Standard Chartered Bank Managing Director Lamin Manjang takes over as KBA Chairman

Regional Chief Executive of Standard Chartered Bank, Mr. Lamin Manjang, has taken over as the new Chairman of the Kenya Bankers Association (KBA) board of directors. The Board known as the Governing Council of financial institutions in the country voted for him during the KBA’s Annual General Meeting that was held on 23^rd June 2016.

He will serve for the stipulated 12 month term. Mr. Jeremy Ngunze will continue to serve as Vice Chairperson.

The new leadership takes over from the current Chair, Joshua Oigara, KCB’s Group Chief Executive Officer, who was recognized as being instrumental in steering the industry to implement various progressive initiatives that have contributed to the stability of the sector.

Notable developments introduced under his leadership include industry wide adoption of the Sustainable Finance Initiative (SFI) Guiding Principles that guide banks in balancing their business goals with the economy’s development priorities and socio-environmental concerns; and promoting enhanced industry interoperability through the Kenya Interbank Transaction Switch project that will provide a platform for greater collaboration and innovation in the banking industry and national payments system as a whole.

In addition, Mr. Oigara was a champion of ethical standards and business conduct within the banking industry.  Towards this end, KBA signed the “Code of Ethics for Business in Kenya” which is guided by the UN Global Compact Principles that advocate for the highest level of ethics and integrity in the areas of human rights, labour standards, the environment, and anti-corruption. The Code is championed by the Kenya Private Sector Alliance (KEPSA) and has been endorsed by H.E. President Uhuru Kenyatta as a key intervention towards addressing corruption and unethical practices within the government and private sector.

Mr Manjang, 50, took the helms at Standard Chartered Bank following the appointment of Richard Etemesi to head the lender’s South African unit.

The Gambian is not new to the region having served as Standard Chartered Uganda chief executive before his Oman move in August 2011.

KBA recently committed to introduce a “KBA Charter”, which encapsulates the private sector Code of Ethics, and introduces a Self-Regulatory Framework and Standards for Member Banks.

During the AGM, the KBA General Body adopted the Management’s recommendation and road map for the establishment of the KBA Charter.

 “We are working in consultation with member banks and through an independent consultant, will ensure the KBA Charter is in line with global best practice, and factors in considerations from our various stakeholders, including the Central Bank of Kenya, other sector regulators as well as members of the public,”

said KBA Chief Executive Habil Olaka.