Governance

Since 1896, KCB Bank group has grown to become the region’s largest banking institution with an asset base of KES 647 Billion (USD 6.28 Billion) a market capitalization of KES 151 Billion (USD 1.5 Billion) and broad regional distribution in 7 countries (over 263 branches, 15,082 agents and 962 ATMs).

Our commitment to sound corporate governance goes back to our very early days.

This commitment is reflected and explained in the KCB Integrated Report and also informs our day-to-day business behavior.

Our corporate governance report covers the following areas:

  1. Corporate Governance Statement
  2. Directors Shareholding
  3. Shareholder Profile

    Board of Directors

  • Adil A. Khawaja Adil A. Khawaja Chairman ×

    Chairman

    Adil Khawaja holds an LLB (Hons.) degree from the University of Sheffield England, a diploma in Law from the Kenya School of Law and is a Certified Public Secretary of Kenya (CPSK). He is a member of the London Court of International Arbitration (LCIA) and is currently the Managing Partner of law firm, Hamilton Harrison and Mathews, Advocates.

    SOCIETY/MEMBERSHIP: Adil serves as trustee of Kenya Wildlife Services (KWS).

    He also serves as Chairman of the KCB Bank Kenya Limited Board and is also the Chairman of KCB Insurance Agency Limited.

  • Tom Ipomai Tom Ipomai Director ×

    Director

    Tom Ipomai is a corporate finance specialist. He holds a degree in Computer Science from the University of Nairobi (1st Class Honours) and a Master of Philosophy (MPhil) in Management Studies from the University of Cambridge (Jesus College). He is a Certified Chartered Accountant (ACCA).  Previously, Tom worked for the Central Bank of Kenya, Barclays Bank in the UK, Kenya and Zambia and with Deloitte in its Corporate Finance Advisory division. Tom runs a boutique consulting firm.

    He also serves as a member of the KCB Bank Kenya Limited Board and is Chairman of KCB Bank Rwanda Board.

  • Cabinet Secretary Cabinet Secretary National Treasury ×

    National Treasury

    The Government of Kenya has maintained varied levels of ownership in the company since acquisition in 1970. This has been managed through the Office of the Cabinet Secretary Treasury (formerly, Permanent Secretary Treasury). Below is a chronology of the evolution in the ownership:

    1. The Government of Kenya acquired 100% shareholding in National and Grindlays Bank in 1970 and re-named it Kenya Commercial Bank (now KCB Group Plc)

    2. In 1998, the Government sold 20% of its shares at the NSE through an IPO that saw 120,000 new shareholders acquire the company

    3. The Government sold 10%, 10% and 25% in 1990,1996 and 1998 respectively, reducing its shareholding to 35%

    4. A series of rights issues in 2004, 2008 and 2010 were conducted by the company, with proceeds channeled towards growing the business and financing regional expansion. The Government opted not to take up its rights effectively diluting its ownership to 26.2%, 23.6% and 17.3% respectively

    5. The Board in 2016 introduced a scrip dividend where shareholders received dividends partly in cash and partly as additional shares. The Government took up this offer, marginally increasing its shareholding to the current level of 17.5%.

  • Simeon Rono Simeon Rono Director ×

    Director

    Simeon Rono has over 20 years’ experience in banking having previously worked in various capacities at the Central Bank of Kenya. He holds a Bachelor of Commerce Degree (Hons.), Marketing Option, from the University of Nairobi. He. He has attended several courses, both locally and internationally in banking, corporate management and regulatory oversight.

    Simeon has a wealth of knowledge and experience in financial management, Anti Money laundering (AML) controls, internal controls, risk management and regulatory oversight. He is also well versed with the formulation of management policies and is a keen promoter of social and economic development.

    Simeon is a founder and director of several companies engaged in the hospitality industry.

