Browsing: Sidian Bank

• Centum Investment Company has aborted its plans to sell its majority stake at Sidian Bank to Nigeria’s Access Bank PLC after a time lapse in effecting the $34 million deal. 

• The Long Stop Date of the Share Purchase Agreement has passed without all the conditions being fulfilled or waived, despite the support and guidance of the Central Bank of Kenya. 

• Further, Centum has not been able to reach acceptable terms with Access Bank PLC for a further extension of the Share Purchase Agreement.  

Kenya’s  Centum Investment Company has aborted its plans to sell its majority stake at Sidian Bank  to Nigeria’s Access Bank PLC after a time lapse in effecting the $34 million deal. 

Centum Chief Executive Officer James Mworia said the Long Stop Date of the Share Purchase Agreement has passed without all the conditions being fulfilled or waived, despite the support and guidance of the Central Bank of …

• Centum Investments will pay its shareholders KSh 391 million in dividends for the twelve months ended March 2022 amid a persistent record of losses
• The company said the dividend payout follows a reduction in its profitability for the year ended March 2022, when it made a loss of KSh 1.33 billion
• Centum said the dividend payout is part of its strategy to boost returns for its shareholders, who are sitting on major paper losses after the company’s stock declined over the past three years

Regional investment company Centum has announced that it will pay its shareholders KSh 391 million in dividends for the year ended March 2022, even as it recorded another loss.

Centum Investments, on July 26 2022, said the dividend payout is a 77 per cent rise from the KSh 219 million it paid in the period ended March 2021.

During the twelve months ending in march this …

• Kenya’s Centum Investments has sold its entire equity stake in Sidian Bank Limited to Nigerian lender Access Bank at a cost of $36.7 million 
• Centum holds 83.4 per cent of the issued shares of Sidian, directly in its own name and indirectly through its wholly-owned subsidiary, Bakki Holdco Limited
• The two parties said Sidian would eventually be merged with Access Bank’s subsidiary in Kenya to create a stronger banking institution positioned to serve the Kenyan market

Centum Investments has sold its entire equity stake in Sidian Bank Limited to Nigerian lender Access Bank at a cost of $36.7 million.

In a statement, the investment firm, the biggest in East and Central Africa, announced it had entered into a binding agreement with the West African bank.

According to the statement, Centum holds 83.4 per cent of the issued shares of Sidian, directly in its own name and indirectly through its wholly-owned …