Bankers Re-elect Joshua Oigara and John Gachora as KBA Governing Council Leadership for 2020/2021 Period
Nairobi 26th June 2020 - The Kenya Bankers Association (KBA) member banks during the Association's 58th Annual General Meeting re-elected KCB Group CEO Mr. Joshua Oigara as the Association's Governing Council Chairperson for the period 2020/2021. NCBA Group Managing Director Mr. John Gachora was also re-elected as the Council's Vice Chairperson.
Mr. Oigara and Mr. Gachora have steered the banking industry through various policy engagements in close coordination with the industry regulators. Under their tenure, KBA also formulated the 2019 -2023 Strategic Plan that seeks to deepen financial inclusion by facilitating affordable banking services through tech-driven innovations and enhanced operational efficiency. The KBA Strategy also provides a blueprint towards meeting regulatory requirements outlined by the Central Bank of Kenya (CBK) Banking Sector Charter, particularly on the adoption of customer-centric business models, with a focus on supporting MSMEs; risk-based credit pricing; transparency, as well as, information disclosure; and entrenchment of ethical culture in banking.
In his acceptance remarks, Mr. Oigara noted that the industry has continued to face challenges in the year 2020, observing that the Coronavirus (COVID-19) pandemic is one of the greatest challenges faced by the industry in recent history. "So much of our world has changed in a very short time, but what remains constant is that which makes us Kenyans: we smile in the face of adversity, and we do not hesitate to help when called upon," said Oigara. "Banks and bankers have been stepping up to support the national effort during this global health crisis," he added, commending the industry's efforts to help customers mitigate the financial impact on households and businesses.
Since April 2020, Banks have restructured in excess of Ksh560 billion worth of loan facilities and have waived fees and charges on mobile payments. The Chairman also lauded banks for quickly stepping in to raise approximately Ksh 1.7 billion for the COVID-19 Fund, which was set up by the national government; and for collaborating to educate the banking public on ways of coping with the pandemic through the Komesha Corona campaign and the KBA Go Digital Banking campaign.
In his remarks, KBA Chief Executive Officer, Dr. Habil Olaka, expressed gratitude to the KBA member banks and the Governing Council for their leadership and support which, he noted, has greatly aided the Association to successfully roll out novel programmes to enable the industry to better support the economy.
"With banks being a critical cog in the economy's wheel, their collective endeavor is to make sure that under the current challenging circumstances there is minimized disruption. Even at this early stage, it is evident that the banking industry has demonstrated leadership in the arena of response and responsibility," he said, adding that the top priority has been the establishment of strong partnerships with various government and non-governmental agencies towards controlling the impact of the COVID pandemic.
During the AGM, KBA reconstituted its Governing Council. The KBA Governing Council is nominated to represent three categories: large, medium-sized, and small banks, as defined by the KBA articles of association. The incoming Council members are as follows:
About the Kenya Bankers Association:
KBA (www.kba.co.ke) was founded on 16th July 1962. Today, KBA is the financial sector's leading advocacy group and banking industry umbrella body that represents total assets in excess of USD 40 billion. KBA has evolved and broadened its function to include advocacy on behalf of the banking industry, and championing financial sector development through strategic projects such as the launch of the industry's first P2P digital payments platform PesaLink. In line with the Government's policy on public-private partnerships, KBA and Central Bank of Kenya have implemented key projects such as modernization of the National Payments System through the Automated Clearing House, implementing the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative. The KBA members are comprised of commercial banks and deposit taking microfinance banks.
For more information, visit www.kba.co.ke or contact KBA Director of Communications and Public Affairs, Nuru Mugambi Email: email@example.com