KCB Group Chief Executive Officer Paul Russo has been elected the new Chairperson of the Kenya Bankers Association (KBA), the apex body representing Kenya’s banking industry. He succeeds NCBA Group CEO John Gachora, who has held the role since June 2021 and played a pivotal part in helping the sector navigate post-Covid-19 economic recovery.

Credit Bank CEO Betty Korir was also re-elected as KBA Vice Chairperson, reaffirming her leadership in steering the industry’s inclusive banking agenda.

Russo’s appointment comes at a critical moment as the banking sector intensifies efforts to drive economic growth by widening access to credit for households, SMEs, and corporates. His leadership is expected to champion innovation, financial inclusion, and a robust regulatory environment to support the evolving needs of Kenya’s economy.

A seasoned executive and human capital strategist with nearly 25 years of experience, Russo has held senior roles at Barclays (now Absa), PwC, K-Rep Bank (Sidian), EABL, and Unga Holdings. Within KCB, he previously served as Director of Regional Business and Group HR Director, and is a longstanding member of the KBA Governing Council.

“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.

“I express my sincere gratitude to my predecessor, John Gachora, for his commendable leadership during one of the most challenging periods for the banking sector. His steady hand ensured the industry remained resilient and responsive in times of uncertainty,” he added.

Gachora led the banking industry through a critical post-COVID-19 recovery period, championing loan restructurings and moratoriums that provided relief on credit facilities worth KES 1.7 trillion by the end of 2021. 

He was instrumental in easing foreign exchange pressures by strengthening collaboration between commercial banks and the Central Bank of Kenya—efforts that culminated in the adoption of the Kenya Foreign Exchange Code and the revitalization of the interbank forex market.

During his tenure, the industry committed to disbursing KES 150 billion in new loans annually to micro, small, and medium enterprises (MSMEs), while also embracing bold sustainability targets. He also spearheaded the Persons with Disabilities Accessibility Project, a milestone initiative that not only improved service delivery for persons with disabilities but also prompted broader inclusion reforms across the sector.

“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, Raimond Molenje.

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