Habil Olaka

Dr. Habil Olaka, a pillar of the Kenyan banking industry, is set to retire after a distinguished 14-year tenure as the Chief Executive Officer of the Kenya Bankers Association (KBA).  

His leadership and dedication have significantly shaped the Kenyan banking landscape over the past decade and a half.

Effective March 31st, 2024, Dr. Olaka will step down from his position. To ensure a smooth transition, the KBA has appointed Mr. Raimond Molenje, the current Director of Legal, Human Resources, and Public Advocacy, to serve as acting CEO.

Dr. Habil Olaka’s 14-year tenure as CEO of the Kenya Bankers Association (KBA) has been marked by significant contributions and achievements.  

He steered the KBA through a period of transformation, leaving a lasting impact on the Kenyan banking industry. Dr. Olaka championed progressive policies that fostered a stable and dynamic banking environment. 

This included initiatives promoting financial inclusion, access to credit for businesses, and regulations that encouraged responsible lending practices.

Under Dr. Olaka’s leadership, the KBA  played a key role in promoting sustainable finance practices within Kenyan banks. This involved initiatives like the issuance of Kenya’s first Green Bond and encouraging banks to invest in environmentally friendly projects.

The KBA played a part in supporting the adoption of new technologies within the banking sector during Dr. Olaka’s tenure. This involved promoting mobile banking solutions, cashless transactions, or cybersecurity measures.

The KBA, under Dr. Olaka’s guidance, actively engaged in public education initiatives. This involved promoting financial literacy or informing the public about new banking regulations.

The timing of Dr. Olaka’s retirement coincides with a period of relative stability within the Kenyan banking sector. 

This allows him to step down with a sense of accomplishment, having steered the KBA through potentially challenging periods notably the Covid-19 pandemic.

The KBA has designated Mr. Raimond Molenje, the Director of Legal, Human Resources, and Public Advocacy, to operate as interim CEO to facilitate a seamless transition. 

Molenje joined the Kenya Bankers Association in 2018 and has 19 years of expertise in human resources, policy advocacy, legal and regulatory practice, and holding senior management positions in prestigious corporate member organizations.

Raimond held the post of Director, Legal, Human Resources, and Policy Advocacy at the organization from 2021 until his appointment.

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Molenje oversaw compliance, human resources, and legal affairs when he held the position. Raimond Molenje is a notary public, commissioner for oaths, and a lawyer for the High Court of Kenya.

In addition, he belongs to the Institute of Human Resource Management (IHRM) and the Law Society of Kenya (LSK). 

Throughout his many years of experience, he has worked for prestigious companies and organizations, holding such as HR Manager-Employee Relations at Equity Bank Group, Legal Manager at Federation of Kenya Employers (FKE), and HR Advisor at De La Rue Currency and Security Print, among others.

The impact of a leadership transition at the Kenya Bankers Association (KBA) on the national economy is likely to be indirect but potentially significant. 

In essence, the KBA acts as a bridge between the banking industry and the government, influencing policies that shape the national economy.

Let us continue to engage with and support the KBA as it tackles emerging challenges and pursues its mission to promote a competitive banking environment by championing industry development through thought leadership, research, innovation, and advocacy.  

The KBA’s role in shaping a strong and vibrant Kenyan economy remains crucial. Together, we can ensure the Kenyan banking sector continues to be a driver of national prosperity. 

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