• Diamond Trust Bank Kenya sells 83.67% stake in its Burundi subsidiary.
• The sale aligns with DTB's strategy to refocus on Kenya, Uganda, and Tanzania.
• A local investor consortium, including an existing minority shareholder, acquires the stake.

Diamond Trust Bank (DTB) Kenya Plc (NSE: DTK) announced on Monday, September 22, 2025, its agreement to divest its 83.67% ownership in Diamond Trust Bank Burundi, its banking subsidiary in Burundi. The transaction marks the Kenyan banking group's withdrawal from the Burundian market.

DTB Kenya executed a share purchase agreement with a consortium of local investors. This consortium includes an existing minority shareholder in the Burundi subsidiary, who sought to increase their control of the institution. The completion of this transaction remains contingent upon receiving regulatory approvals from the Central Bank of Kenya, the Bank of Burundi, and potentially the Capital Markets Authority.

A Strategic Realignment

Nasim Devji, Group Chief Executive Officer of DTB, stated the Burundi exit represents a strategic realignment. The group will now concentrate its operations on its three core markets: Kenya, Uganda, and Tanzania. DTB holds a 67.18% stake in its Ugandan subsidiary and 65.68% in its Tanzanian counterpart. Devji commented, "The board of DTB Kenya reviewed the offer from the consortium and our long-standing partner in Burundi, and believes it represents a fair value and return on investment for DTB."

DTB entered Burundi in 2009 as part of its financial inclusion initiative. After 16 years of operation, the bank believes it leaves behind a robust and well-structured institution. DTB Burundi has expanded its network and diversified its financial product offerings for individuals, SMEs, and large corporations. The institution has become a leading bank within Burundi's financial sector, which comprised 15 credit institutions—14 banks and one financial institution—as of year-end 2023. The acquisition by a local consortium, involving the minority shareholder, paves the way for consolidated national ownership and continued banking activities under new governance.

Burundian Banking Sector Overview

As of year-end 2023, credits to the Burundian economy from the banking sector constituted 36.9% of GDP, an increase from 30.9% in 2022. The sector’s total assets reached 7,908.4 billion Burundian Francs (BIF), up 22.4% from 6,462.3 billion BIF at year-end 2022. Banking sector employment consisted of 47.0% in credit to the economy and 23.3% in government financing as of year-end 2023. Five systematically important banks contributed significantly, accounting for 67.8% of credit to the economy and 91.5% of government financing. Credit concentration remained in the commerce (33.6%) and agriculture (13.3%) sectors. Short-term loans distributed by banks represented 38.7% of total credit at year-end 2023, down from 42.4% in 2022.

This article was initially published in French by Chamberline Moko

Adapted in English by Ange Jason Quenum