Centum Real Estate Limited has appointed Kenneth Mbae as its new managing director effective March 2022. He takes over from Samuel Kariuki who has been at the helm of the firm for the last six years.
Prior to the appointment, Mr Mbae served as the chief operating officer of Centum Re overseeing operations in Kenya and Uganda. He previously served as the founding managing director of Vipingo Development, the largest Centum Re subsidiary.
Besides his stint at Vipingo, as a member of Centum, he has been involved in the delivery of various other projects including development of residential housing at Pearl Marina in Entebbe (Uganda), establishing the estate and mall management business within Two Rivers Development. He has also served as acting deputy managing director of Athena Properties Limited.
Having set up and transformed Vipingo Development to a business valued at over Sh20bn with over Sh9bn in sales and Sh5.3bn in cash collections, led the construction and timely hand over of 510 residential units, a sea water desalination plant with a capacity of over 3mn litres per day, amongst other developments at Vipingo as well as set up of the Vipingo Scholarship fund, Mr Mbae has what it takes to push Centum to the next level.
The board of the NSE-listed company believes he will have the support and respect of his colleagues and know-how to take the company to the next level. He joined the firm in 2010 as an intern.
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