Centum Investments Company PLC has announced the sale finalisation of its 25 percent stake in Platcorp Holdings Limited to Suzerain Investment Holdings Company Limited, “a consortium of Platcorp’s management team and a current shareholder.”
Platcorp is the holding company of Platinum Credit and Premier Credit. Platinum is a non-banking non-deposit taking microfinance which operates in Uganda, Kenya, and Tanzania. Platinum offers emergency loans to customers.
Premier is a credit-only microfinance that provides loans to individual SMEs to fund immediate unpredicted capital needs.
“The sale of our stake will lead to increased management ownership of the business, which is an aftermath of their continued confidence in business. Centum invested in the business in December 2012 and it has delivered a stellar 31 percent holding period internal rate of return,” Dr James Mworia, MD and Group CEO, Centum Investment said.
“The proceeds from the sale will enable us to deploy capital in other investment opportunities in our pipeline across our various sectors.”