KDIC Hosts Delegation from Reserve Bank of Malawi and Bank of Uganda

The Kenya Deposit Insurance Corporation (KDIC) was honored to host delegations from the Reserve Bank of Malawi and the Bank of Uganda for a benchmarking visit. The exercise was aimed at enhancing their understanding of deposit insurance operations and at strengthening collaborative efforts towards ensuring stability in the regional financial system.

The trip marked Malawi's second experience with KDIC, which highlighted the Corporation's growing importance as an essential source of expertise in deposit insurance for the region.
During her address to the delegations, Mrs. Hellen Chepkwony, CEO KDIC, expressed her appreciation for their continued faith in KDIC as a valuable partner in knowledge sharing on deposit insurance. She acknowledged the significance of such engagements, especially considering that both countries are aiming to enhance their respective deposit insurance systems.

"This visit is a testimony to your commitment to the development of effective and comprehensive deposit insurance systems. We are pleased to share our experiences and expertise with you, while also being very interested in learning from your experiences," noted Mrs. Chepkwony. The benchmark sessions featured interactive discussions and knowledge-sharing on several key areas, which were facilitated by Paul Manga, Director of Deposit Insurance and Bank Surveillance, and David Irungu, Director of Bank Resolution, alongside other members of staff.

These sessions included:

• The evolution of KDIC from the Deposit Protection Fund Board to its current structure
• KDIC’s mandate, governance framework, and enabling legislation (KDI Act)
• Deposit insurance operations and fund management practices
• Risk minimization systems
• Resolution frameworks, tools, and strategies, with a focus on liquidation
• Importance of inter-agency cooperation among Central Banks, deposit insurers, and other financial sector safety net players

Mrs. Chepkwony emphasized the critical need for a robust legal and institutional framework to effectively support deposit insurance and resolution processes. She encouraged the visiting delegations to continually review and enhance their legislation to ensure preparedness in managing financial institution distress.

Mrs. Chepkwony also highlighted the value of strategic partnerships and collaboration, noting that KDIC remains committed to offering technical assistance and capacity-building support to peer deposit insurers across the region.

As the visit drew to a close, the CEO warmly invited the delegates to take some time to explore and enjoy Nairobi, reflecting the Corporation’s spirit of hospitality and regional camaraderie.

KDIC continues to play a pivotal role in fostering knowledge sharing and best practices in deposit insurance, affirming its position as a trusted partner in advancing financial sector resilience across Africa.