KCB extends CEO Joshua Oigara’s contract

KCB Group has re-appointed Chief Executive Officer Joshua Oigara for a nother four-year term. In a report quoted by Reuters, the bank said Oigara’s appointment was effective from January 1st 2018. He was first appointed to the position in January 2013.

The bank, which also operates in neighbouring Uganda, Tanzania, Rwanda, Burundi and South Sudan, posted a flat 2017 pretax profit of Ksh29.1 billion after achieving 10% growth the previous year.

The company credited a drop in performance in its Kenyan business for a prolonged electioneering period, the presence of the interest rates cap and a protracted drought.

Oigara was appointed KCB CEO aged 37 in November 2012 to replace Martin Oduor-Otieno, becoming then the youngest CEO of a publicly traded bank at the Nairobi Securities Exchange. Prior to his appointment, he served as Chief Financial Officer and member of the Board of Directors of the company between January 12, 2012 and January 2013.

He also served as Group Chief Financial Officer at KCB Bank Group for East Africa. Oigara joined the bank in November 2011 from Bamburi Cement where he served as Group Financial Director and Chief Financial Officer for the East Africa region. Oigara holds a Bachelor of Commerce degree from University of Nairobi and Master of Business Administration from Edith Cowan University and a host of other qualifications.

He has maintained strong performance for KCB.

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