NAIROBI, Kenya, Mar 11 – The Chief Executive Officer (CEO) of the Kenya Bankers Association (KBA), Habil Olaka, has resigned after serving in the position for over 13 years now.
Olaka joined the umbrella body of banking institutions in 2010 and will be leaving the post on March 31, 2024.
KBA Governing Council Chairman, who also dabbles up as NCBA Managing Director, John Gachora, also announced the appointment of the association’s Director, Legal, Human Resources, and Policy Advocacy, Raimond Molenje, in an acting capacity effective April 1, 2024.
Molenje will be responsible until a substantive CEO is selected.
Gachora said that Olaka has been instrumental in the KBA’s strategic direction, successfully spearheading various groundbreaking industry advocacy, development, and sustainability initiatives.
“Dr. Olaka accomplished significant industry milestones, including reinforcing the Association’s role as a reputable and responsive industry leader by championing forward-looking sustainable development and inclusive socio-economic growth by fostering collaborations with the Government, the sector regulator (CBK) and other partners in the public and private sectors across the economy,” Gachora said.
The Chair also said that it was Olaka’s period when the first Sustainable Finance Initiative (SFI) was introduced in 2015 to support member banks to create long-term value for the economy, society, and the environment.
“The initiative culminated in the issuance of the first Green Bond in Kenya and by extension, the East African region in 2019. 2 Dr. Olaka contributed to industry-led mitigations by member banks during the COVID-19 pandemic, collectively preventing the health crisis from degenerating into a financial crisis.”
