The anchor shareholder of DTB-Burundi is DTB-Kenya with a 51% shareholding. The other shareholders are the Abu Dhabi-based investment entity, Al Bateen Investment Company LLC (16.33%), and Unik Investment S.A. (16.33%) led by a Burundian based investor called Shafiq Jiwani.

DTB-Kenya is incorporated as a public company and has been listed on the Nairobi Stock Exchange since 1972. DTB-Kenya, which currently operates as a commercial bank, can trace its roots to the mid 1940s and boasts of a heritage that spans over 60 years. DTB-Kenya provides a wide range of retail and commercial banking services. Aga Khan Fund for Economic Development (“AKFED”) and its affiliates are the principal shareholders in DTB-Kenya with 38.85% shareholding as at 31 October 2008. IFC is also a 9.85% shareholder.

IFC’s equity investment is proposed to be local currency equivalent of about $0.82 million. The total initial capital of DTB Burundi is about $5 million.

0.81 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	0.81

* These investment figures are indicative

The project is located in Bujumbura, Burundi and will start with one branch located at 14 Chausee Prince Louis, Rwagasore, Bujumbura, Burundi.

DTB Kenya is headquartered in Nairobi, Kenya. It has a network of 13 branches in Kenya. Its subsidiary in Tanzania has 6 branches and its affiliate in Uganda has 5 branches.

The project is expected to have a high development impact in the following measurable areas:

- increasing credit availability to MSMEs;
- enhancing competition in the banking sector in Burundi; and
- expanding credit availability across all segments of the market.

Another benefit of the Project will be the enhancement of the capabilities of DTB-Kenya through DTB-Burundi to lend to women owned businesses, through the provision of advisory services and develop its institutional capacity in this field.

The project supports the expansion and strengthening of DTB’s presence in Eastern Africa.

By enhancing the Banking Sector in Burundi: Burundi has a small banking sector offering minimal banking products with strong government participation. DTB-Burundi will be among the few fully private owned banks in Burundi backed by experienced sponsors with ability to introduce new innovative products to expand banking penetration in the economy.

By creation of Jobs: DTB-Burundi aims to recruit 19 employees in the first year of operations and go up to 60 in 2013. Majority of the employees will be of Burundi nationality.

By promoting flow of capital: DTB-Burundi will be a driver for the flow of funds into Burundi having proposed to mobilize capital from Kenya, Abu Dhabi and IFC. There is a significant demand for capital investments in Burundi to achieve sustained high economic growth rates. This also promotes IFC’s strategy of south-south investments.

This project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. During appraisal, IFC will analyze the expected FI portfolio to determine the Applicable Performance Requirements, which will include the IFC Exclusion List, the applicable National Social and Environmental Laws and Regulations and/or the IFC Performance Standards.

As a subsidiary of DTB-Kenya, DTB-Burundi will adopt DTB-Kenya’s Social & Environmental Management System (SEMS) that is currently under preparation and to be finalized by mid-December of 2008. IFC will review the SEMS and DTB-Burundi''s capacity to implement the same. If required, IFC will suggest Supplemental Actions to address any gaps in the SEMS. Based on the review, DTB-Burundi will be required to:

- Implement a Social & Environmental Management System, satisfactory to IFC, prior to investment in DTB-Burundi or to a time-bound action plan related to the SEMS
- Identify responsible, qualified persons to manage and implement the SEMS
- Commit to implement the SEMS, to ensure that its investments/activities are in compliance with the Applicable Performance Requirements
- Demonstrate commitment to applying the labor standards established by the IFC Performance Standard 2: Labor and Working Conditions
- Submit a periodic report to IFC as per a format to be provided by IFC''