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The late Chris Kirubi’s Children gain $1.3 million from stake in Centum

The late Chris Kirubi’s children Robert Kirubi and Mary-Ann Musangi, have witnessed a significant increase of more than $1.3 million in the market value of their stake in Centum Investment, in the past 153 days.

The market value of their joint stake in Centum has increased by Ksh197.67 million ($1.32 million) since May 17 as investors on the local bourse continue to increase their stakes in Kenya’s largest listed investment firm.

Kirubi was an investor who owned a 30.94-percent stake in Centum Investments, an equivalent of 205,908,205 ordinary shares.

His son, Robert Kirubi, and daughter, Mary-Ann Musangi, inherited 80 percent of his fortune, including stakes in KCB Group, Haco Industries, and Bendor Estate Limited.

The duo now holds a stake in Centum Investments, which their father once owned.

From May this year to date, Centum shares on the Nairobi Stock Exchange (NSE) have surged by 12 percent, climbing from Ksh.8.00 ($0.0535) on May 17 to Ksh.8.96 ($0.0599) as of October 18, 2023.

This pushes Centum’s market capitalization closer to $40 million and returns gains amounting to millions of dollars for its shareholders, including Kirubi’s heirs.

Centum Investment Company reported earnings results for the full year ended March 31, 2023.

For the full year, the company reported sales of Ksh.2.2 billion compared to Ksh.3 billion in 2022.

Net loss was Ksh. 7.3 billion million compared to Ksh.2 billion a year ago.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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