By Michelle Ndaga
Diamond Trust Bank Kenya (DTB) has announced the sale of its entire 83.67 percent stake in DTB Burundi to a consortium of Burundian investors, including the subsidiary’s existing minority shareholder. The transaction marks DTB’s full exit from the Burundian market after 16 years of operations.
DTB Group Chief Executive Officer Nasim Devji said the decision reflects the bank’s strategy to concentrate on its core markets. “The Board has carefully reviewed and accepted the offer, which represents fair value for our investment and aligns with our long-term focus on Kenya, Uganda, and Tanzania,” she said.
DTB Burundi, established in 2009, has grown into one of the top ten players in Burundi’s banking sector with four branches, including in Bujumbura.
The deal is subject to approvals from the Central Bank of Kenya, the Bank of the Republic of Burundi, and other regulators.
DTB has issued a cautionary notice advising shareholders and investors to exercise care when trading DTB shares until the transaction is concluded.
