Rock Investment Bank Acquires Majority Stake in Nabo Capital

Rock Investment Bank has acquired a 60 percent stake in investment management firm Nabo Capital from Centum Investment Company, taking majority ownership in a deal aimed at strengthening the firm’s growth and expanding its presence in Kenya and the wider region.

The transaction leaves Centum with a 40 percent shareholding, meaning Nabo Capital will no longer be treated as a subsidiary of the investment company but will instead be accounted for as an associate. The financial value of the acquisition was not disclosed.

Centum said the partnership brings together Nabo Capital’s investment management expertise and Rock Investment Bank’s capital markets capabilities and distribution network to accelerate the firm’s growth.

“Following this development, Nabo will cease to be a subsidiary of Centum and will become an associate company, with Centum retaining a 40 percent shareholding,” the company said in a statement.

“Centum remains fully committed to Nabo and is pleased to continue as a significant shareholder alongside Rock Investment Bank.”

The companies said the new shareholding structure is expected to support the expansion of assets under management, broaden Nabo Capital’s investment product offering and strengthen its footprint in both the Kenyan market and the wider region.

The acquisition received approval from the Capital Markets Authority and was disclosed in accordance with the Capital Markets (Public Offers, Listing and Disclosures) Regulations, 2023.