Dr Kaberuka picked to chair Centum board

Former African Development Bank president Dr Donald Kaberuka, has been appointed as the new chairman of the Centum Investments board.

He replaces James Muguiyu who had served as chairman for the past 13 years.

Dr Kaberuka was appointed to the board in October as part of the succession plan.

His appointment comes at a time the investment firm is positioning itself for increased business in Africa, with incoming chairman expected to drive the agenda.

“We are fortunate to have him chair Centum’s board of directors,” Centum Chief Executive Officer James Mworia said at an investor conference.

Dr Kaberuka brings a wealth of experience to the investment firm’s board given his years of service at AfDB.

He has also served as the Minister for Finance in Rwanda as well as other roles in the World Bank and the International Monetary Fund.

He is expected to use his invaluable knowledge of the region to drive Centum’s expansion phase.

The investment firm has strengthened its board with the appointment of Ugandan Attorney General William Byaruhanga, CMC Holdings CEO Mary Ngige and AIG Kenya MD Catherine Igathe.

Centum Investment on Tuesday announced a half year profit of Sh2 billion, a 7.9 percent jump from a year earlier.

The investment firm was able to drop its financing costs with revues growing to Sh8.5 billion.