Centum Investment Company Plc has announced the departure of long-serving Group Chief Executive Officer James Mworia, who is set to take up a new national role as the founding Chief Executive Officer of the National Infrastructure Fund (NIF).
Mworia, who has led Centum for nearly 18 years, will step down as the investment company’s CEO as the group begins a leadership transition.
The Board has appointed Thomas Omondi-Achola, currently Partner, Portfolio Operations and Group Chief Operating Officer, as Acting Group CEO with immediate effect.
The transition comes after a period of significant growth and restructuring at Centum under Mworia’s leadership. The company said its total assets have increased from Sh4 billion in December 2008 to approximately Sh46 billion currently.
During his tenure, Centum also retired Sh20 billion in Group debt, including Sh16 billion at the Centum Plc level, eliminating holding company leverage. The company also repositioned and deleveraged major investments including Vipingo SEZ, Pearl Marina and TRIFIC SEZ without requiring additional shareholder equity.
Centum said its portfolio now has more than Sh6.5 billion in embedded economic value from receivables, development rights and inventory, while shareholders have received approximately Sh5.8 billion in cumulative declared and approved dividends.
The leadership change follows several recent transactions involving the group, including the exit from Sidian Bank, the oversubscribed TRIFIC i-REIT and the divestment from Nabo Capital. Centum has also recommended a special dividend to shareholders.
Omondi-Achola takes over as Acting Group CEO with more than 25 years of senior executive and transformation experience. He has served as Centum’s Group COO and Partner for Portfolio Operations since 2018, overseeing strategy, turnarounds, value creation and capital exits across more than 15 investee companies.
He was also Chief Transformation Officer at Sidian Bank, where he was involved in the lender’s turnaround before Centum’s successful exit from the bank.
Before joining Centum, Omondi-Achola spent more than 13 years at Kenya Airways, where he held several executive positions, including Chief Transformation Officer, Director of Strategy and Performance Management, Acting Chief Commercial Officer and General Manager of Jambojet.
Centum Board Chair said the board was confident that the new acting CEO would maintain the company’s strategic momentum during the transition.
Centum is listed on the Nairobi Securities Exchange and cross-listed on the Uganda Securities Exchange. The company focuses on providing development capital across East Africa.
The appointment of Mworia to lead the National Infrastructure Fund places him at the helm of a new vehicle expected to play a strategic role in infrastructure investment and development, marking a shift from private-sector investment management to a national infrastructure mandate.
