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Markets

KDIC seeks first substantive chief executive officer

Kenya Deposit Insurance Corporation (KDIC) is seeking to appoint its first substantive chief executive since creation two years ago.

The institution charged with insuring customer deposits with commercial banks has had two acting CEOs in its short life undermining its effort to cement its place in the financial market.

“KDIC seeks to recruit a chief executive officer to … spearhead the development and review of its strategic plan and to be involved in the management of banks placed under receivership by the CBK,” said the corporation in a statement.

Aggrey Bett, who was director of Deposit Protection Fund at the time the corporation was created became its first acting CEO in line with the KDIC Act.

Mr Bett retired late last year leading to the appointment of current acting head Mohamud Mohamud. KDIC has gained prominence in recent months following the collapse of three banks – Dubai, Imperial and Chase.

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