Corporate Governance

Centum Real Estate adheres to high standards of corporate governance. The Board of Directors of Centum RE includes non-executive directors who are sector experts in their various fields. The Centum Real Estate management team has over 30+ years of combined experience in real estate development and project finance in East Africa, with a long track record of successfully identifying, de-risking, developing and attracting third party equity on projects at significant equity upsides.

Executive Directors

Kenneth Mbae (Managing Director, Centum RE)

Kenneth Mbae is the Managing Director of Centum Real Estate, a real estate growth company that develops mixed use urban nodes in strategic locations where families, individuals, and businesses are positioned to thrive. Over the years, Kenneth who begun his career in 2010 as an intern at Centum has obtained hands on experience on every aspect of real estate development, investment, and business value chain through the various leadership roles that he has held at Centum Re.

In his role as Managing Director, Kenneth provides astute leadership to Centum Real Estate in its quest for growth and through its evolution journey to become the “homes developer brand of choice” in Sub-Saharan Africa. He is responsible for the company’s overall vision and strategy, investment priorities, ESG agenda, financial objectives as well as operations. Under Kenneth’s leadership, Centum Re has become one of the largest real estate developers in East Africa. The Company has delivered record sales and profitable growth by expanding into new diaspora markets in the US, Europe, Australia, Middle East and the Rest of Africa.

Kenneth is a trailblazer and result oriented leader with a proven track record in the real estate industry. He has been at the helm of providing oversight to multiple operations, marketing and strategic roles covering multiple large-scale projects in East Africa.

Centum Re under his leadership successfully completed and handed over 1,200 homes with a further 2,100 homes under construction. Most recently, Kenneth retired a KES 3B Centum RE listed Real Estate bond from internally generated funds, monetised the existing land bank and pioneered the installation of the largest sea water desalination plant in Sub-Saharan Africa with a daily capacity of 3 million litres of water. Under his leadership, Centum RE established a Scholarship scheme that provides full high school educational support to brilliant students from underprivileged background and so far, 400 student students have been beneficiaries.

Prior to assuming the Managing Director role, Kenneth held positions of significant responsibility within Centum RE such as the Chief Operating Officer and founding Managing Director of Vipingo Development PLC.

He holds a BSC. Biochemistry from Kenyatta University and an Advanced Management Certificate in Business Management from the Kenya Institute of Management. He is a Harvard GSD Alumni (AMDP XVIII), University of Cambridge Judge Business School SMP 8 Alumni, and a member of the Project Management Institute as well as the Institute of Directors (Kenya). Kenneth is also a Certified RBA Trustee. Kenneth has been named and recognized as one of top 40 under 40 Men during 2021 Business Daily Annual awards.

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Dr. James Mworia Group Chief Executive Officer

Dr. James Mworia (Group Managing Director and CEO, Centum PLC)

Dr. Mworia is the Group Chief Executive Officer and Managing Director of Centum Investment Company Plc, a position he has held since October 2008.

Dr. Mworia serves on several boards, including Sidian Bank Limited, where he serves as Chairman, Lewa Wildlife Conservancy as well as in the Laikipia Development Authority Board. He also previously served on the boards of Almasi Beverages Limited, Nairobi Bottlers Limited and Nairobi Securities Exchange. Dr. Mworia was appointed as Chancellor of Machakos University in October 2016. Dr. Mworia holds a Bachelor of Laws Degree from the University of Nairobi, and an Honorary Doctoral Degree in Business from Machakos University.

He is an Advocate of the High Court of Kenya, a CFA Charter Holder, a Chartered Global Management Accountant, a Fellow of the Kenyan Institute of Management, and a member of the Institute of Certified Public Accountants of Kenya

Independent Non-Executive Directors

James Ruitha (Chairman)

Mr. James Ruitha was appointed Non-Executive Director and Chairman of the Board in February 2020. He is the Managing Director of Advent Valuers Limited Kenya’s leading real estate service company. He is a non-executive director at Vipingo Development Limited.

Mr. Ruitha has served as the Managing Director of National Housing Corporation, the parastatal mandated to build decent affordable houses in Kenya. He has also served in various managerial capacities such as Chief Operating Officer of PDM Valuers and Surveyors and Director in-charge, Valuation and Consultancy Services at NW Realite Limited.

