Esther Koimett Appointed Kenya Airways Non-Executive Director

Esther Jepkemboi Koimett, a career hard-nosed civil servant, has been appointed by the Kenya Airways Board of Directors as a non-executive director of the airline, representing interests of KQ Lenders Company. This appointment takes effect from January 26^th 2025.

Esther,, daughter to former powerful Cabinet Minister in the Moi Era, the late Nicholas Biwott, is an accomplished public servant with over 35 years’ experience spanning across investment promotion, banking, privatisation, public enterprise reform and public policy.

She has played a key role in the restructuring and execution of major strategic transactions and initiatives undertaken by the Kenya Government.

Esther Koimett Boardroom and Corporate Leadership Roles

Esther has served in various leadership roles within the Government of Kenya including: – Principal Secretary-State Department of Broadcasting and Telecommunications; Principal Secretary-State Department of Transport; Investment Secretary and Director General, Public Investments and Portfolio Management at the National Treasury; Permanent Secretary, Ministry of Tourism and Information; and Managing Director/CEO-Kenya Post Office Savings Bank.

Esther has extensive board experience and has previously served on the Board of Kenya Airways Plc, representing the Government of Kenya. She is currently Chairperson of M-Pesa Holdings Company and AAR Insurance Kenya Ltd and a non-executive director at Car& General.

She holds a Bachelor of Commerce and an MBA from University of Nairobi, an Advanced Management Programme(AMP) Certificate from Strathmore University and is a member of the Institute of Investment and Financial Analysts, Kenya.

Esther is noted for her role in some notable transactions, including the Safaricom and KenGen IPOs, privatization of some state-owned enterprises and her boardroom leadership skills.

Esther Koimett’s role as Director is expected to provide direction to KQ Lenders Company, a special purpose vehicle formed by a consortium of 11 Kenyan Banks, who have given money to the national carrier.

These banks are Equity, KCB, Coop Bank, National Bank of Kenya, Diamond Trust Bank, SBM, CBA, NIC, I&M, Ecobank and Standard Chartered Bank Kenya.

These banks, who interests will be protected on the board of KQ by Esther, are owners of the airline after converting part of their unpaid loans into equity in support of KQ’s restricting plan.

KQ Lenders Company has a 38.1% stake in Kenya Airways, making it the second largest shareholder after the Kenya Government, which has a 48.9% majority stake.

Esther is joining the Kenya Airways Board at a time when the national carrier is in the middle of delicate onsite and offline negotiations with notable foreign investors from Qatar and Singapore, with the Government of Kenya’s long-held plan of selling off the national assets to a private investor, back on the cards.

KQ has been saddled by a huge debt load, including facilities used to purchase aircrafts, provide operating capital, acquisition of 10 Embraer Jets and cash needed to pay crucial suppliers.

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