Early retirement for Jamii Bora Bank CEO

Jamii Bora Bank chief executive officer Samuel Kimani has taken early retirement after seven years of services at the tier III lender.

Mr Kimani is expected to leave next month as the bank plans to reveal a new strategic investor to steer the financial institution through the tough economic environment. However, the Jamii Bora Bank boss will retain his seat on the board so as to smoothen the transition.

The lender’s Deputy Chief Executive Timothy Kabiru will take over the helm from his boss on acting capacity until a new boss is recruited.

Jamii Bora Bank board chairman Richard Kiplagat, yesterday confirmed that the institution has accepted the request of Mr Kimani to retire early but will be available for consultations during the transition period.

“The board would like to thank Mr Kimani for being a great leader in the bank and his dedicated years of services. We wish him nothing but the best in his future endeavors. He will continue to support the bank through the transition which we expect to be smooth as his successor has been an insider at the bank,” said Mr Kiplagat.

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Mr Kimani has been credited for the growth of the firm after it was acquired by City Finance Bank, raising its capital in the equities market and growing presence in the housing sector, small medium enterprises and Microenterprise.

His predecessor, Mr Kabiru who joined the firm in 2011 has banking experience of 23years and 18years on the senior management level.

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He has previously held various senior management positions in Co-operative Bank, Kenya Commercial Bank, ABN, and AMRO Bank.

Jamii Bora Bank wants to raise Sh5 billion from different sources for a strong financial performance in the future.