Diamond Trust Bank Kenya to Divest 83.67% Stake in Burundi Subsidiary

DTB Kenya Announces Sale of Majority Stake in Burundi Unit

Diamond Trust Bank Kenya (DTB Kenya) has officially announced its intention to sell its 83.67% shareholding in its Burundian subsidiary, Diamond Trust Bank Burundi S.A. (DTB Burundi). The sale will be made to a consortium of primarily Burundian investors, which includes the existing minority shareholder of DTB Burundi. The decision was approved by the DTB Kenya Board on September 20, 2025, with a cautionary announcement issued to shareholders on September 23, 2025.

Strategic Realignment and Market Focus

The divestment is a strategic move by DTB Kenya to concentrate its operations on its core markets within East Africa, specifically Kenya, Uganda, and Tanzania. According to Nasim Devji, Group Chief Executive Officer of DTB, the Board reviewed the offer from the consortium and believes it represents 'fair value and a return on investment' for DTB. Devji also highlighted that the transaction supports local investors committed to advancing financial inclusion in Burundi. DTB Kenya entered the Burundian market 16 years ago as part of its financial inclusion agenda, and the bank believes it is leaving behind a 'stable and well-managed financial institution'.

Growth and Impact of DTB Burundi

Since its establishment in 2009, DTB Burundi has grown significantly. It began operations with a single branch in Bujumbura and has since expanded its network to four branches. Over the years, DTB Burundi has become a notable player in the country's financial sector, ranking among the top ten banks in Burundi. The subsidiary has served a diverse client base, offering a wide range of banking services to retail, business, and corporate clients.

Regulatory Approvals and Investor Caution

The completion of this transaction is contingent upon receiving various regulatory approvals. These include endorsements from the Central Bank of Kenya (CBK), the Bank of the Republic of Burundi, the Capital Markets Authority (CMA), and other relevant regulatory bodies. In compliance with the requirements of the Nairobi Securities Exchange (NSE), DTB Kenya has issued a cautionary announcement. Shareholders and investors have been advised to exercise caution when trading the bank's shares until the transaction is finalized. Once all approvals are secured and the deal is concluded, DTB Burundi will cease to be a subsidiary of DTB Kenya.