Former KCB CEO Joshua Oigara has picked the same role at Stanbic Bank Kenya and South Sudan, effective from December 1, 2022. This follows a period of inactivity since he left his post at KCB back in April 2022. He was replaced by Peter Russo.
Oigara had been with the bank for nine years.
Oigara had spearheaded the company to greater heights during his time with the institution. He had seen the bank grow its revenues substantially, and his role in building partnerships with other companies, including Safaricom had also allowed the bank to expand its offerings, including products such as KCB M-PESA, and its stake in overdraft Fuliza alongside NCBA.
Stanbic is also one of the key banks in Kenya. It strives to appeal to locals, most of whom bank with Equity, KCB, Absa, and Co-op Bank. This development will also see Oigara bring his expertise to the lender to match the competition that has since transitioned many of its products and services to online platforms.
Digital channels have, for a long time now, been a success story for banks. They started being popular back in the day when Equity launched Eazzy Banking. Others have since followed this model, and have even gone past it with products such as digital loans, as well digital corporate banking. It will be interesting to see how Oigara will lead his team to further this goal.
Oigara’s wealth of experience in the banking field, as well as his connections with leading leaders in the banking and telco industry in Kenya will surely benefit Stanbic. This, of course, will be evident in the coming days once Joshua’s tenure has taken root.