Former Cabinet Secretary and seasoned banker James Macharia has been appointed Chairman of Sidian Bank as part of a leadership overhaul that also brings in three new board members.
Macharia, who served as Transport and Health Cabinet Secretary under former President Uhuru Kenyatta, returns to the financial sector where he built his early career. Before joining government, he was the Chief Executive Officer of NIC Bank which later merged with CBA to form NCBA Group.
With more than four decades of experience spanning both public service and the banking industry, Macharia succeeds James Mworia, the Centum Investment Company Group CEO, who has chaired the Sidian Bank board since 2014.
Under the new structure, Mworia will step down as chairman but remain on the bank’s board.
“It has been a great honour to serve as Chairman of Sidian Bank since 2014, a period during which we successfully transitioned from K-REP Bank to Sidian Bank and strengthened the institution’s foundation for sustainable growth,” said Mworia.
“I am proud of the progress the bank has made under the stewardship of a dedicated management team and staff, and of the continued trust of our customers and shareholders. I wish the new Chairman, Macharia, and the Board every success as they lead Sidian into its next phase of growth and transformation,” he added.
Centum Investment Company, listed on the Nairobi Securities Exchange, remains one of Sidian Bank’s principal shareholders.
Alongside Macharia’s appointment, Sidian Bank has also named Prof. Paul Gachanja, Apollo Ong’ara, and Madhav Bhandari to its board part of what the bank describes as a “strategic reorganisation” aimed at steering its next growth phase.
“I’m happy to be joining Sidian Bank at a very exciting growth phase of the business. I thank my predecessors for a job well done, as I look forward to an exciting and transformational journey ahead,” said Macharia.
His banking career includes senior roles at Standard Chartered Bank, African Banking Corporation, and NIC Bank Group.
