Seasoned Lawyer Musyoka Appointed New Chair

Carol-led KDIC Board Inducted; Hits the Ground Running.   

The newly-appointed Board of the Kenya Deposit Insurance Corporation has hit the ground running following a day-long induction exercise conducted last week here in Nairobi.

The appointments, gazetted last month, saw seasoned lawyer, banker and Corporate Governance guru Ms. Carol Musyoka, installed as the new Chair of the state agency established under the KDI Act of 2012. The Carol-led Board will be in office for an initial 3-year term, during which it will transact formal business in line with the Corporation’s mandate.

Also appointed to the 9-member Board are  Anne Agimba,  Joshua Mutisya Musyimi and John Benson Murage Maina (reappointment).

Right to Left: The new Chair C. Musyoka (Second, right) pose for a group photo alongside A. Agimba, M. Mohamud, John Njera, E. Kitche (Board Secretary) and Arthur Gacheru during a recent event.

Musyoka takes over the KDIC mantle from Mr. James Teko Lopoyetum, who retired in June this year, after serving for a term of 3 years.

The quartet will serve the KDIC Board for an initial term of 3 years, alongside Cabinet Secretary for National Treasury and Planning, the Attorney General, Dr. Patrick Njoroge (Governor, Central Bank) Dr. Habil Olaka (CEO, Kenya Bankers Association), the and the Corporation’s Chief Executive Officer Mr. Mohamud Ahmed Mohamud.  

Caption: The Chair and CEO are all smiles as they pose for a photo shortly after the induction.

Carol, an accomplished trainer and coach in leadership and Corporate Governance, has several years of experience in financial leadership-areas of deal origination, negotiation, structuring and execution- having been involved in several landmark corporate finance transactions in Kenya. 

Her executive management and board experience includes her role as Corporate Director, Barclays Bank of Kenya as well as the Executive Director and Chief Operating Officer of K-Rep Bank, Kenya's first microfinance institution besides past and present membership in a number of Boards.

Ms. Carol  has had considerable credit risk and corporate banking experience and training over her banking career at both Barclays and Citibank. Her immense experience alongside other Board members will be crucial in steering the Corporation to the next level, as KDIC, Kenya’s resolution authority  races towards achieving its objectives.  

She holds a Master of Law degree from Cornell University, USA and a Bachelor of Law degree from the University of Nairobi.  She is a recipient of the 2010 Eisenhower Fellowship for International Leadership.