Centum taps insider as Mworia exits after nearly two decades

Centum Investment Company PLC acting Group Chief Executive Thomas Omondi-Achola. [Courtesy]

Centum Investment Company PLC has appointed Thomas Omondi-Achola as acting group chief executive, tapping an internal candidate to succeed long-serving CEO James Mworia, who is leaving to head Kenya’s newly established National Infrastructure Fund (NIF).

The transition, effective immediately, marks the end of an 18-year tenure during which Mworia transformed Centum from a small investment firm into East Africa’s largest diversified investment platform, the company said in a statement.

“His call to national duty at the National Infrastructure Fund is a testament to his exceptional leadership,” the Board Chair said in a statement, expressing confidence in Omondi-Achola’s ability to maintain momentum.

Mworia, who will become the founding chief executive of the NIF, oversaw a tenfold increase in Centum’s assets to approximately Sh46 billion, from just Sh4 billion in December 2008. During his tenure, the company retired Sh20 billion in total debt, including Sh16 billion at the holding company level, eliminating refinancing risk.

The outgoing CEO also repositioned major strategic holdings, including the Vipingo Special Economic Zone, Pearl Marina and TRIFIC SEZ, without requiring additional shareholder equity. Cumulative dividends declared and approved during his leadership reached approximately Sh5.8 billion.

Omondi-Achola, who has served as group chief operating officer and partner for portfolio operations since 2018, brings more than 25 years of senior executive experience to the role. The board cited his track record in strategy development, turnarounds, and capital exits across more than 15 investee companies.

The acting CEO previously led the transformation of Sidian Bank as chief transformation officer, driving it to a profit position within 18 months prior to its successful exit. He also held senior positions at Kenya Airways over 13 years, including chief transformation officer and director of strategy and performance management.

“Having led portfolio operations and major strategic turnarounds across our investee companies for six years, Thomas possesses the exact operational depth, governance experience and strategic vision required to maintain momentum,” the board said.

Omondi-Achola holds an MBA in Finance from the University of Nairobi and an MBA in General Management from IESE Business School in Spain. He currently serves on the boards of Longhorn Publishers PLC, Nabo Capital, Jafari Credit, Tribus Solutions Group, Tier Data and Greenblade Growers.

The transition comes as Centum continues to execute recent strategic milestones, including the successful exit from Sidian Bank, the oversubscribed TRIFIC i-REIT and the recent special dividend recommendation.

Centum is listed on the Nairobi Securities Exchange and cross-listed on the Uganda Securities Exchange.