Habil Olaka, the Chief Executive Officer (CEO) of the Kenya Bankers Association (KBA), has resigned after more than 13 years in the position.
Olaka, who joined the umbrella body of banking institutions in 2010, will officially step down on March 31, 2024.
John Gachora, the KBA Governing Council Chairman and NCBA Managing Director, made the announcement and also revealed the appointment of Raimond Molenje, the association’s Director of Legal, Human Resources, and Policy Advocacy, as the acting CEO effective April 1, 2024. Molenje will serve in this capacity until a permanent CEO is appointed.
Gachora praised Olaka for his instrumental role in shaping the KBA’s strategic direction and leading various industry advocacy, development, and sustainability initiatives.
Under Olaka’s leadership, the association strengthened its position as a reputable and responsive industry leader, fostering collaborations with the government, sector regulator (CBK), and other public and private sector partners.
“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.”