  • Njeri Onyango Njeri Onyango Director ×

    Director

    Mrs Njeri Onyango a graduate of the University of Nairobi, is an Advocate of the High Court of Kenya with 30 years’ experience in legal practise. She has engaged in broad practise of law such as civil and criminal litigation, arbitration, commercial law, property transactions, labour relations and sports law. She is a Certified Professional Mediator having received her certification from the Mediation Training Institute International (MTI). Mrs Onyango has also done remarkable consultancy services with a wide range of institutions. She has chaired legal, constitutional and disciplinary committees in various sports federations and has participated in constitution writing and reviews for federations such as Tennis Kenya and Kenya Volleyball Federation. She has served in various international disciplinary and legal tribunals such as The World Volleyball Federation (FIVB) and the World Swimming Federation. (FINA)
    She was appointed as a legal consultant for The Ministry of Youth Sports, Culture and The Arts to offer consultancy services to the Ministry on the Kenya Anti Doping Bill and Policy, which become the Kenya Anti Doping Act, 2016. She has also acted as a legal consultant for the Kenya Anti-Doping Agency (KADA); she chaired the Legal Committee of KADA in the preparation of the Rules for Anti-Doping in Sports in Kenya that were consequently approved and adopted by the world Anti-Doping Agency. She has provided legal consultancy services to a number of NGOs. Mrs Onyango is currently a Board member of the Independent Policing Oversight Authority (IPOA) and a member of the Kenya Sports Disputes Tribunal.
    Mrs Onyango is a member a number of professional bodies such as the Law Society of Kenya, the Chartered Institute of Arbitrators both, International Bar Association, International Federation of Women Lawyers (FIDA).

  • Caroline Rabar-Okong’o Caroline Rabar-Okong’o Director ×

    Director

    Caroline Okong’o has over 20 years’ experience in finance, risk and compliance, internal controls, audit, strategy development and implementation support. She is a results oriented leader with a history of achieving excellence and impact through teams.
    Having worked both locally and internationally, Caroline has had multi-jurisdiction exposure dealing with various regulatory reporting requirements in the financial services sector. She has had a progressive career rising to leadership roles in various organizations including as Assistant Vice President at Willis Management (Bermuda), Director at Lattice Consulting Limited and Senior Manager at Deloitte where she worked in both East Africa and Bermuda.
    Caroline holds a Bachelor of Arts degree in Building Economics from the University of Nairobi, is a CPA (K), a member of ICPAK, and a Certified Professional Coach accredited by the International Coaching Federation. She is the founder and Managing Director of Policy Analytics Limited, an advisory consulting firm.
    Caroline is an Independent Non Executive Board Member and Chair of the Audit and Risk Committee at Prudential Life Assurance Kenya Limited and Board Member and Secretary to the Association of Women Accountants of Kenya.

  • Joseph Muigai Joseph Muigai Director ×

    Director

    Joseph is a certified public accountant with vast experience spanning over 30 years in audit, tax and financial advisory services. Joseph is the founding partner of Muigai & Associates; a leading accountancy firm in Kenya that has served local and international organisations cutting across multiple industries and sectors. Previously held roles include Treasurer at Karen Country Club, Technical Partner at Kangethe & Associates, and Senior Audit Manager at Deloitte. Joseph holds a Bachelor's Degree in Business Administration from the United States International University (USIU) and is a Member of the Institute of Certified Public Accountants of Kenya (ICPAK).

    Joseph serves as the Chairman of KCB Bank Burundi and the Audit Committee Chair of KCB Bank Kenya.

  • Joshua Oigara Joshua Oigara Group CEO and MD ×

    Group CEO and MD

    Joshua Oigara holds a Masters degree in Business Administration with a distinction in International Business Management from Edith Cowan University, Australia, a Bachelor of Commerce Degree, Accounting Option, from the University of Nairobi and is an Advanced Management Program Graduate from INSEAD, Fontainebleau, France. He is a graduate of the Program for Management Development (JuMP), Fuqua School of Business, Duke University, North Carolina, USA as well as a Certified Public Accountant of Kenya, CPA (K), having studied at the School of Accountancy, Strathmore University, Kenya.