Mr. Ruitha holds a BA Land Economics from University of Nairobi and is a Registered and Licensed Valuer, a registered and Licensed Estate Agent and a Member of the Institution of Surveyors of Kenya. Mr. Ruitha holds a BA Land Economics from University of Nairobi and is a Registered and Licensed Valuer, a registered and Licensed Estate Agent and a Member of the Institution of Surveyors of Kenya.

Mr. Andrew Musangi

Mr. Andrew Musangi currently serves as the Chairman of the Board of Directors of the Central Bank of Kenya. He is a seasoned legal practitioner with expertise in corporate and commercial law, covering areas like Mergers and Acquisitions, Debt Recovery, Securities, Employment law, and Intellectual Property. He has extensive experience in property and land matters and has advised both local and multinational corporate clients.

Mr. Musangi has served as Chairman of the Public Procurement Regulatory Board and of the Rift Valley Law Society and as Council Member of the Nakuru Business Association. He also Chairs the Boards of GenAfrica Asset Managers and Smart Applications International and serves on the Boards of Centum Real Estate Limited and Haco Industries.

Dr. Laila Macharia

Dr. Leila Macharia is a Serial Entrepreneur and Angel Investor, supporting ventures in media, education, data analytics, and financial technology. She is the Chair of the Board at Absa Life Assurance Kenya and previously served as a Non-Executive Director at Barclays Bank of Kenya (now ABSA Bank Kenya).

Her career includes roles as CEO of Scion Real, a consultancy firm specializing in project finance, and practicing law at Kaplan & Stratton, where she managed transactions across Kenya, South Africa, and Uganda. She also worked as a Corporate Finance Associate at Clifford Chance US LLP and served as a Senior Regional Advisor at USAID-East Africa. Additionally, Dr. Macharia led the Africa Initiative at the Global Fund for Women in San Francisco.

She holds a B.A. in Planning & Public Policy from the University of Oregon, a Juris Doctor and LL.M from Cornell University, and a doctorate from Stanford University.

Wanjohi Kangangi

Wanjohi Kangangi is the Sales and Marketing Director at Isuzu East Africa. He joined the company in 1996 and has worked in various roles including logistics, marketing, customer relations, aftersales, and sales till 2012. He then moved to Toyota Kenya to set up the Hino brand as the General Manager.

In 2016, he joined CMC as Managing Director and re-joined General Motors East Africa at the beginning of 2017. Kangangi received both his bachelor’s and master’s degrees in engineering, economics and management from Oxford University, United Kingdom.

Norah Ratemo (representing the Kenya Development Corporation Limited)

Ms. Norah Buyaki Ratemo is the Director General and Board Member of Kenya Development Corporation (KDC) following her appointment on 4th July 2023.

Ms. Ratemo’s previous role at KDC was Director, Investments. She has over 15 years’ experience in Credit Risk Management having worked at Ecobank Kenya as a Credit Analyst, and before then, was engaged as Assistant Manager, Securities and Documentation with Sidian Bank Limited. She currently serves on the board of Kenya Wines Agencies.

Ms. Ratemo holds a master’s degree in business administration finance option from Jomo Kenyatta University of Agriculture and Technology and a Bachelor of Commerce (Bcom) Accounting option. She is a Certified Public Accountant, CPA (K) and a member of the Institute of Certified Public Accountants (ICPAK) and Association of Women Accountants in Kenya.

Mrs. Catherine Igathe

Catherine Igathe is the Managing Director and Founder of Ortus Solutions Group Ltd, a consultancy firm specializing in leadership development, executive mentorship, personal growth, and business strategy. Mrs. Igathe currently serves as Non-Executive Director on the board of GenAfrica Asset Managers Limited. She formerly served as the Managing Director of AIG Kenya Insurance Company Limited, bringing over 18 years of managerial experience to the role. She subsequently served as
the Chief Executive Officer of Jubilee General Insurance Company Ltd.

Mrs. Igathe holds a Bachelor of Science in Business Administration from United States International University. She is also a graduate of the Advanced Management Program from Strathmore Business School and IESE Business School.