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Joshua Oigara leaves KCB bank after 10 years as CEO

Oigara was among the top earning CEO's pocketing slightly over Sh20 million per month

Outgoing KCB CEO Joshua Oigara

Kenya Commercial Bank Chief Executive officer Joshua Nyamweya Oigara is leaving KCB after a 10-year stint.

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Oigara who’s time at the bank has seen exemptional performance was due for retirement on December 31, 2022 but will be leaving at the end of May 2022. Under Oigara’s helms, KCB has seen an increase in profit from Sh14.3 billion in 2013 to Sh34.2 billion in December 2021.

Before KCB, Oigara who holds a Bachelor’s degree in Business Administration and a Master’s degree in Business Administration in Strategic Management and Investments from Edith Cowan University in Australia worked for Bamburi Cement where he was the companies Finance Director until 2011.

He was hired in KCB in 2011 as the Chief Financial Officer before he rose to replace Martin Oduor as the company’s chief executive.

Oigara who is among the highest-paid chief executives earning slightly above Sh20 million per month has seen the expansion of the bank to markets outside Kenya like Uganda, Rwanda and South Sudan.

The 47-year-old joins the list of corporate leaders who have served their respective companies for over ten years. Others that have held helms of leadership for over a decade include DTB Group’s Nasim Devji and Co-operative Bank’s Gideon Muriuki who have both served for 20 years, Equity Group’s James Mwangi for 17 years and Crown Paints’ Rakesh Rao who has served for 16 years.

Paul Russo who has been the director of National Bank of Kenya (NBK) and who has been overseeing the take over by KCB has been confirmed to take over from Oigara.

Russo has previously had stints at Barclays Bank, PriceWaterhouseCoopers (PWC), K-Rep Bank and Unga Limited,

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