KCB Group Chief Executive Officer, Paul Russo, EBS, has been elected as the new Chairperson of the Kenya Bankers Association (KBA). His election was confirmed during the KBA Annual General Meeting held earlier today.
Mr. Paul Russo takes over from John Gachora, the Managing Director of NCBA Group, who has served as KBA Chairperson since June 2021. Gachora’s tenure is credited with steering the banking sector through the post-pandemic economic recovery and championing key policy and regulatory reforms.
Alongside Mr. Paul Russo, Betty Korir, the CEO of Credit Bank, was re-elected to continue serving as Vice Chairperson of the Association.
Leading the Next Phase of Banking Transformation
Paul Russo’s appointment comes at a time when the banking sector is intensifying efforts to support inclusive economic growth by enhancing credit accessibility, fostering innovation, and promoting financial inclusion across the country.
“It’s an honour to serve the industry in this capacity. I thank my counterparts for their confidence and reaffirm my commitment to working with all stakeholders to strengthen our industry’s contribution to national development,” Mr. Russo said after his election.
He emphasized the importance of accessible financial services and industry transformation, adding, “We must deepen the ongoing transformation to better serve our customers and effectively catalyze the country’s economic ambitions.”
A Seasoned Leader with a Proven Track Record
With nearly 25 years of corporate experience, Mr. Russo brings a wealth of expertise to the role. Previously, he served in various senior positions including KCB Group HR Director, Director of Regional Business, and Managing Director of the National Bank of Kenya. His career also includes key roles at Barclays (Absa), PwC, K-Rep Bank (now Sidian), EABL, and Unga Holdings.
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In recognition of his contributions to the financial services sector, Paul Russo was awarded the Elder of the Order of the Burning Spear (EBS) by the President of Kenya. He also represents Kenya on the United Nations Environment Programme Finance Initiative (UNEP-FI) Leadership Council, where he works with other global leaders to integrate sustainability into banking practices.
Building on a Strong Legacy
Outgoing Chairperson John Gachora leaves a legacy of bold, responsive leadership. Under his stewardship, the industry restructured over Sh1.7 trillion in loans to cushion businesses and individuals from the economic effects of COVID-19. He was instrumental in reviving the interbank forex market, promoting MSME lending through a Sh150 billion annual commitment, and advocating for inclusive banking services, especially for persons with disabilities.
KBA CEO Raimond Molenje congratulated Mr. Russo, stating, “We look forward to working together to deliver greater value for the industry and empower the banking public.”
A Bold Vision for the Future
Under Paul Russo’s leadership, the Kenya Bankers Association is expected to focus on four strategic pillars:
- Accelerating digital and financial inclusion
- Promoting sustainable and responsible banking through ESG frameworks
- Advancing policy advocacy for a stable and inclusive financial ecosystem
- Championing talent development and ethical leadership in the banking sector
“We are committed to building a banking industry that drives shared prosperity and strengthens Kenya’s economic resilience,” said Mr. Russo.
As Kenya’s banking sector continues to evolve, the new leadership at KBA is poised to shape a future of bold, purpose-driven, and people-centered financial services.
