In a significant development for Kenya’s banking sector, the KCB Group Plc Board has elected FCS Dr. Joseph Kinyua, EGH, as the new Chairman of the Group Board, effective from May 26, 2023. This decision comes after Dr. Kinyua’s appointment to the Board of KCB Group in March 2023. He will be taking over the position of Group Chairman from Mr. Andrew Wambari Kairu, who is retiring after serving as Group Chairman for a five-year term in accordance with the Board Charter.
Dr. Joseph Kinyua brings with him an impressive career spanning over four decades in public service, boasting extensive experience in public administration, economic planning, and policy direction. His contributions have been instrumental in implementing key government initiatives and reforms, such as the liberalization of the banking sector, the foreign exchange market, and the trade and capital accounts of the balance of payments.
Before assuming the role of Head of Public Service in 2013, Dr. Kinyua held various senior positions within the government, including Permanent Secretary to the National Treasury. His appointment as the new Chairman of KCB Group marks a turning point in the bank’s corporate governance journey, as he brings deep financial services expertise and vast experience in public service management.
Expressing his gratitude for the appointment, Dr. Kinyua stated, “I am grateful for the confidence shown by the members in electing me to serve as Chairman and look forward to working together to propel KCB Group to even greater heights in the Eastern and Central African Region as the bank of choice in providing financial services to our people.”
Mr. Wambari, the outgoing Group Chairman, expressed his honor in serving the KCB Group and leaves behind a strong, diverse, and competent board that will continue to drive the business towards achieving and sustaining its strategic objectives. He emphasized the importance of a seamless transition and extended his gratitude to the shareholders, fellow board colleagues, employees, regulators, and partners for their collaborative efforts, which have contributed to the various successes achieved by the Group over the last five years.
Read: KCB Group Shareholders Approve Kshs. 6.4 Billion in Dividend Payout
