Kenya Bankers Association (KBA) Chief Executive Officer (CEO) Habil Olaka is set to retire from the umbrella body effective 31st March, 2024.
To ensure a smooth transition, KBA has announced the appointment of its Legal, Human Resources and Policy Advocacy director Raimond Molenje as an interim CEO from 1st April 2024 before a suitable candidate is found for the position.
Olaka has served as KBA’s chief executive since his appointment in 2010 and has been credited for being instrumental in steering the association in the right direction in addition to successfully spearheading various groundbreaking industry advocacy, development, and sustainability initiatives on behalf of the industry.
“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 mutual collaborations with the Government, the sector regulator (CBK) and partners in the public and private sectors across the economy,” stated KBA Chairman John Gachora.
“During his tenure, Dr. 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,” added Gachora.
During the COVID-19 pandemic, Olaka helped member banks lead industry-led mitigations that prevented the health catastrophe from turning into a financial crisis.
He was at the forefront of the PesaLink idea development team, helping to create the banking sector’s real-time payment services solution.
A strong Automated Clearing House and check processing system were also built under Olaka’s leadership, cutting the four-day cheque-clearing process to one day.
“The KBA Governing Council would like to thank Dr. Olaka for his enduring contributions as Chief Executive Officer, which saw the Association enjoy tremendous growth under his stewardship and achieved significant milestones for banks, the financial sector, and the economy,” added KBA Chairman.
“We would like to commend Dr. Olaka for dedicated service to members and the banking public during his tenure and wish him the very best.”
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 10 years.
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