Africa-Press – Kenya. Habili olaka has retired as the CEO of Kenya Bankers Association effective March 31, 2024, the Governing Council has announced.
The announcement brings to an end his 14 years’ reign at the banking industry umbrella association.
In a statement, the KBA Governing Council Chairman and NCBA Bank Group Managing Director John Gachora 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 steer the Association during the transition period before the appointment of a substantive Chief Executive Officer.
“Under Olaka’s leadership, KBA has continued to reinforce a reputable and professional banking sector that best support Kenyans, who entrust their ambitions and hard-earned resources with its member banks,” Gachora said
Since his appointment, Olaka has been instrumental in the Association’s strategic direction, successfully spearheading various groundbreaking industry advocacy, development, and sustainability initiatives.
During his tenure, Olaka led the introduction of the Sustainable Finance Initiative (SFI) 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.
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.
He also played a vanguard role in the conceptualization of PesaLink, establishing the real-time payment services solution for the banking industry.
It was also during Olaka’s tenure that a robust Automated Clearing House and cheque processing system was established, reducing the cheque clearing time from four days to one day.
Celebrating Olaka’s contributions during his tenure, KBA Governing Council Chairman, John Gachora, expressed the KBA Governing Council’s gratitude for Olaka’s exceptional leadership, noting that the Association had enjoyed tremendous growth under his stewardship and achieved significant milestones for banks, the financial sector, and the economy.
On his part, Olaka said: “It has been an honor to lead and transform KBA into a formidable financial sector advocacy group over the last 13 years and wish to thank the KBA, Governing Council, member banks, and the Central Bank of Kenya leadership over the period, stakeholders and KBA staff for their support.”
Molenje joined KBA in 2018 and has 19 years’ experience in legal and regulatory practice, human capital and policy advocacy having held senior management roles in leading business member organizations for ten years.
For More News And Analysis About Kenya Follow Africa-Press
