa Limited (“CCBA”).

Centum’s original investment in Rift Valley Bottlers and Mt. Kenya Bottlers in the 1970s, the later
investment in Kisii Bottlers and subsequent consolidation of these three bottlers, formed a key part of Centum’s investment strategy to realise value. The consolidation into Almasi Bottlers Limited has since enabled the company to leverage on shared managerial capacity, territory penetration, rationalization and realization of strategic objectives.

Commenting on the transaction, Centum Group CEO, Dr. James Mworia said: “The sale of ABL and NBL
marks another important milestone for Centum. We are pleased to have played a role in providing
strategic guidance to its well experienced management on revenue enhancement, efficiency
improvement and organisational effectiveness. Following our exit to CCBA, which is one of the largest bottlers in the world, we believe they are uniquely placed to create the next phase of value within the businesses. Centum remains committed to its vision of being Africa’s foremost investment channel and will seek to redeploy the funds to cash generative business in line with our investment strategy.”

As at 31st March 2019, Centum held its investments in ABL and NBL at a total value of KES 16.8 billion.
The sale by Centum of its shareholding in ABL and NBL was for a total consideration of KES 19.4 billion
compared to a historical total cost of KES 3.6 billion.

https://centum.co.ke/ima..._Bottlers_Sale_2019.pdf[/quote]

Transaction will be a boost to HY results to be released in November
VituVingiSana
#33 Posted : Wednesday, October 09, 2019 9:21:09 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,001
Location: Nairobi
Ericsson wrote:
Mastermind wrote:
PRESS RELEASE– Centum Concludes a Successful Exit of Almasi Beverages Limited and Nairobi Bottlers Limited

Nairobi, Kenya, 3 October 2019 — Centum Investment Company PLC (“Centum”) announces that it has
completed the sale of its 53.9% shareholding in Almasi Beverages Limited (“ABL”) and 27.6% shareholding
in Nairobi Bottlers Limited (“NBL”) to Coca-Cola Sabco East Africa Limited (“CCSEA”), a wholly owned
subsidiary of Coca-Cola Beverages Africa Limited (“CCBA”).

Centum’s original investment in Rift Valley Bottlers and Mt. Kenya Bottlers in the 1970s, the later
investment in Kisii Bottlers and subsequent consolidation of these three bottlers, formed a key part of Centum’s investment strategy to realise value. The consolidation into Almasi Bottlers Limited has since enabled the company to leverage on shared managerial capacity, territory penetration, rationalization and realization of strategic objectives.

Commenting on the transaction, Centum Group CEO, Dr. James Mworia said: “The sale of ABL and NBL
marks another important milestone for Centum. We are pleased to have played a role in providing
strategic guidance to its well experienced management on revenue enhancement, efficiency
improvement and organisational effectiveness. Following our exit to CCBA, which is one of the largest bottlers in the world, we believe they are uniquely placed to create the next phase of value within the businesses. Centum remains committed to its vision of being Africa’s foremost investment channel and will seek to redeploy the funds to cash generative business in line with our investment strategy.”

As at 31st March 2019, Centum held its investments in ABL and NBL at a total value of KES 16.8 billion.
The sale by Centum of its shareholding in ABL and NBL was for a total consideration of KES 19.4 billion
compared to a historical total cost of KES 3.6 billion.

https://centum.co.ke/ima..._Bottlers_Sale_2019.pdf


Transaction will be a boost to HY results to be released in November
Already a known known as AKS would say. Baked into the current price.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#34 Posted : Wednesday, October 23, 2019 11:15:06 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
VituVingiSana
#35 Posted : Wednesday, October 23, 2019 11:54:02 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,001
Location: Nairobi
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Fyatu
#36 Posted : Wednesday, October 23, 2019 12:43:46 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,706
Location: Nakuru
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here
Dumb money becomes dumb only when it listens to smart money
Angelica _ann
#37 Posted : Wednesday, October 23, 2019 12:52:37 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,470
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
kawi254
#38 Posted : Wednesday, October 23, 2019 1:06:35 PM
Rank: Member


Joined: 2/20/2015
Posts: 374
Location: Nairobi
Angelica _ann wrote:
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.


KenGen is able to make the locals happy - build a school, borehole, e.t.c and gets funding from EIB, World Bank & JICA albeit with GoK guarantees which Centum lacks.

Ericsson
#39 Posted : Wednesday, October 23, 2019 1:14:41 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,393
Location: NAIROBI
Angelica _ann wrote:
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.


This is the geothermal power plant in Menengai
Angelica _ann
#40 Posted : Wednesday, October 23, 2019 2:21:16 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,470
Ericsson wrote:
Angelica _ann wrote:
Fyatu wrote:
VituVingiSana wrote:
Ericsson wrote:
The European Investment Bank (EIB) has cancelled a sh.19.5 billion loan offer to a firm partly owned by Centum Investments over viability and environmental concerns raised by lobbies.
The EIB East Africa head Catherine Collin had last year said the Euros 155 million (Sh.19.5 billion) generation financing package to Akiira Geothermal Ltd "will be finalised soon."
The Centum consortium was expected to contribute sh.11.7 billion or 30% of the project's cost of sh.39 billion while the rest would be funded through commercial loans.
The EIB Deputy Head of Division Joan ManuelSterlin Balenciaga,however,said in communique dated October 10:"After careful consideration and due to the fact that the EIB has seen no progress on the Akiira Geothermal expansion project over the past three years,the EIB has formally decided not to pursue the appraisal of the project."
It's time for Centum to make a 100% provision for Akiira and Amu.



When Centum were offloading Almasi, James Mworia spoke of putting the money into equities. Any idea which stocks at NSE Centum are buying? Mworia is confident that this move will push capitalisation to kshs. 100 billion ala Centum 3.0.
I'm just following the money here


Am i small fish but i saw these shenanigans coming, how the Centum gurus or any other investor in these goal plants dint see this i wonder - based on the 'new' constitution. It was bound to be a fight with the locals and human rights individuals/organizations out to eat. Lakini yote ni sawa.


This is the geothermal power plant in Menengai


Thanks for the correction, my bad!!! I think my comment was driven my AMU which is the coal plant in Lamusmile .
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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