Diamond Trust Bank (DTB) Kenya has finalised the sale of its 83.67% stake in Diamond Trust Bank Burundi S.A. to a consortium largely made up of local Burundian investors, according to a public notice issued on 28 March 2026.
The deal was completed on 31 December 2025 after securing all required approvals from the Bank of the Republic of Burundi, effectively drawing the curtain on a regional expansion that began in 2009 when DTB became the first Kenyan bank to set up shop in Bujumbura.
The divestiture was triggered by a minority shareholder, widely understood to be Unik Investment S.A., linked to investor Shafiq Jiwani, which sought to strengthen its control of the subsidiary.
DTB originally launched the Burundi operation as a greenfield venture in 2009, taking a 67.34% stake valued at KSh 262.9 million, alongside the International Finance Corporation and Unik Investment. Over time, the bank doubled down on its position, notably acquiring the IFC’s stake in 2018 for KSh 152.2 million, lifting its shareholding to 83.67% and bringing its total investment to KSh 636.9 million by the end of 2024.
However, the numbers told a rather grim story by the final year. The Burundi unit contributed just KSh 50.6 million to group pre-tax profit in FY2024, a steep 56% drop from KSh 115 million the previous year. Its asset base also shrank markedly, falling from KSh 5.9 billion to KSh 4.6 billion.
The broader economic backdrop offered little relief. Burundi grappled with inflation nearing 39% in 2025, fuelled by persistent foreign currency shortages and acute fuel supply constraints. Such conditions tend to squeeze lending margins and destabilise deposits, particularly for smaller, foreign-owned banks lacking the heft to weather sustained macroeconomic pressure.
Group CEO Nasim Devji had earlier indicated that the incoming investors were committed to preserving the bank’s financial inclusion agenda under local ownership, while maintaining that DTB was handing over a stable and well-managed institution. The transaction value, however, remains undisclosed, leaving observers without a clear benchmark to judge whether the bank recouped fair value on its investment.
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From a strategic standpoint, the exit appears calculated rather than reactive. DTB now focuses on a leaner regional footprint across Kenya, Uganda, and Tanzania, where it holds majority stakes. The group reported a net profit of KSh 7.64 billion for FY2024, up from KSh 6.88 billion the previous year.
Offloading a subsidiary that was tying up capital and management bandwidth while delivering diminishing returns is, frankly, a sensible move. It frees up resources for markets where the bank has both scale and a clearer path to stronger profitability.
