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Lender bank of Africa appoints first Kenyan managing director

Lender bank of Africa appoints first Kenyan managing director

NAIROBI: Continental lender Bank of Africa has appointed son of the late celebrated banker Reuben Marambii as its first Kenyan managing director. The bank which started operations in Kenya in 2004, picked Ronald Marambii to head its local business. Marambi 45, replaces Moroccan Anis Kaddouri whose term expired in September.

Kaddouri had replaced Ghanaian Kwame Ahadzi in an acting capacity, after he left the bank last year for personal reasons, according to BOA Kenya board. Marambii has worked at BOA since 2004 in various positions and regions. Prior to his latest appointment, he was the BOA-Uganda managing director, where according to the bank, he boosted its performance in that market.

Marambi’s late father is remembered for National Bank’s turnaround during his 14-year tenure as its managing director. The late career banker changed NBK’s fortunes from a loss-making, debt ridden bank to a profitable one.

“Marambii’s appointment is aimed at improving the banks performance as it moves to consolidate its position as a bank of choice,” said BOA Kenya in a statement issued on Friday. BOA is headquartered in Mali and has operations in 17 countries in Africa and a representative office in Paris, France.