On 21st July 2018 and 28th July 2018, Cytonn held its Q3’2018 Market Outlook and Company Updates events. The quarterly forums provide extensive insights into Cytonn’s outlook on the macroeconomic and operating environment while also providing an opportunity to directly engage with its clients and receive feedback on how to improve on its products and services.
The first market outlook report release was held on 21st July 2018, at The Alma, its comprehensive residential development in Ruaka. Clients and prospects were granted the opportunity to visit the ready showhouses as well as to assess the progress of the development that is currently 65% complete.
Caleb Mugendi, Cytonn’s Snr. Investment Analyst
Speaking during the forum, Caleb Mugendi, Cytonn’s Snr. Investment Analyst shared the 2018 Kenya’s Economy performance review and an outlook of the sectors that would shape the country’s economic growth in 2018. “We remain positive about the real estate sector owing to increased infrastructure investment by the government, increased expansionary moves by existing local players as well as increased interest by major players to educate the market on areas to invest in,” he noted.
Yvonne Ondego, Cytonn’s Snr. Project Management Analyst
Yvonne Ondego, Cytonn’s Snr. Project Management Analyst provided key highlights regarding the progress of the various live Real Estate projects such as The Amara Ridge, Cytonn’s inaugural project, whose construction is 100% complete. The development is fully sold out and the homes handed over to the owners. The other project, The Alma is 65% complete and 55% sold. Phase one is 77% sold and the handover of units scheduled for December 2018.
The clients and prospects present were also introduced to the project contractors of The Alma as well as Cytonn’s Real Estate’s team responsible for developing the various projects under mandate.
Maurice Oduor – Snr. Investment Manager
The 2nd Q3’2018 Market Outlook and Company Updates event was held at the Capital Club, on 28th July 2018. Speaking at the event, Maurice Oduor, Snr. Investment Manager highlighted the performance of the Cytonn Financial Services Fund (CFSF) which has achieved a return of 62.3% since inception with the fund currently up 18.5% Year to Date (YTD).
Clients following the Q3’2018 Market Outlook
Catherine Mbuthia, Risk and Compliance Analyst at Cytonn Investments, gave an overview of Cytonn’s Real Estate risk and compliance structure, noting, “Cytonn’s defense model is made up of three lines of defense, which ensure that we effectively manage risks that could affect the projects. These are Operational Management which focuses on managing internal controls, Risk Management which manages compliance, quality assurance and control, and lastly, Internal Audit.” She pointed out. Catherine also assured the clients present that the company monitors key risk exposures in order to sufficiently de-risk the business.
A client affirms his support for the brand during the Q&A session
Both sessions culminated into Q/A sessions, with clients keen to appreciate the commitment of the brand in providing continuous feedback regarding their investments in addition to upholding the highest levels of corporate governance.
Shiv Arora, Cytonn’s Head of Private Equity giving his vote of thanks.
Shiv Arora, Cytonn’s Head of Private Equity, while sharing the vote of thanks assured the clients that the company remains focused on execution and as per the company’s transparency culture, Cytonn would continue to be open regarding its business by responding to any operations concerns the public might have.
