Centum owned Sabis School injects Sh1bn for expansion
https://www.businessdail...9822-eg8e1ez/index.html
The Runda based elite school which welcomed its first batch of 100 students in September this year expects the second phase of expansion in Runda will raise its admission capacity to a total of 1,200 students.
"We expect to admit hundreds of more students starting next year based on the interest recorded from parents," said Mr Kleynhans in a statement.

Sabis is in direct competition with other elite learning institutions such as the German School, International School of Kenya, Potterhouse School, Braeburn, Rosslyn Academy, Kenton and St Andrews Turi.

The international schools space has recently benefited from a steady growth of the middle class and the large pool of expatriates working for multinationals, foreign governments and global institutions like the UN. The top-of-the-range schools charge annual fees of between Sh200,000 and Sh600,000 for day scholars while those in boarding school pay up to Sh1.7 million a year.

#TukoPamoja

Yep! Except the off-loading part. I am staying in until we see the fruits harvested.

You are looking for the wrath of @mugundaman.

Sina chapaa but I believe in it for the medium term. Sina insider info
I read the Annual Report and the Investor Presentation.

From the Debt you should deduct the cash (and liquid assets) they have.

As per FY2017 results yes

It is fattened for slaughter

Customer Deposits are 12.8 BILLION.
From the 45bn you should deduct the portion at that attributable to bank deposits and bank borrowings given these are not obligations of Centum and Centum does not have direct access to these funds.
As an example: If HF goes under, then Britam loses its deposits at HF and the % of its portion of shareholders capital.

45bn - 12.8bn - 3.2bn = 29bn
* Deferred Income Tax may or may no be considered a liability for this calculation given it only mature if there is a taxable event.

There are other "Minority Shareholders" in the group so let's look at the D:E Ratio for the "Company" which is more representative.
Debt: 17.4bn
Equity: 48.7bn