Raimond Molenje appointed KBA acting CEO as Habil Olaka exits
The Kenya Bankers Association (KBA) has announced the retirement of its CEO Dr Habil Olaka effective March 31, 2024.
In a statement, the governing council announced the appointment of Raimond Molenje as the acting CEO until a substantive CEO is appointed.
Olaka has served as the Association's chief executive since his appointment in 2010.
"The Governing Council of Kenya Bankers Association (KBA) wishes to announce the retirement of Dr Habil Olaka as the Chief Executive Officer of the Association's Secretariat effective 31st March 2024," KBA chairperson John Gachora stated.
"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."
Molenje joined KBA in 2018 and has 19 years of experience in legal and regulatory practice, human capital and policy advocacy having held senior management roles in leading business member organizations for 10 years.
Gachora praises Olaka
Gachora says the executive has been instrumental in the Association's strategic direction, 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," Gachora added.
During his tenure, 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.
"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. He played a vanguard role in the conceptualization of Pesatink, establishing the real-time payment services solution for the banking industry," Gachora added.
"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. 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 achieve significant milestones for banks, the financial sector, and the economy. We would like to commend Dr Olaka for his dedicated service to members and the banking public during his tenure and wish him the very best."
