Athena Properties Ltd

Shareholders of Athena Properties Ltd (now Centum Real Estate Limited)

One shareholder is disclosed. The company’s own audited financial statements for the year ended 31 March 2021 state that its immediate parent and ultimate holding company is Centum Investment Company Plc, a company incorporated and domiciled in Kenya. That parent’s 2026 integrated report reports 100% ownership of Centum Real Estate Limited and carries the holding at KES 18,843,814,000 at 31 March 2026 (KES 18,584,867,000 at 31 March 2025). The disclosure is complete at the level of the immediate shareholder, but every element of it comes from the parent’s published filings rather than from the Kenyan register, which does not publish shareholder lists. The company’s 31 March 2023 balance sheet shows share capital of KES 1.93 billion, equity of KES 16.52 billion and a further KES 9.06 billion of shareholder loans, so shareholder funding is not confined to share capital. Share classes and the issued share count are not disclosed in any source reviewed.

Ultimate beneficial ownership

No natural-person ultimate beneficial owner is verified, and none is asserted here. The sole shareholder is itself a company listed on the Nairobi Securities Exchange and the Uganda Securities Exchange. Its 2026 integrated report lists, at 31 March 2026, the three largest holders of its 665,441,714 issued shares as the Estate of the late Dr Christopher Kirubi (205,098,725 shares, 30.82%), Kenya Development Corporation Limited (152,847,897 shares, 22.97%) and John Kibunga Kimani (76,589,215 shares, 11.51%). Because this company is wholly owned by that parent, each of those figures is also the calculated effective indirect interest in Centum Real Estate Limited at that date.

Those are reportable holdings in a listed company, not a beneficial-ownership determination. Kenya requires every company to keep a register of its beneficial owners and to lodge a copy with the Registrar under section 93A of the Companies Act 2015, but that register is not published through any public channel found, so the filed position cannot be read.

Data availability

Partial. Ownership is fully documented at the immediate-shareholder level through audited filings, and restricted at registry level: Kenya’s Companies Registry publishes neither shareholder lists nor beneficial-ownership data free of charge, an official search (form CR12) costs KES 650 and is issued only through an eCitizen account, and brs.ecitizen.go.ke returned HTTP 403 to automated requests on 29 September 2026. The beneficial-ownership register is filed but not publicly accessible.

The provider record stored against this page returns no shareholder data at all and states that private companies in Kenya are not required to disclose shareholders publicly. The first half is a data gap rather than an absence of shareholders, and the second understates what is on the public record: this company’s ownership is disclosed in full in audited accounts published by a listed issuer.

Sources

• Centum Real Estate Limited (formerly, Athena Properties Limited), Annual report and financial statements for the year ended 31 March 2021, Note 1 General information, signed 1 July 2021 – https://centumre.co.ke/wp-content/uploads/2023/11/Centum-Real-Estate-Limited-31-03-2021-5.pdf (retrieved 29 September 2026)
• Centum Investment Company Plc, 2026 Integrated Report and Financial Statements, Note 1.5.2 Valuation of subsidiaries and Shareholder Analyses, published September 2026 – https://centum.co.ke/wp-content/uploads/2026/09/Centum-Integrated-Report-25-26vfinal-1.pdf (retrieved 29 September 2026)
• Centum Real Estate Limited, Financial results for the year ended 31 March 2023, published 14 July 2023 – https://centumre.co.ke/wp-content/uploads/2023/11/Centum-RE-Financials-FY2023.pdf (retrieved 29 September 2026)
• Kenya Law, Companies Act, 2015 (Act No. 17 of 2015), section 93A – https://new.kenyalaw.org/akn/ke/act/2015/17/eng@2022-12-31 (retrieved 29 September 2026)
• Business Registration Service, Fee Schedule – Companies Registry (official search, CR12, KES 650) – https://brs.go.ke/fee-schedule-companies-registry/ (retrieved 29 September 2026)

Directors and officers of Athena Properties Ltd (now Centum Real Estate Limited)

Six directors are currently disclosed on the company’s own website, retrieved on 29 September 2026: Mr Paul Wanjohi Kangangi as Board Chairman; Mr Kenneth Mbae as Managing Director; and Mrs Catherine Igathe, Norah Ratemo (described on the site as representing the Kenya Development Corporation), Mr Andrew Musangi and Dr Laila Macharia as non-executive directors. The site describes Mr Kangangi’s directorship as “Independent Executive Director” while also naming him Chairman, so that role label should not be relied on as a classification.

The most recent audited officer list that could be opened is in the annual report for the year ended 31 March 2021. It records a nine-member board chaired by Mr James Ruitha with Mr Samuel Kariuki as Managing Director, alongside Dr James Mworia, Mr Frank Ireri, Mrs Mary Ngige, Dr Laila Macharia, Dr Moses Ikiara, Mr William Haggai and Dr Christopher Kirubi, and names Mr Mwangi J. Mbogo, Certified Public Secretary (Kenya), as company secretary; he signed that directors’ report on 1 July 2021. Only Dr Laila Macharia appears on both lists, so the 2021 board is superseded. No appointment, resignation, removal or termination dates are published for the individual directors beyond the two changes below, and no nationality is disclosed by any source reviewed.

Recent officer changes

• Mr Kenneth Mbae was appointed Managing Director with effect from 17 March 2022, announced by a press release dated 18 March 2022. The release states he had previously served as Chief Operating Officer of the company.
• Mr Paul Wanjohi Kangangi was appointed to the board and as Chairman of the Board in July 2026, according to the company’s website. Only the month is given; no day and no filing reference is published.

