Centum Investment Company PLC (Ticker: CTUM) has signed a deal with HR firm ITM Holdings, that allows for “ITM to expand into Kenya’s rapidly growing Business Process Outsourcing (BPO) sector, while supporting Centum’s strategic expansion into Francophone Africa,” the two companies said in a statement on Monday.
- ITM (Originally International Training & Motivation Ltd) was established in 2017 and provides HR services and ERP and Cloud Solutions.
- Centum, founded 1967 as the government-owned Industrial and Commercial Development Corporation (ICDC) is publicly listed on the NSE.
- Under the deal, ITM will set up operations at Centum’s TRIFIC Special Economic Zone (SEZ)
“A cornerstone of this partnership is the relocation of ITM’s HR operations into Centum’s TRIFIC Special Economic Zone (SEZ) in Nairobi, where ITM will play a crucial role in supporting the HR needs of businesses operating within the zone. Drawing on its multilingual and multi-sector expertise,” ITM said in a statement.
“This partnership… represents a strategic milestone for ITM as we continue to consolidate our activities across Africa. It will not only strengthen our market position but also create new growth opportunities,” Sylva Monga, CEO and founder of ITM Holding, said.
““We are excited about the possibilities this partnership presents, as it aligns with our vision to expand Centum’s presence in Africa while unlocking new opportunities across key sectors,” Dr. James Mworia, CEO of Centum Investment Company PLC, added.