    OTHER BOARD/SOCIETY/MEMBERSHIP:

    Joshua serves in the board of KCB Bank Kenya Limited and is a trustee of the KCB Foundation and also as the Chairman of the Energy Regulatory Commission as well as the Chairman of the Kenya Bankers Association Governing Council. He is a member of the Vision 2030 Board and also serves as a board member of YALI (Young Africa Leaders Initiative).

  • Samuel Makome Samuel Makome Group COO ×

    Group COO

    He has over 20 years experience in Banking Institutions and 10 years in executive management in strategic leadership and business development. Prior to joining KCB, he was the Managing Director, Equity Bank Tanzania. Other previously held roles include: General Manager, Equity Bank Limited; Executive Director, Bank of Africa (BOA), Uganda and Regional Head, Consumer Banking Operations for Africa, Standard Chartered Bank. He holds a Masters in Organizational Leadership from the International Leadership University, Nairobi, Kenya a BSc in Engineering from the University of Nairobi and is an Associate of the Chartered Institute of Bankers, London, UK (ACIB).

  • Bonnie Okumu Bonnie Okumu Director Legal Services and Company Secretary ×

    Director Legal Services and Company Secretary

    Bonnie is the Director, Legal Services and Company Secretary, KCB Bank Kenya. She was appointed to the role in July 2018. Before the appointment, she was serving as the Head, Legal Services since January 2014. She has served as Company Secretary for KCB Bank Kenya since January 2016.

    Before joining KCB, she was the Chief Legal and Regulatory Affairs Officer and Company Secretary at Telkom Kenya Limited. Prior to this she was the General Counsel and Company Secretary at Unilever Kenya Limited where she oversaw the legal and company secretarial functions for 9 operating companies in 7 countries in East and Southern Africa. Until she joined Unilever, she was the Regional Legal Manager for Nestle where she set up the legal department and led a team of lawyers in providing legal and tax advisory services to 14 operating entities in 20 countries in the Equatorial African Region.

    Earlier in her career, she was an associate at Hamilton & Mathews where she represented clients including banks, insurance companies and consumer goods companies. She holds an LL.B from the University of Nairobi, is an advocate of the High Court of Kenya as well as a Certified Public Secretary (CPS-K).

    Management

  • Joshua Oigara Joshua Oigara Group Chief Executive Officer and Managing Director ×

    Group Chief Executive Officer and Managing Director

    Joshua Oigara holds a Masters degree in Business Administration with a distinction in International Business Management from Edith Cowan University, Australia, a Bachelor of Commerce Degree, Accounting Option, from the University of Nairobi and is an Advanced Management Program Graduate from INSEAD, Fontainebleau, France. He is a graduate of the Program for Management Development (JuMP), Fuqua School of Business, Duke University, North Carolina, USA as well as a Certified Public Accountant of Kenya, CPA (K), having studied at the School of Accountancy, Strathmore University, Kenya.

    OTHER BOARD/SOCIETY/MEMBERSHIP:

    Joshua serves in the board of KCB Bank Kenya Limited and is a trustee of the KCB Foundation and also as the Chairman of the Energy Regulatory Commission as well as the Chairman of the Kenya Bankers Association Governing Council. He is a member of the Vision 2030 Board and also serves as a board member of YALI (Young Africa Leaders Initiative).

  • Lawrence K. Kiambi Lawrence K. Kiambi Group Chief Financial Officer ×

    Group Chief Financial Officer

    Lawrence joined KCB Group in May 2015 as the Chief Finance Officer. He has over 20 years senior leadership experience having worked in a number of multinational organization which include BAT, AIG and East Africa Breweries both in Kenya and UK.

    Lawrence holds a Bachelor of Science degree from the United States International University – Africa (USIU) majoring in accounting.  He is a qualified Certified Public Accountant of Kenya (CPAK), a member of Institute of Certified Public Accountants of Kenya (ICPAK) and Institute of Directors. Lawrence is currently writing his MBA thesis at Warwick Business School (UK). Lawrence also serves as a trustee of the KCB Staff Pension Fund (Defined Benefit Scheme). He is a member of the KCB Bank South Sudan Limited Board and also serves as a trustee of the KCB Staff Pension Fund (Defined Benefit Scheme).

