Sharp Daily
No Result
View All Result
Tuesday, June 24, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home Investments

Nigeria’s Access Bank Buys Centum Stake In Sidian Bank For Ksh4.3 Billion

Editor SharpDaily by Editor SharpDaily
June 8, 2022
in Investments, News
Reading Time: 1 min read
Sidian Bank

Sidian Bank. [Photo/ Courtesy]

Nigeria’s top lender, Access Bank, has acquired an 83.4 percent stake in Sidian Bank from Centum Investments for Ksh4.3 billion.

This comes two years after the Nigerian Lender acquired a 99.98 percent stake of Transnational Bank in 2020 from Close associates of former President Daniel Moi in a deal valued at Ksh1.56 billion.

Access, which has assets of $25.5 billion, focuses on corporate retail banking and it is expected to boost the growth of Sidian, which will be merged with Transnational Bank that was renamed Access Kenya.

Read: Factors To Consider When Investing in Real Estate

RELATEDPOSTS

Access Bank wins Kenya antitrust nod for NBK deal with jobs guarantee

October 30, 2024

KCB sells National Bank of Kenya to Nigeria’s Access Bank

March 20, 2024

Sidian which started as a non-governmental organisation before converting to a micro-financier in 1989 and later to a bank in 1999, mainly lends to small and medium enterprises (SMEs).

“Centum Investment Company Plc (‘Centum’) announces today that it has entered into a binding agreement with Access Bank Plc (‘Access Bank’) regarding a proposed purchase by Access Bank of Centum’s entire equity stake in Sidian Bank Limited,” Centum’s CEO, James Mworia, said in a statement to newsrooms.

Read: Jack Ngare Joins Google Cloud Days After Leaving Microsoft

“It is expected that in due course, Sidian will be merged with Access Bank’s subsidiary in Kenya to create a stronger banking institution positioned to serve the Kenyan market,” he said.

Sidian posted a profit of Ksh117 million in the three months to March, from Ksh113.9 million in the previous quarter.

The Central Bank of Kenya (CBK) ranks Sidian as Kenya’s 23rd bank out of the country’s 39, has remained a tier-three bank since it became a fully-fledged bank close to ten years ago.

Read: Nigeria’s Eden Life Expands To Kenya, Acquires Lynk

 

Previous Post

Mitumba Ban? Here’s What Raila Promised On Textile

Next Post

Jubilee Holdings Ranked As The Most Attractive Insurance Company In Kenya

Editor SharpDaily

Editor SharpDaily

The latest in business, real estate, education, investments, tech and entrepreneurship, brought to you daily. Reach us through thesharpdaily@gmail.com

Related Posts

Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
Analysis

Your First Investment should be an emergency fund with Cytonn Money Market Fund

June 16, 2025
Investments

Contrarian investing in Kenya.

June 13, 2025
Investments

Policies shaping Kenya-Tanzania energy collaboration

June 10, 2025

LATEST STORIES

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 2025

Understanding Joint Ventures: A strategic tool in modern business

June 23, 2025

How bushy can a bush safari get?

June 20, 2025

Understanding SPVs

June 20, 2025

Why small investments are a power move

June 20, 2025

Social consequences of the tax relief for gamblers

June 20, 2025

How E-Tendering can reshape public procurement in Kenya

June 20, 2025

Unlocking long-term wealth with the power of compounding

June 19, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024