How Sidian Bank was forced to pay Sh444m in botched stake sale to Nigerian lender

Sidian bank chief executive officer Chege Thumbi during interview in Nairobi on March 26, 2018.

Photo credit: File | Nation Media Group

In June of 2022, Sidian Bank through its majority owner Centum Investment Company Plc welcomed a new suitor in Nigeria-based Pan-African lender Access Bank.

The transaction, which would have seen Sidian get a new owner and potentially fresh funding to anchor its growth, triggered a costly Sh444 million divorce that pushed the lender into losses.

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