Dr Habil Olaka, a towering figure at Kenya Bankers Association for almost two decades, retires as its Chief Executive Officer (CEO) on March 31, the association announced.
Olaka has been chief executive of the association since 2010.
The governing council, in a statement, announced the appointment of Raimond Molenje as the acting CEO until a substantive CEO is appointed.
“The Governing Council of Kenya Bankers Association (KBA) wishes to announce the retirement of Dr Habil Olaka as the CEO of the Association’s Secretariat effective 31st March 2024,” KBA chairperson John Gachora said.
“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 started his stint at KBA in 2018 and has 19 years of experience in legal and regulatory practice, human capital and policy advocacy having held senior management roles.
Gachora praised Olaka for his outstanding contributions during his stint at the organisation.
During his tenure, Olaka led the introduction of the Sustainable Finance Initiative (SFI) in 2015 to support member banks to come up with long-term value for the society, economy and the environment. The programme led to the issuance of the first Green Bond in Kenya and the East African region in 2019.
“During, his stint, a robust Automated Clearing House and cheque processing system was put in place, reducing the cheque clearing period from four days to 24 hours. The KBA Governing Council would like to thank Dr Olaka for his immense contributions as Chief Executive,” he added.
“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 noted.
“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.”
By Sacco Review Reporter
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