Women are slowly breaking the glass ceiling and set gender-based barriers in boardrooms, yanking open the c-suites, and calling the shots in some of the big banks in Kenya. These she captains of industry are also aggressive in setting the stage for future women leaders in Kenya’s cut throat banking business.

Women CEOs standing out includes Family Bank’s CEO Nancy Njau as its CEO and Managing Director, who is on the driving seat as the lender makes a move to list its shares at the Nairobi Securities Exchange, thus unlocking its true value.

Nancy was appointed to head Family Bank, owned by the wealthy Titus Muya, in January last year. She took over from Rebecca Mbithi, who was the first female CEO at the Bank and served there for 5 years before resigning to pursue personal interests.

It is under Ms. Njau’s watch that Family Bank is now aggressively pursuing its goal to be listed at the Nairobi Securities Exchange(NSE).

Nancy, who packs 22 years in the banking business, joined Family Bank in 2002 as a graduate clerk and has worked through the trenches, to head the lender. She has been instrumental in driving the bank’s digital agenda and customer relations.

Women Heading Top Banks in Kenya

Other notable women in the c-suite of banks in Kenya include Annastacia Kimtai, Managing Director and CEO of KCB Bank Kenya, a subsidiary of KCB Group Plc. She was appointed in April 2023 to lead the Group’s business in Kenya. She has previously held the position of Director of Retail Banking, at KCB as well as Branch Manager, KCB in Kilindini in Mombasa. Kimtai has a Master’s Degree in Business Administration.

Nasim Devji, the MD and Chief Executive of Diamond Trust Bank, with a strong presence in East Africa, is one of Kenya’s longest serving women leaders in the banking sector.

Devji became the first female Bank CEO when she was appointed to head DTB in 2001. She has been the engine behind DTB’s significant growth across East Africa, where it now has 183 branches spread across the region.

Betty Korir, a lawyer, is the CEO of Credit Bank, joining the institution in 2013 as Head of Risk, Head of Credit, before heading the C-Suite in 2017. She is credited as being the brains behind the Elevate-Her program targeting women entrepreneurs and driving the digital transformation phase at Credit Bank. She has been Vice Chairman of Kenya Bankers Association, demonstrating her skills and ability to drive Kenya’s banking industry agenda and interests.

Appointed as CEO and Managing Director of UBA Bank Kenya on January 19th 2024, Mary Mulili is the first female to head the bank’s c-suite in its 15-year history. She has previously been Executive Director, UBA Kenya, General Manager Bank of Africa and Head of Corporate Banking, GT Bank Kenya. She is credited for being a champion in driving innovation and financial inclusion.

Across Africa, some of the leading female CEOs leading major banks include Mary Vilakazi: CEO of FirstRand, one of South Africa’s largest financial services groups. Then there is Natascha Viljoen: CEO of Anglo American Plc, a multinational mining company with a significant presence in Africa.

In Nigeria, women CEOs heading banks include Adaora Umeoji GMD/CEO of Zenith Bank, one of Nigeria’s largest banks; Nneka Onyeali-Ikpe- MD/CEO of Fidelity Bank, known for her transformational leadership and digital banking initiatives; Yemisi Edun: MD/CEO of First City Monument Bank (FCMB); Miriam Olusanya: MD of Guaranty Trust Bank; Halima Buba: MD/CEO of SunTrust Bank; Ireti Samuel-Ogbu: MD/CEO of Citibank Nigeria; and Bukola Smith: MD/CEO of FSDH Merchant Bank.

Other top women Bank CEOs in Africa are Yetunde Oni- MD/CEO of Union Bank; and Kafilat Araoye-MD of Lotus Bank.

In Egypt, Women Bank CEOs include Hala Hatem Sadek, CEO of Kuwait Finance House, maintaining her position after the acquisition of Ahli United Bank.

Rwanda has its collection of women heading Bank C-Suites too and include Diane Karusisi, CEO of Bank of Kigali; – Lina Mukashyaka Higiro- CEO of NCBA Bank Rwanda; Patience Mutesi, MD of BPR Bank Rwanda Plc and Carine Umutoni- MD of Ecobank Rwanda, a subsidiary of Togolese-based Ecobank Transnational Group.