NAIROBI, Kenya — Centum Investment Company PLC has completed the sale of its entire shareholding in Sidian Bank Limited, bringing to an end a 25-year investment in the lender.
In a notice dated March 13, the Nairobi Securities Exchange-listed firm said the exit was finalised through a series of transactions that began in 2023.
The final step involved the disposal of Centum’s stake in Bakki Holdco Limited, a non-operating holding company that owned 27.27pc of Sidian Bank.
Centum previously held 50pc of Bakki’s issued shares, meaning the sale effectively removed Bakki from Centum’s list of subsidiaries.
Financial impact of the transaction
Centum chief executive James Mworia said the investment in Sidian Bank had been carried in the company’s books at approximately Sh1.1 billion.
“The financial effects of the transaction will be reflected in Centum’s next financial reporting cycle for the financial year ending March 31, 2026,” Mworia said.
“The company expects the sale to result in a modest financial gain relative to the previously reported carrying value of Bakki Holdco Limited in Centum’s book.”
Mworia added that proceeds from the transaction will support the firm’s future investment strategy across Kenya and the wider East African region.
“The proceeds from this transaction will enable Centum to continue investing across key sectors in Kenya and the wider East African region,” he said.
Regulatory approvals secured
The transaction received the necessary approvals from the Central Bank of Kenya and the Competition Authority of Kenya.
Centum first invested in the bank in 2001, when the institution operated as K-Rep Bank.
Growth during Centum’s tenure
During the period Centum held a controlling stake, Sidian Bank underwent significant expansion.
According to company disclosures, the bank’s balance sheet grew more than fivefold, rising from Sh16 billion in December 2015 to over Sh90 billion in recent years.
Mworia said the exit reflects Centum’s long-term investment model, where the firm develops businesses and eventually exits to allow new investors to take the companies into their next phase of growth.
The divestment marks one of the latest strategic portfolio adjustments by Centum as it continues to reposition its investments across sectors in the region.
