New Era at Kenya Bankers Association as Paul Russo Assumes Chairmanship

Commercial banks in Kenya have elected KCB Group CEO Paul Russo as the new Chairperson of the Kenya Bankers Association (KBA), the umbrella body that represents the interests of the country’s banking sector. The election took place during KBA’s Annual General Meeting held earlier today.

Russo succeeds John Gachora, Managing Director of NCBA Group, who has steered the Association since June 2021. Betty Korir, CEO of Credit Bank, was re-elected as Vice Chairperson.

Taking up the mantle at a time when the banking industry is focused on expanding access to credit and fostering financial inclusion, Russo brings nearly 25 years of experience across banking, consultancy, and corporate leadership. His previous roles include Group HR Director at KCB, Director of Regional Businesses, and Managing Director of National Bank of Kenya. He has also worked at PwC, Barclays (now Absa), EABL, Unga Holdings, and Sidian Bank.

A recipient of the Elder of the Order of the Burning Spear (EBS), Russo also serves on the UN Environment Programme Finance Initiative (UNEP-FI) Leadership Council, promoting sustainable finance practices globally.

“It’s an honour to serve the industry in this capacity,” said Russo. “I thank my peers for their trust and pledge to work collaboratively to enhance financial access and support Kenya’s economic transformation.”

He commended outgoing chair John Gachora for his leadership during a turbulent period marked by COVID-19 recovery, foreign exchange reforms, and advocacy for new MSME lending targets. Under Gachora’s term, banks committed KES 150 billion annually to MSMEs and implemented inclusion-focused initiatives, such as the Persons with Disabilities Accessibility Project.

KBA CEO Raimond Molenje congratulated Russo, expressing confidence in his ability to advance the sector’s innovation and growth agenda.