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The family of the late Kenyan industrialist Chris Kirubi has ended its long involvement in Sidian Bank after Centum Investment Company completed the sale of its remaining interest held through a holding vehicle.
Centum said it has finalized the sale of its entire equity stake in Bakki Holdco Limited, a non operating holding company that was used to hold its position in Sidian Bank. Centum did not name the buyer or disclose the consideration, saying the impact will be reflected in its financial results for the year ending March 31, 2026.
The exit closes a chapter that began in 2001, when Centum first invested in the lender back when it operated as K-Rep Bank, later rebranded to Sidian Bank. Centum increased its control over the years, including a major step in 2014 when it acquired a 66 percent shareholding, lifting its stake to 67.54 percent, before beginning a gradual sell down.
At the center of the final step was Bakki. Centum said it owned 50 percent of Bakki, which in turn held 27.2 percent of Sidian Bank, giving Centum an effective 13.6 percent stake at that stage of the structure.
Centum said the divestment fits its portfolio strategy, describing it as a move aimed at improving liquidity and reallocating capital to new opportunities. It added that it expects a modest gain compared with the carrying value recorded in its books. The company previously put the carrying value of the Sidian investment at about 1.1 billion shillings.
The Kirubi link comes through Centum’s ownership base. Kirubi was a major shareholder in the listed investment firm during his lifetime, and his estate has been widely reported as a leading shareholder after his death.
The sale also follows an earlier attempt by Centum to exit Sidian through a trade sale to Nigeria’s Access Bank. Centum had agreed to sell an 83.4 percent stake to Access for 4.3 billion shillings, but the deal collapsed the following year after the parties failed to close within the agreed time frame.
Sidian has grown fast in recent years, helped by an expansion in corporate accounts and public sector business. Centum said the lender was upgraded to mid tier status after attracting larger clients, including government institutions, and taking on roles tied to national programs. By September 2025, Sidian’s assets had risen to 94.8 billion shillings, up from 57.07 billion a year earlier. Deposits climbed to 78.11 billion shillings, more than double the level in December 2023, according to figures cited in reporting on the transaction.
Centum said it will provide fuller financial detail in its next reporting cycle, leaving the market to piece together the final price and buyer as the ownership structure around Sidian continues to evolve.
