Paul Russo, the Group Chief Executive Officer of KCB Group PLC, has been elected as the new Chairman of the Kenya Bankers Association (KBA). Russo’s election was officially announced by the KBA on Monday, 23 June 2025, marking a significant leadership transition for the umbrella body representing Kenya’s banking sector.
He succeeds John Gachora, the Group Managing Director of NCBA Group PLC, who has served as KBA Chairman since 2021. The KBA, which represents all commercial banks regulated by the Central Bank of Kenya (CBK), noted that Russo brings over 25 years of extensive leadership experience in the financial services industry to the role.
His career includes senior roles such as Managing Director of the National Bank of Kenya, Group Human Resources Director at KCB Group, and Director of Regional Business for the same institution.
In recognition of his contribution to Kenya’s financial sector, Russo was awarded the Elder of the Order of the Burning Spear (EBS) by the President of the Republic of Kenya.
Beyond his banking responsibilities, Russo serves on the United Nations Environment Programme Finance Initiative (UNEP FI) Leadership Council, where he contributes to advancing sustainability principles in global finance.
The KBA outlined key priorities for the banking industry under Russo’s leadership. Central among them is the continued effort to improve private sector access to affordable credit.
This aligns with the industry’s commitment to disburse KSh 150 billion annually in credit to Micro, Small, and Medium Enterprises (MSMEs) from 2025 — a move considered vital for stimulating economic growth and employment.
Russo’s tenure is also expected to focus on accelerating innovation, expanding financial inclusion across the country, and supporting national economic transformation efforts. The banking sector continues to grapple with challenges such as digital disruption, credit risk management, and post-pandemic economic recovery.
The KBA commended outgoing Chairman John Gachora for his “distinguished” service during a time of economic uncertainty and recovery. His tenure saw key industry reforms and strong advocacy on behalf of the sector.
The KBA reaffirmed its commitment to fostering a stable, competitive, and forward-looking banking environment in Kenya, in collaboration with the CBK and other stakeholders.
With Russo’s wide-ranging experience — spanning retail operations, human capital, regional strategy, and sustainability — he is well-positioned to guide the association through a period that demands both innovation and resilience.
Industry analysts expect Russo to strengthen collaboration within the sector and with regulators, particularly around increasing credit access for SMEs and promoting sustainable finance.
His involvement with UNEP FI is seen as complementary to the growing emphasis on Environmental, Social, and Governance (ESG) principles within Kenya’s financial ecosystem.
– By Nusurah Nuhu
