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Kenya's TransCentury sees further growth this year
Posted on Friday, March 23, 2012 @ 08:12:45 CDT by kwpnews


NAIROBI, (Reuters) - Kenyan investment company TransCentury expects its three divisions to post good growth this year, thanks to investments in infrastructure in east Africa, its chief executive said on Friday.

TransCentury, which posted a 38 percent jump in profit for last year to 869 million shillings ($10.5 mln) on the back of 57 percent growth in revenue, runs power, transport and engineering divisions.

Gachao Kiuna told Reuters the main risk facing the firm's growth outlook was how fast it could work.

"The power division will continue to show strong growth, we will start to see a turnaround of the railway and thirdly we will see a huge growth of our engineering business," Kiuna said.

"The risks for us are around execution. The opportunity is there so it's really how quickly we execute against it. This is the biggest risk."

The firm says it has secured all the required financing and has signed several supply and service contracts.

In 2011, TranCentury invested $20 million in its electric cables and transformer manufacturing businesses, doubling sales of transformers, in a region with a huge energy deficit.

Governments across the region and private investors are racing to make up for decades of underinvestment that led to frequent power black-outs at a time when economic activities are picking up.
Together with its partners in Rift Valley Railways, the firm that operates the Kenya-Uganda railway, TransCentury is investing $287 million in the operation, with the aim of tripling its share of the cargo business to 15 percent in the next two years.

The company said it was proposing an increase in the final dividend to 0.25 shillings per share from 0.20 shillings last time.

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