Centum drops plan to sell Sidian to Nigerian bank, now targets local investors

Centum Investments has called off an offer to sell its majority stake in Sidian Bank to Nigerian lender Access Bank and instead now plans to offload the shareholding to local investors.

Sources told Nation that the decision has already been communicated to the Central Bank of Kenya—ending an agreement in which Centum was to sell an 83.4 per cent stake in Sidian Bank to Access Bank at an estimated Sh4.3 billion.