TransCentury plans sale of Sh1bn properties in Kenya and Uganda
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Nairobi, Jan. 26 -- Investment firm TransCentury plans to dispose of properties worth Sh1.1 billion in Mombasa and Uganda as part of its efforts to improve its cash flow position from the sale of non-core assets.
This marks the latest sale of such assets, with the company having previously put several properties on the market including leased residential houses in Nairobi's Lavington estate and Dar es Salaam in 2019.
"The group is in the process of disposing of some of its non-operating assets to generate operating cash flows," the company said in an information memorandum published in connection with its ongoing rights issues that seek to raise Sh2 billion.
The investment firm plans to sell a property in Mombasa worth Sh700 million an...
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