The Kenya Bankers Association (KBA), the umbrella body representing commercial banks in Kenya, has elected Paul Russo, CEO of KCB Bank Group, as its new chairperson. His confirmation at KBA’s Annual General Meeting in Nairobi marks a significant leadership transition in the country’s banking sector.
Russo succeeds John Gachora, Managing Director of NCBA Group, who has led the sector since 2021 and is widely credited for steering it through key economic recovery phases.
Paul Russo’s portfolio
Paul Russo brings more than two decades of banking and corporate leadership experience, along with a proven track record of transformation and stakeholder engagement. His prior positions as Group HR Director and Regional Business Director at the National Bank of Kenya, Barclays (now Absa Group), PwC, and KCB Bank Group show a thorough understanding of both operational effectiveness and human capital strategy.
Russo is expected to support national development goals as Chair by promoting inclusive growth, fintech integration, and improved credit availability.
Russo’s commitment to the industry’s transformation
Russo underlined in his remarks his dedication to furthering the industry’s transformation, improving customer service, and advancing accessible, reasonably priced financial services throughout Kenya.
He reiterated the industry’s critical role in promoting economic expansion, especially in furthering Kenya’s goals for credit accessibility and financial inclusion. Under his direction, KBA’s member cooperation and advocacy initiatives could gain new impetus.
“We are committed to building a banking industry that drives shared prosperity and strengthens Kenya’s economic resilience.“ he said.
Expectations from Paul Russo
Under the direction of its newly appointed chairman, KBA will give priority to promoting innovation and universal accesresilience,rate digital and financial inclusion; supporting policy advocacy that creates a stable, forward-thinking, and inclusive financial ecosystem; advancing Environmental, Social, and Governance (ESG) frameworks that encourage responsible banking; and supporting the development of talent and moral leadership in the banking industry.
John Gachora’s legacy
A revitalised interbank forex market, KSh150 billion in annual lending commitments to MSMEs, and post-COVID loan restructurings totalling KSh1.7 trillion were all highlights of outgoing Chairperson John Gachora’s outstanding term.
Initiatives for inclusivity, such as the Persons with Disabilities Accessibility Project, are another aspect of his legacy. Betty Korir, the CEO of Credit Bank Kenya Limited, continues to advocate for diversity and significant banking reforms while holding her position as KBA Vice Chairperson.
KCB Group stated, “This appointment marks a significant milestone for the Group, as we take on a leadership role in shaping the future of banking in Kenya and the wider region.”