Sidian Bank
IndustryFinancial services
HeadquartersNairobi, Kenya
Key people
James Mworia
Chege Thumbi[1]
Managing Director
ProductsLoans, Checking, Savings, Investments, Debit Cards
RevenueIncrease Aftertax:KES:89,415,000 (US$844,000) (2020)[2]
Total assetsKES:27.465 billion (US$259.3 million (2020)[2]
Number of employees
590+ (2016)[3]
ParentCentum Investment

Sidian Bank, formerly known as K-Rep Bank, is a commercial bank in Kenya, licensed by the Central Bank of Kenya, the national banking regulator.[4]


The headquarters of Sidian Bank are located at K-Rep Centre, on Wood Avenue, in Kilimani, a neighborhood in Nairobi, the capital and largest city in Kenya.[5] The coordinates of the bank's headquarters are: 01°17'26.0"S, 36°47'10.0"E (Latitude:-1.290556; Longitude:36.786112).[6]


The bank is a medium-sized financial services provider, serving the urban and rural poor and small-to-medium business enterprises in Kenya.[7]  As of March 2020, the total assets of the bank were valued at KES:27.465 billion (US$259.3 million, with shareholders equity of KES:4.002 billion (US$37.8 million.[2] The name Sidian is derived from Obsidian, an extrusive igneous rock.[8]


Sidian Bank was founded in 1984 as K-Rep Bank. In the beginning, the organization provided grants and technical assistance to non-governmental organizations (NGO). The NGOs then made loans to micro-enterprises. In 1989, K-Rep changed its strategy to lending to the NGOs. The technical assistance that had been provided for free now attracted a fee.

In 1999, K-Rep re-organized itself into four entities:[9]

  1. K-Rep Group – This is the parent company. It owns, either wholly or partially, the other three subsidiaries.
  2. K-Rep Development Agency – This agency carries out research and developmental assistance work for the group
  3. K-Rep Advisory Services – This company provides consultancy services for a fee.

In 2015, Centum Investment Company completed its acquisition of a majority stake in the bank.[10] On 4 April 2016, K-Rep Bank re-branded as Sidian Bank, to reflect the majority shareholding by Centum Investments Limited.[11]


As at 31 December 2019, the major shareholders in the bank stock included the following:[12][13]

Sidian BankStock Ownership
Rank Name of Owner Percentage Ownership
1 Bakii Holdco Limited1
2 K-Rep Group2
3 KWA Multi-Purpose Co-operative Society
4 Centum Investment Company Limited
5 Kimathi Mutua
6 Sarah Godana
7 Kabiru Kinyanjui
8 Mwenda Thiribi
9 Francis Kihiko
10 Aleke Dondo
11 Judith Behemuka
12 Anthony Wainaina
13 Francis Kimunyu

1 - Bakii Holdco Limited is a Non-Operating Holding Company and a wholly owned subsidiary of Centum Investments. This is in accordance with the CBK Banking Act and Prudential Guidelines.[14]
2 - K-Rep Group are the entities that founded K-Rep Bank in 1984.[14]

In March 2019, the Investment Fund for Developing Countries (IFU), a Danish, self-governing, state-owned investment fund, lent Sidian Bank KSh:1,200,000,000 (approx. US$11.2 million). During the next 36 months, IFU has the option to convert some or all of the principal into share capital in the bank. If all the principal is converted into capital, the Fund will acquire 20 percent shareholding in the bank and gain two seats on the expanded seven-person bank board. Each of the other shareholders will be diluted proportionately.[15]


The chairman of the seven-person board of directors is James Mworia, one of the non-executive directors. Chege Thumbi serves as the managing director.[1]

See also


  1. ^ a b Mutegi, Mugambi (15 August 2017). "Sidian CEO Titus Karanja resigns after 2-year stint". Business Daily Africa. Nairobi. Retrieved 15 August 2017.
  2. ^ a b c Sidian Bank (31 March 2020). "Financial Statements And Other Disclosures For The Period Ended 31-March 2020" (PDF). Nairobi: Sidian Bank Limited. Retrieved 10 July 2020.
  3. ^ Mugambi Mutegi (24 July 2016). "Sidian Head Hunts Chase Staff To Drive SME Unit". Business Daily Africa. Nairobi. Retrieved 10 July 2020.
  4. ^ Central Bank of Kenya (28 February 2020). "Central Bank of Kenya: Directory of Licenced Commercial Banks, Mortgage Finance Institutions and Authorised Non-Operating Holding Companies" (PDF). Nairobi: Central Bank of Kenya. Retrieved 10 July 2020.
  5. ^ Sidian Bank (10 July 2020). "Sidian Bank: Contact Us". Nairobi: Sidian Bank Limited. Retrieved 10 July 2020.
  6. ^ Google (10 July 2020). "Location of the Headquarters of Sidian Bank, Kilimani, Nairobi, Kenya" (Map). Google Maps. Google. Retrieved 10 July 2020.
  7. ^ Michira, Moses (21 October 2010). "Private Financiers See Potential In SMEs". Business Daily Africa. Nairobi. Retrieved 31 July 2014.
  8. ^ Ngugi, Brian (4 April 2016). "Sidian Bank's minority investors to provide Sh400m capital". Business Daily Africa. Nairobi. Retrieved 5 April 2016.
  9. ^ MCU (25 January 2012). "MicroCapital Universe: K-Rep Bank". MicroCapital.Org (MCU).
  10. ^ Mwaniki, Charles (20 May 2015). "Centum To Inject KSh1.2 Billion Bond Proceeds Into K-Rep Bank". Business Daily Africa. Nairobi. Retrieved 21 May 2015.
  11. ^ Mugambi Mutegi (27 March 2016). "K-Rep Bank plans name change as it seeks to shed microfinance image". Business Daily Africa. Nairobi. Retrieved 30 August 2018.
  12. ^ Sidian Bank Limited (20 March 2020). "Sidian Bank Limited Annual Report And Financial Statements For The Period Ending 31 December 2019" (PDF). Nairobi: Sidian Bank Limited. Retrieved 10 July 2020.
  13. ^ Patrick Alushula (9 July 2020). "Centum buys out Bethuel Kiplagat shares in Sidian". Business Daily Africa. Nairobi. Retrieved 10 July 2020.
  14. ^ a b David Herbling (14 August 2014). "K-Rep report reveals owners of KSh3.8 billion bank". Business Daily Africa. Nairobi. Retrieved 15 August 2017.
  15. ^ Patrick Alushula (8 March 2019). "Danish fund acquires Sh1.2 billion shares in Sidian Bank". Business Daily Africa. Nairobi. Retrieved 17 August 2020.

Coordinates: 01°17′26″S 36°47′10″E / 1.29056°S 36.78611°E / -1.29056; 36.78611