End of an era as Habil Olaka exits KBA

Kenya Bankers Association CEO Habil Olaka on March 5, 2024. PHOTO | LUCY WANJIRU | NMG   

By PETER MBURU More by this Author

The Kenya Bankers Association (KBA) has appointed Raimond Molenje as

acting Chief Executive Officer (CEO) starting in April, as current holder of the position, Habil Olaka, is scheduled to retire end of this month.

In a statement by KBA Chairman John Gachora, the association representing banks in the country said Dr Olaka’s tenure lapses on March 31 when he retires, ending his 14-year tenure as CEO since he was appointed in 2010.

“To steer the Association in the transition period, the Governing Council has appointed Director, Legal, Human Resources and Policy Advocacy, Mr Raimond Molenje, in an acting capacity effective 1st April 2024 before the appointment of a substantive Chief Executive Officer,” Mr Gachora stated.

Mr Molenje has been with KBA since 2018 and has 19 years of experience in legal and regulatory practice, human capital and policy advocacy. He has held senior management roles in leading business member organizations for ten years.

KBA noted that during his 14 years as KBA CEO, Dr Olaka has spearheaded various groundbreaking industry advocacy, development, and sustainability initiatives on behalf of the banking 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,” it stated.

Dr Olaka was also credited with 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, an initiative that culminated in the issuance of the first Green Bond in Kenya and by extension, the East African region in 2019.

And during the Covid-19 pandemic, he was credited with conceptualizing PesaLink, which established real-time payment services solutions for the banking industry.

“It was also during Dr 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,” Mr Gachora said.

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