After a decade in public service and more than four decades in the world of finance, veteran banker and former Cabinet Secretary James Macharia is making a strong comeback.
He has been appointed the new chairman of Sidian Bank in a major board shake-up that signals a new growth direction for the lender.
Macharia takes over from James Mworia, the CEO of Centum Investment Company Plc, who has served as Sidian Bank chairman since 2014.
While Mworia is stepping down from the top role, he will remain on the bank’s board to ensure continuity as the institution moves into its next growth phase.
“It has been a great honour to serve as Chairman of Sidian Bank since 2014, a period during which we successfully transitioned from K-REP Bank to Sidian Bank and strengthened the institution’s foundation for sustainable growth,” Mworia said.
“I am proud of the progress the bank has made under the stewardship of a dedicated management team and staff, and of the continued trust of our customers and shareholders. I wish the new Chairman, Macharia and the Board every success as they lead Sidian into its next phase of growth and transformation.”
“I’m happy to be joining Sidian Bank at a very exciting growth phase of the business. I thank my predecessors for a job well done, as I look forward to an exciting and transformational journey ahead,” Macharia said.
Sidian Bank’s leadership changes come as the lender seeks to strengthen its position in Kenya’s competitive banking sector.
The Nairobi Securities Exchange-listed Centum Investment Company remains one of Sidian’s top shareholders, reflecting its continued confidence in the bank’s long-term potential.
Macharia’s appointment marks his return to the private sector after years in public service. He previously served as Transport and Health Cabinet Secretary under former President Uhuru Kenyatta. Before joining the government, he was the CEO of NIC Bank, which later merged with Commercial Bank of Africa to form NCBA Group.
He has also held senior roles at Standard Chartered Bank and the African Banking Corporation across East Africa.
Alongside Macharia’s appointment, the bank has added three new board members to strengthen governance and strategic oversight. The new directors include Paul Gachanja, Associate Professor of Economics and Registrar (Administration & Finance) at Kenyatta University, financial consultant Apollo Ong’ara, who has worked with KCB, Family Bank, Citibank and Barclays, and Madhav Bhandari, the Managing Partner at accounting firm Baker Tilly.
The appointments bring fresh expertise to the Sidian board as the bank looks to scale its growth and solidify its position among mid-tier lenders.
Macharia’s return to the financial sector has sparked interest beyond banking circles, given his long record in both government and corporate leadership.
His move is being seen as a blend of experience from both the public and private sectors, a signal that Sidian Bank could be gearing up for bold strategic shifts, possibly in SME lending, digital banking or regional expansion.
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