Kenya-based Rock Investment Bank has acquired 60% stake in fund manager Nabo Capital from Centum Investment Company ending the listed firm’s majority ownership after more than a decade. The transaction hands Rock immediate control of Kenya’s established investment managers as competition for institutional and retail savings intensifies among financial services firms.
The acquisition is expected to support Nabo Capital’s next phase of growth by combining its investment management capabilities with Rock’s capital markets operations. Nabo Capital currently manages investments across government securities, listed shares, corporate bonds and money market instruments for both institutional and retail investors.
Nabo’s acquisition broadens Rock’s business beyond its traditional investment banking operations into recurring fund management income.
