Dealmaker Kenne owner of Nabo Capital acquirer
Dealmaker Belgrad Kenne has been identified as the majority owner of Rock Investment Bank, which recently acquired a 60 percent stake in Nabo Capital. The acquisition marks a significant shift in ownership for the fund manager previously held by Centum Investment Company.
Why it matters
This transaction represents a major consolidation in the East African financial services sector, impacting market competition and corporate advisory landscapes.
Dealmaker Belgrad Kenne has been revealed as the majority owner of the investment firm that recently acquired a controlling 60 percent stake in fund manager Nabo Capital from Centum Investment Company for an estimated Sh271 million.
Company records show that Dr Kenne holds a 70 percent stake in Rock Investment Bank, equivalent to 1.75 million shares, with the remaining 30 per cent, or 750,000 shares, held by an entity known as Glamour City Limited.
Rock Investment Bank acquired the 60 percent stake in Nabo Capital at the end of June, ending Centum's majority ownership after more than a decade. The value of the transaction was not disclosed, but Nabo Capital had a fair value of Sh452.3 million as of March 2025, when Centum owned it outright, according to the Nairobi Securities Exchange-listed firm's annual report.
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