TransCentury Limited
|
Investing in Africa | |
|
Public Company KN: TCL | |
| Industry | Investments, Infrastructure |
| Founded | 1997 |
| Headquarters |
West End Towers, 8th Floor Waiyaki Way Nairobi [1], Kenya |
Area served | Sub-Saharan Africa |
Key people |
Zephaniah Mbugua Chairman Ng’ang’a Njiinu CEO[2] |
| Products | Private equity, infrastructure |
| Revenue |
 :Aftertax KES 1.983 Billion (2014) |
| Total assets | KES 19.464 Billion (December 2014) |
| Divisions | Power, transport, and engineering |
| Website | Homepage |
TransCentury Limited is an infrastructure company whose stock is "listed on the Nairobi Securities Exchange (NSE) with three divisions across 14 countries in East, Central and Southern Africa".
Location
The company's headquarters are located in Nairobi, Kenya, with subsidiaries in the Democratic Republic of the Congo, Kenya,Mauritius, Tanzania, Uganda, Zambia and South Africa.[3]
Overview
TransCentury is an investment and infrastructure company that has grown from a club of 29 friends[4] worth less than KES 30 million in 1997, to a private equity firm [5] and later listing on the NSE.[6]
As at December 2014, TransCentury's total assets were valued at about KES 19.464 billion, with shareholders' equity valued at approximately KES 11.482 billion.[7] The firm acquired a controlling interest in East African Cables in 2004, Avery in 2005, 34% of Rift Valley Railways in 2006, Tanelec and Kewberg cables in 2007 and Civicon in 2011.
Exited investments include Chai Bora of Tanzania which was acquired in 2008 (it was later sold to Catalyst Principal Partners in 2013 for an undisclosed amount) [8][9] and a minority stake in Castle Brewery Kenya Limited (an SABMiller subsidiary) which it exited in 2002 when the brewer's parent firm pulled out of the local market [10] after a market truce with EABL.[11] TransCentury exited Rift Valley Railways (RVR) in April 2014 by selling its 34% stake in the Consortium to Citadel Capital of Egypt for an estimated US$37.8 million (KES:3.216 billon).[12] TransCentury first invested in RVR in December 2006 by acquiring a 20% stake in the company and later increased its shareholding to 34% in May 2010.[13]
In June 2014, TransCentury announced that it was going to invest a subs tantial sum from the RVR sale in a 35-megawatts geothermal power plant consortium in Menengai.[14]
Member companies
The companies that comprise the TransCentury Group of companies include, but are not limited, to the following, as at December 2014.[7]
- East African Cables – Nairobi, Kenya: TransCentury's first major investment. It is a cable manufacturing company that is listed on the NSE as CABL. It has subsidiaries in Kenya and Tanzania and distribution networks across the Eastern Africa region. In 2014, TransCentury owned 64.3 percent of East African Cables.[15] On 26 February 2014, TransCentury announced that it was in talks with Aureos East Africa Fund LLC to acquire all of the shares held by Aureos in East African Cables in exchange for shares of the company, by way of a share swap. This transaction increased the group's shareholding in East African Cables to 68.38%.[16]
- Avery (East Africa) Limited – Nairobi, Kenya: Avery supplies, manufactures, maintains and repairs weighing scales. TransCentury owns 94.4% of Avery.
- Civicon – Mombasa, Kenya: Civicon Limited is an engineering firm. Civicon has operations in Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, Djibouti, Congo DR and South Sudan. Its capabilities include oil and gas, power, industrial installations, specialised transport, roads, bridges, other civil works, and mining. In 2013, Civicon won a lucrative contract that involved building of roads, airstrips and other supporting infrastructure around Tullow Oil's exploration blocks in northern Kenya. TransCentury owns a controlling stake in Civicon.[17]
- Kewberg – Johannesburg, South Africa: Kewberg Cables & Braids Proprietary Limited is a leading manufacturer of instrumentation and control cables, mining and other specialised cables manufactured according to customer specifications.[18]
- Tanelec – Arusha, Tanzania: Tanelec Limited offers comprehensive repair and service on switchgears and transformers. The company services Tanzania, Kenya, Uganda and Zambia. TransCentury owns 70% of Tanelec.[19]
- Cableries Du Congo – Kinshasa, DR Congo: A cable manufacturing and distribution company. TransCentury owns 100% of Cableries Du Congo.
