William Byaruhanga, Uganda’s former Attorney General, has acquired a significant 14.63% stake in Sidian Bank, a Nairobi-based financial institution. The acquisition, valued at KSh 1.03 billion (approximately UGX 28 billion), was made through his investment vehicle, Kenbe Investments.
This strategic move positions Byaruhanga as the fourth-largest shareholder in Sidian Bank. The deal involved buying out a portion of Centum Investment’s holding in Bakki Holdings Company, which previously owned 40% of Sidian. This divestment by Centum has been ongoing, with rights issues diluting their initial stake to 27.27%
Kenbe Investments is structured with Byaruhanga holding a 90% stake, with his wife holding the remaining 10%, granting her an indirect 1.4% share in Sidian Bank. This investment marks a notable expansion of Byaruhanga’s business interests into Kenya’s financial sector, coinciding with Sidian Bank’s strong performance, which saw its half-year net profit surge by 4.5 times to KSh 1 billion in June 2025