    OTHER DIRECTORSHIPS: Lawrence is a non-executive director in Pozin Investments Limited and Westacres Limited

  • Samuel Makome Samuel Makome Group Chief Operating Officer ×

    Group Chief Operating Officer

    Samuel joined KCB Bank in 2013 and has over 20 years progressive experience in in banking, 13 of which have been at Executive Management level specializing in Strategic Leadership, Operations and Business Development. He previously worked in Citibank, Standard Chartered Bank and Equity Bank, at both regional and international levels in various parts of Africa, Asia, and the United Kingdom, which enabled him gain extensive experience and vast knowledge of the International, Regional and local banking environment.  He holds a Masters Degree in Organizational Leadership from the International Leadership University, Nairobi, a Bachelor of Science (BSc) degree in Engineering from the University of Nairobi, and is an Associate of the Chartered Institute of Bankers (ACIB) London.

  • Paul Rushdie Russo Paul Rushdie Russo NBK Managing Director ×

    NBK Managing Director

    Mr. Russo was appointed the Bank’s Managing Director in October 2019. He serves as the Group Regional Business Director, KCB Group Plc. He has over 18 years of work experience spanning executive and key roles including group HR Director (KCB Group Plc), Receiver Manager (Chase Bank), Head of HR (Barclays Standard Services – Barclays Africa), Regional HR Head and HR Change lead (Barclays Africa), Head of HR (Barclays Tanzania), Head of Human Capital (PwC), Chief HR officer (K-Rep Bank), HR Manager (Unga Holdings) and Acting Compensation and Benefits Manager (Kenya Breweries). Paul holds an MBA from Strathmore University Business School and a Bachelor of Business Management from Moi University. He also holds a senior executive program for Africa Certificate from Harvard Business School and a Higher Diploma in Human Resource Management from the Institute of Human Resources (Kenya).  Paul also serves as a director in the Boards of KCB Bank Uganda Limited and KCB Capital Limited.

  • Japheth Achola Japheth Achola Group Human Resource Director ×

    Group Human Resource Director

    Japheth was appointed the Group Human Resource Director, KCB Group PLC on July 8, 2019. He has over 19 years’ of work experience spanning executive and key roles including Africa Regional HR Director (Allianz Africa), Group HR Business Manager – Operations and Technology and Head of HR eProcess International (Ecobank Transnational Incorporated, Accra-Ghana), Head of HR Operations & Employee Shared Services (Safaricom Ltd), West & Central Africa Human Resource Head (Citibank N.A Ltd, Dakar, Senegal), Senior Division Human Resource Generalist- Sub Sahara Africa Division (Citibank N.A Ltd, Johannesburg, South Africa), Acting Country Human Resource Officer (CHRO) - Citibank Tanzania (Citibank N.A Ltd, Dar-es-Salaam, Tanzania) and Compensation and Benefits Manager – Kenya, Tanzania and Uganda (Citibank N.A Ltd, Nairobi, Kenya).                                                                    

    Japheth holds a Master’s degree of Science (Human Resource Management & Training) from University of Leicester – London, UK; Post Graduate Certificate (Human Resource Management) from university of Wales – London, UK and Bachelor of Education (B.Ed. Science) from Kenyatta university – Nairobi, Kenya.

  • Joachim Steuerwald Joachim Steuerwald Group Chief Technology Officer ×

    Group Chief Technology Officer

    Joachim was appointed the Chief Technology Officer, KCB Group PLC effective on September 9th, 2019.