- Development Bank of Kenya – Nairobi, Kenya: A commercial bank in Kenya whose primary focus is to promote and develop commercially viable projects in Kenya. TransCentury owns 10.70% of Development Bank of Kenya with the balance held by ICDC.[20]
Ownership
The shares of the TransCentury are listed on the Nairobi Securities Exchange under the symbol TCL. As of December 2014, the shareholding of TransCentury was as follows:[7]
| TransCentury Stock Ownership | |||||||||||||||||||||||||||
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Governance
TransCentury is governed by an eight-person Board of Directors with Zephania Mbugua as the chairman and Ng’ang’a Njiinu as the Acting CEO.[21]
See also
References
- ↑ TCL (23 March 2016). "TransCentury Limited: Contact Us". Nairobi: TransCentury Limited (TCL). Retrieved 23 March 2016.
- ↑ Ngugi, Brian (29 March 2016). "TransCentury gets six months to clear Sh40 billion bond debt". Business Daily Africa. Nairobi. Retrieved 29 March 2016.
- ↑ Okoth, Jackson (26 April 2014). "TransCentury seeks nod to sell subsidiaries". The Standard (Kenya). Nairobi.
- ↑ Kiuna, Gachao (2014). "TransCentury : A Kenyan success story". Theworldfolio.com. Retrieved 23 March 2016.
- ↑ Were, Emmanuel (5 June 2009). "Kenya’s new capitalists go big on private equity". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ Mugwe, David (6 July 2011). "TransCentury to go public at the price of Sh50 a share". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- 1 2 3 TCL (March 2015). "TransCentury Annual Report & Financial Statement As At 31 December 2014" (PDF). Nairobi: TrasCentury Limited (TCL). Retrieved 23 March 2016.
- ↑ Press Release (16 January 2013). "Transcentury sells stake in tea subsidiary to private equity firm Catalyst" (PDF). Nairobi: TransCentury Limited. Retrieved 23 March 2016.
- ↑ Oyeniyi, Oluwaseun (21 January 2013). "Catalyst PE Acquires Tanzania's Chai Bora". Ventures Africa Magazine. Lagos. Retrieved 23 March 2016.
- ↑ Juma, Victor (13 November 2013). "Mbaru sells shares in TransCentury valued at Sh108m". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ Wahome, Muna (6 June 2011). "EABL to pay SABMiller Sh20bn for subsidiary". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ Musisi, Frederic (3 April 2014). "Citadel Capital gains more RVR stake". Daily Monitor. Kampala. Retrieved 23 March 2016.
- ↑ Monitor Reporter (26 August 2010). "Railway deal signed". Daily Monitor. Kampala. Retrieved 23 March 2016.
- ↑ Juma, Victor (2 June 2014). "TransCentury pays off Equity Bank With RVR Cash". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ Gachiri, John (26 February 2014). "TransCentury eyes tighter East African Cables grip in share swap". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ BDAfrica.com Reporter (15 July 2014). "Regulator approves Aureos, TransCentury share swap". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ Gachiri, John (11 December 2013). "TransCentury’s subsidiary wins new Tullow deal". Business Daily Africa. Nairobi. Retrieved 23 March 2016.
- ↑ KWB (23 March 2016). "Kewberg - About Us". Johannesburg: Kewberg.com (KWB). Retrieved 23 March 2016.
- ↑ TNCT (23 March 2016). "About Us : History : Tanelec Limited". Arusha: Tanelec.co.tz (TNCT). Retrieved 23 March 2016.
- ↑ DBK (23 March 2016). "Shareholders of Development Bank of Kenya". Nairobi: Development Bank of Kenya (DBK). Retrieved 23 March 2016.
- ↑ Juma, Victor (15 January 2016). "TransCentury CEO Gachao Kiuna resigns". Business Daily Africa. Nairobi. Retrieved 23 March 2016.