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6 September, 2021
Press Release

As of 1st of September 2021, Cytonn CHYS and CPN Investors have converted Kes 2.5 billion of their investment funds from the two illiquid funds into real estate, translating to a 20% resolution of the debt owed by the two funds.

The conversion of investor funds into real estate is part of the options presented by Cytonn Group, in consultation with various investors, partners, and board officials, on restructuring debt in the two funds. The Kes 2.5 billion has been converted in a period of one year as the funds continue to engage with clients on solutions to the liquidity constraint experienced by CHYS and CPN since the onset of Covid-19, negative publicity and regulatory attacks.

The conversion has been happening across various real estate project developed under the Cytonn brands. Commenting on the conversion, Edwin H. Dande, CEO stated that, “this demonstrates the advantage of investing in real tangible assets that can be seen and held even in tough times.”

Cytonn Investments Management Plc is an independent investment management firm, with offices in Nairobi – Kenya and D.C. Metro - U.S. We are primarily focused on offering alternative investment solutions to Individual High-Net-Worth Investors, Global and Local Institutional Investors and Kenyans in the diaspora interested in the high-growth East-African region. We currently have over Kshs 82.0 billion of investments and projects under mandate, primarily in real estate.