GenAfrica Asset is one of the largest pension schemes in Uganda and Kenya. The company has managed to lobby Kuramo Capital’s Management to get most of its stake recently. Over the last 22 years, GenAfrica operated the Kenyan capital market.
According to co-CEO of Kuramo Capital Management, Shaka Kariuki, the institution expects growth. He added that the business will achieve long-term sustainable capital appreciation. The CEO noted that GenAfrica is a strong management team. It will thus improve Sub Saharan Africa penetration. The Kuramo Capital Management stakeholders and clients will also receive fruitful impacts.
The partnership is subject regulatory approvals especially from capital markets authorities. Other conditions include inter alia, Competition Authority and benefits authorities’ approvals. The MD Genafrica Asset Managers Charles O. Ogalo expected worldwide exposure. Besides global exposure, the partnership will help in obtaining diverse investments products. Additionally, the business clients look forward for more benefits from this strategic partner.
Dr. James Mworia, the Centum Group CEO, explained that Centrum played a big role during partnership negotiation. It is a great achievement to have Kuramo as GenAfrica Asset Managers’ shareholder. This is due to its wide asset base and good reputation. He added that present of Kuramo in the business will aids better results to clients. The partnership initiative is in agreement with Centum goal. The vision is to be foremost investment channel in Africa. It is the Centrum culture to attract investors both locals and foreigners. The strategy is to boost extraordinary enterprises.