The Federation of Kenyan Employers (FKE) Wednesday appointed Kenya Bankers Association (KBA) Chief Executive Habil Olaka as its new president following the expiry of Mark Obuya’s term.
Dr Olaka’s appointment takes effect immediately and will run for two years.
The KBA CEO is not new to FKE as he has previously served as FKE Vice President. Until his appointment, Dr Olaka has been sitting on the federation’s board as a representative of the banking sector.
“Mr Olaka has extensive experience in finance management and strategic leadership having served in various capacities in the finance sector locally and in the region,” said FKE chief executive Jacqueline Mugo during 61st annual general meeting held Wednesday.
Mr Olaka holds a bachelor’s degree in electrical engineering from the University of Nairobi and a master’s degree in finance from the Manchester Business School in the United Kingdom.
He is also an alumnus of the Strathmore School of Accountancy as well as United States International University.
He is a member of the Institute of the Certified Public Accountants of Kenya (ICPAK) and the CFA Institute.
Before his appointment as KBA chief executive, he was the director of operations at the East African Development Bank (EADB) based in Kampala, Uganda.
Dr. Olaka’s appointment comes at a time different sectors of the economy are straining due to the effects of the COVID-19 Pandemic.
“In the last few months, 47 member companies of the Federation have been forced to reduce their staff numbers as they were unable to afford paying wages of 1,118 staff,” said Ms Mugo.
Dr. Olaka will be deputized by Gilda Odera, managing director All About Marketing and Mr. Mike Macharia the Chief executive Kenya Association of Hotel Keepers and Caterers as the first and second national vice president respectively.
Mr Obuya will continue serving on the board as the immediate past president.