In Latest Transition, Banks Elect Veteran Banker as Chairperson
Kenyan Commercial banks have elected KCB Group CEO, Mr Paul Russo, as the new chairperson of the Kenya Bankers Association (KBA). During the KBA Annual General Meeting held on 20th June 2025, the Governing Council also reelected Credit Bank CEO, Ms Betty Korir, as Vice Chairperson.
Mr. Russo succeeds NCBA Group Managing Director, Mr John Gachora, who had served as Chairperson since June 2021. The leadership transition comes at a time when the banking industry is placing greater emphasis on its role in supporting economic growth by expanding access to credit for businesses, individuals, and households. The new leadership is expected to continue championing this agenda, alongside advancing innovation and financial inclusion.
Mr. Russo, a member of the KBA Governing Council, has held other senior roles in banking among them KCB Group Director Regional Business, KCB Group HR Director, and Managing Director, National Bank of Kenya among others. A seasoned HR practitioner, he brings close to 25 years of experience across executive and strategic positions, his corporate experience spans leading institutions such as Barclays (Absa), PwC, K-Rep Bank (Sidian), EABL, and Unga Holdings.
Mr. Russo was feted with a state commendation – Elder of the Order of the Burning Spear (EBS) – by the President for his contribution in Kenya’s financial services sector. He also serves in the United Nations Environment Programme Finance (UNEP-FI) Leadership Council, joining other global leaders in mainstreaming and deepening sustainability integration across the financial industry.
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“It’s an honour to serve the industry in this capacity. I thank my counterparts for their confidence and reaffirm my commitment to working with all stakeholders to strengthen our industry’s contribution to national development. I am keen to deepen the ongoing transformation of the industry to serve our customers better, provide affordable and accessible financial services and effectively catalyze the country’s economic ambitions,” said Mr. Russo.
Mr Russo paid tribute to his predecessor. “His steady hand ensured the industry remained resilient and responsive in times of uncertainty,” he added.
As Chairperson, Mr. Gachora steered the industry through the post-COVID-19 recovery, advocating for loan restructurings and moratoriums that covered Ksh 1.7 trillion by end of 2021. He played a leading role in addressing foreign exchange pressures by fostering collaboration between banks and the Central Bank of Kenya, leading to the adoption of the Kenya Foreign Exchange Code and the revival of the interbank forex market.
Under his leadership, banks committed Ksh 150 billion in new loans annually to MSMEs, embraced ambitious sustainability goals, and rolled out the Persons with Disabilities Accessibility Project, which transformed service delivery and led to the broader adoption of inclusion policies across the industry. “We congratulate Mr. Russo on his election and look forward to working together to deliver greater value for the industry and empower the banking public,” said KBA Chief Executive Officer, Mr Raimond Molenje.