    He has over 34 years of work experience spanning several global executive technology management roles in banking and financial services, technology, automotive and aeronautics sectors. These include Head of Infrastructure (Airbus Industries, Germany), Team Leader, Software Development (BMW Bank), Group Head of Derivatives IT (Deutsche Bank Group), Chief Architect and Chief Technology Officer, Global Equities Business Services (Deutsche Bank Group), Global Head of Production management (Deutsche Bank Group Corporate and Investment Bank, London, UK), Director of Enterprise Architecture (oracle Corporation, London, UK and Nairobi, Kenya) and Technology Sales Director for Kenya and East Africa (Oracle Corporation).

    Joachim holds Bachelor of Computer Science and Mathematics from the Technical University of Munich.

  • John Mukulu John Mukulu Group Chief Risk Officer ×

    Group Chief Risk Officer

    John joined KCB  in 1990 as a management trainee and has served in various roles including Head of Portfolio Management and Senior Credit Analyst.  Prior to his current appointment in August 18th 2017 as the KCB Group Chief Risk Officer,  John was  the Acting Chief Risk Officer and previously the Head of Lending Risk Acting Director- Risk.  He is a graduate of Economics  from SGGS College , New Delhi and BA in Banking and Finance,  University of Sunderland . In his current position, John  is responsible for coordinating the Bank’s Enterprise Risk Management framework  and ensuring full compliance  with applicable regulation.

  • Jane Mwangi Jane Mwangi KCB Foundation MD ×

    KCB Foundation MD

    Ms. Jane Mwangi was appointed as the Director KCB Foundation in July 2015. She is an employee of the KCB Group Limited and serves in the board of KCB Foundation as a trustee.  Jane Mwangi is passionate about designing development solutions that work. She has experience spanning over 30 years in the International development giving her a unique edge to identify and steer ideas from concept to reality.  She previously worked with the USAID Mission in different capacities serving the East and Southern African region. She designed programs that built alliances between the US Government and Private Sector for the purpose of accelerating and sustaining development.

    Jane is a multiple graduate of the United States International University-Africa; She holds an MBA in Finance with a minor in Strategic Management and a BSC (Cum laude) in Accounting.

  • Apollo Ong'ara Apollo Ong'ara Director Credit ×

    Director Credit

    He joined KCB Group in 2012 as the Head of Credit in Tanzania and is currently serving as the Director Credit for KCB Group based in Kenya.  He is a graduate of Economics and Business Studies from Kenyatta University Nairobi, and Associate Chartered Institute of Bankers [ACIB] London. He started his career as management trainee Barclays Bank Kenya, and has played Relationship Management, Credit and Risk Management roles in ABN AMRO Bank N.V. Kenya, Citigroup N.A. Kenya, Commercial Bank of Africa Kenya, Barclays Bank Ghana and Family Bank Kenya.

  • Judith Sidi Odhiambo Judith Sidi Odhiambo Group Head Of Corporate And Regulatory Affairs ×

    Group Head Of Corporate And Regulatory Affairs

    She joined the Bank in 2006 as the Corporate Communications Manager and is the current Group Head of Corporate and Regulatory Affairs. She leads the reputation management and strategic communication of the Bank having served in similar roles in the water and transport sectors. She has over 20 years’ experience in public relations, strategic communication, media relations, stakeholder engagements, sustainability and events management.  She holds a Masters in International Relations from United States International University (USIU), Bachelor of Arts in Communications from Daystar University and a Diploma in Journalism from the Kenya Institute of Mass Communication. She is a Board member of KCB Insurance Agency and represents the Bank in industry-related forums among them Kenya Bankers Association.  

  • Joseph Kania Joseph Kania Group Company Secretary ×

    Group Company Secretary

    Joseph has over 25 years’ experience as an Advocate of the High Court and 10 years’ experience as a Company Secretary. He holds an LLB degree from the University of Nairobi and is an Advocate of the High Court of Kenya. He is a Notary Public, Commissioner of Oaths as well as a Certified Public Secretary of Kenya. He previously served as Company Secretary at Housing Finance Limited. Other roles held include Senior Legal Officer at the Industrial and Commercial Development Corporation and the Legal Officer at Senator Cards/Southern Credit Corporation.

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