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Former Ugandan Attorney General William Byaruhanga has bought a 14.63 percent stake in Sidian Bank after acquiring shares worth KSh1.03 billion (about Shs35.2 billion) from Centum Investments.
Centum Investment Company Plc, commonly known as Centum, is a public East African firm involved in real estate, fund management, and other ventures.
Sidian Bank, formerly K-Rep Bank, is a commercial bank in Kenya founded in 1984.
Byaruhanga, who was Attorney General from June 2016 to June 2021, is now the fourth-largest shareholder in the bank.
The acquisition follows Centum’s gradual reduction of its stake in Sidian, selling portions to investors such as Wizpro Enterprises, Afram Limited, Pioneer General Insurance, Pioneer Life Investments, and Telesec Africa.
The combined stake under Bakki Holdings Company dropped from 40 percent to 27.27 percent after recent rights issues that Byaruhanga and Centum did not join.
Sidian Bank reported a net profit of KSh1 billion for the six months ending June 2025, up 4.5 times from the previous year. Deposits rose to KSh59.8 billion, lending to KSh26.9 billion, with most deposits invested in government securities.
The Central Bank of Kenya, however, cited the lender for thin core capital adequacy ratios.
Byaruhanga, one of Uganda’s wealthiest lawyers, is the founding partner of Kasirye Byaruhanga & Co Advocates, which he started with former Uganda Law Society President Andrew Kasirye.
According to reports, his notable properties include Village Mall Bugolobi, Rwenzori Courts, Rwenzori Towers on Nakasero Road, Rwenzori House, Mountain of the Moon Hotel, and Amamu House.