Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.

Share price is responding to this.
Heading towards below ksh.2.20

Even if covid vaccine was there that bond would still failed to get 100% subscription.

there is no harm in Kenya Re failing to sell the building but there is more harm in Centum failing to get buyers for its tuplots.

On the ground things are different for Centum,don't rely so much on powerpoint presentations.

The MD has confirmed that they will be paying dividend during release of FY financial results in April.

This isn't a Centum thread but while you were sulking Riverbank has been handed over to buyers. 60 of 84 units delivered/sold despite COVID and going into an election year.

Any news of Kenya Re's sale of the (fake price) 1bn building in Kisumu?

What return does Zep Re give Kenya Re?
How much more did they buy?
Price paid?

https://www.businessdail...n-defaults-rise-3773780

Kenya Re has disclosed that insurance companies and brokers have defaulted on Sh8.57 billion premiums, hurting the profitability of the Nairobi Securities Exchange-listed firm which has had to make provisions for the amounts receivable.

The company said in its financial statement for the year ended December 2021 that the unremitted premiums had risen by Sh2.7 billion in the period, indicating that insurers are either struggling for funds or have become lax in their obligations to the reinsurer.

Kenya Re makes provisions for the unremitted premiums in its balance sheet, and when some of these impairments are realised, they impact negatively on its bottom line.

“Delays in receiving outstanding reinsurance premiums continue to pose credit risk to the group. This is mainly from outstanding retro recoveries as well as outstanding premium receivables from cedants and brokers,” said Kenya Re.

“As at December 2021, gross receivables stood at Sh8.57 billion against provisions of Sh3.89 billion as compared to December 2020 where gross reinsurance receivables stood at Sh5.865 billion against provisions of Sh3.87 billion.”

The listed reinsurer saw its net profit for the year rise marginally by 0.8 percent to Sh2.97 billion, after incurring an impairment hit of Sh909.4 million for bad debts relating to the unpaid premiums—up from Sh227.8 million in 2020.
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