KCB Group CEO, Paul Russo has been named the African Business Leader of the Year by the African Business Leadership Awards 2024.
The award is in recognition of his achievements in driving KCB’s growth agenda and contribution to the transformation of East Africa’s financial services sector. According to the organisers, he joins a distinguished list Captains of Industry who are driving positive change across the continent.
Dr. Ken Giami, Chairman of the African Leadership Organisation and Publisher of the Africa Leadership Magazine, said, “The winners exemplify the spirit of innovation, resilience, and excellence driving growth and development across the continent. By celebrating their achievements, we not only honour their individual success but also hope to inspire others to push the boundaries of what is possible and contribute to Africa’s continued prosperity.”
The awards follow a rigorous and competitive selection process that gauged the leadership qualities, transformative vision, and outstanding contributions of leaders to the African business landscape, from a distinguished pool of nominees across the continent.
"It is a great honour to receive this award which highlights the collective efforts of all our staff, customers and other stakeholders to advancing our long-term mission to bringing banking closer to our people through innovative banking solutions”, said Group CEO, Paul Russo.
The awards ceremony will take place during the 14th African Business Leadership Awards conference scheduled to take place from 17-18 July 2024 at the UK House of Lords. The event will be held under the theme – “Africa Unleashed: Navigating Disruptions, Enhancing Opportunities”.
Under Russo's leadership, KCB Group has continued to scale new heights, with a commitment to innovation, sustainability, and driving socio-economic development across the region. This is exhibited by the bank’s 2024 Q1 Financial Results, where the bank recorded a 69% growth in net profit to KShs. 16.5 billion in Q1 2024 from KShs. 9.8 billion, regaining its position as East Africa’s most profitable Bank and cementing leadership as the largest lender by assets.
The performance—a historic quarterly milestone—was boosted by revenue growth across the Group network. The balance sheet closed the quarter at KShs.2.0 trillion, up from KShs.1.6 trillion in a similar period last year.
KCB was this month listed among Kenya’s top 3 most valuable brands by Brand Finance, a UK based consultancy in its Global 500 ranking. The Bank has recently several top awards for its role in East Africa’s economic transformation journey. Some of the awards include Best in Customer Excellence (Runners-up Tier 1) and Best Banking Group Kenya - Finance Derivatives Awards.
For further information, please contact Judith Sidi Odhiambo, Head of Corporate & Regulatory Affairs; email: jsodhiambo@kcbgroup.com;
About KCB Group PLC
KCB Group Plc is East Africa’s largest commercial Bank and was established in 1896. The Group is headquartered in Kenya, with the country serving as the lead market with two banking subsidiaries namely KCB Bank Kenya and National Bank of Kenya. Over the years, the Bank has grown and spread its wings into Tanzania, South Sudan, Uganda, Rwanda, Burundi, and the Democratic Republic of Congo. Our subsidiaries KCB Bank Kenya and Trust Merchant Bank (TMB) also have representative offices in Ethiopia and Brussels respectively. Additionally, KCB Group owns KCB Bancassurance Intermediary Limited, KCB Investment Bank, KCB Asset Management, KCB Foundation and Kencom House Limited as non-banking businesses.
Today KCB has the largest branch network in the region with 583 branches, 1,315 ATMs and over 1.1 million merchants and agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and Internet banking services with 24-hour contact center services for our customers to get in touch with the Bank. KCB has a vast network of correspondent relationships totaling over 200 banks across the globe, and our customers are assured of seamless facilitation of their international trade requirements wherever they are.