Data availability

Partial, and current-only in practice. Kenya’s Companies Registry does not publish director lists free of charge: an official search (form CR12), which is the document that names directors, costs KES 650 and is issued only through an eCitizen account, and brs.ecitizen.go.ke returned HTTP 403 to automated requests on 29 September 2026. Nationality is not published by the Kenyan register and is not recorded in the company’s own filings or website, so it is Not disclosed for every person named here. Whether Mr Mwangi J. Mbogo remains company secretary could not be confirmed after 1 July 2021.

The provider record stored against this page states that officer data is not available for this jurisdiction. As a description of what is obtainable that is wrong: the board is published by the company itself and appears in its audited accounts.

Sources

• Centum Real Estate, Board of Directors – https://centumre.co.ke/centum-real-estate-board-of-directors/ (retrieved 29 September 2026)
• Centum Real Estate Limited (formerly, Athena Properties Limited), Annual report and financial statements for the year ended 31 March 2021, Corporate information and Directors’ report, signed 1 July 2021 – https://centumre.co.ke/wp-content/uploads/2023/11/Centum-Real-Estate-Limited-31-03-2021-5.pdf (retrieved 29 September 2026)
• Centum Investment Company Plc, press release “Centum Real Estate Appoints new Managing Director”, Nairobi, 18 March 2022 – https://centum.co.ke/wp-content/uploads/2023/10/Centum_Re_Appoints_new_Managing_Director.pdf (retrieved 29 September 2026)
• Business Registration Service, Fee Schedule – Companies Registry (official search, CR12, KES 650) – https://brs.go.ke/fee-schedule-companies-registry/ (retrieved 29 September 2026)

Group structure of Athena Properties Ltd (now Centum Real Estate Limited)

The company is not independent. Its own audited financial statements for the year ended 31 March 2021 state that its immediate parent and ultimate holding company is Centum Investment Company Plc, incorporated and domiciled in Kenya and listed on the Nairobi Securities Exchange and the Uganda Securities Exchange. Those statements also record the reorganisation of September 2020 under which the group’s real estate assets were consolidated beneath this company: the parent transferred its shareholdings in Centum Development Company Limited and Uhuru Heights Limited to it, and Centum Development Company Limited then transferred Centum Development Kenya Limited and Vipingo Development Plc to it. The parent’s 2026 integrated report confirms that at 31 March 2026 the company still held Uhuru Heights Limited, Centum Development Kenya Limited, Vipingo Development Plc, Vipingo Estates and Centum Development Company Limited, which in turn owns Pearl Marina Estates Limited. The structure spans Kenya, Uganda and Mauritius, and the latest information date is 31 March 2026.

Verified corporate relationships

The percentages are the ownership figures the parent states in note 6.1 of its 2026 financial statements and in note 1.5.2 of the same document; they are stated at group level rather than as this company’s own register-confirmed holding, and no entity in the table could be matched to a registration number.

Recent structural changes

• September 2020: the real estate reorganisation described above, which turned this company from an operating project-management business into the holding company for the group’s real estate assets. Source: its own audited financial statements for the year ended 31 March 2021.
• Year ended 31 March 2026: the group acquired an interest in Vipingo Special Economic Zone, which then issued additional shares to third-party investors. The parent reports a resulting dilution to 25.13% held through Vipingo Development Plc, a loss on dilution, and continued accounting for the investment as an associate because significant influence was retained; it separately attributes to Centum Real Estate an accounting loss arising from the loss of control of a subsidiary.

Data availability

Partial. The structure is documented to audited-accounts standard by a listed parent, but nothing in it was confirmed against the Kenyan register, and no registration number is available for any entity listed: Kenya’s Companies Registry issues company particulars only through a paid eCitizen official search, and brs.ecitizen.go.ke returned HTTP 403 to automated requests on 29 September 2026. A search of the Kenya Gazette collection indexed at gazettes.africa returned no notice naming Athena Properties Limited; the same query form returned Kenyan notices for the control phrases “Two Rivers Development” and “Centum Real Estate”, so the query was working, but that collection’s coverage of the Kenya Gazette is not guaranteed to be complete and the nil should not be read as proof that no notice exists. The parent’s own 2026 report uses both “Plc” and “Limited” for Vipingo Estates and for Vipingo Development, so the exact registered names of those two entities are not settled by it.

The provider record stored against this page states that no parent, subsidiary or ownership linkage is available and that this most often means the company is small, operates as a single entity, or has no international presence. All three suggestions are wrong here: the company is wholly owned by a listed plc and is itself the holding company for at least six entities across three jurisdictions.

Sources

• Centum Real Estate Limited (formerly, Athena Properties Limited), Annual report and financial statements for the year ended 31 March 2021, Directors’ report and Note 1 General information, signed 1 July 2021 – https://centumre.co.ke/wp-content/uploads/2023/11/Centum-Real-Estate-Limited-31-03-2021-5.pdf (retrieved 29 September 2026)
• Centum Investment Company Plc, 2026 Integrated Report and Financial Statements, Centum corporate structure, Note 1.5.2, Note 6.1 Interest in subsidiaries and Note 6.2.1 Investment in associates, published September 2026 – https://centum.co.ke/wp-content/uploads/2026/09/Centum-Integrated-Report-25-26vfinal-1.pdf (retrieved 29 September 2026)
• Business Registration Service, Fee Schedule – Companies Registry – https://brs.go.ke/fee-schedule-companies-registry/ (retrieved 29 September 2026)
• Gazettes.Africa, Kenya Government Gazette collection, full-text search – https://gazettes.africa/gazettes/ke/ (searched 29 September 2026)