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Postbank gets new boss after three-month drag

Raphael Lekolool.
New Postbank managing director Raphael Lekolool. PHOTO | COURTESY 

Kenya Post Office Savings Bank (Postbank) has appointed Raphael Lekolool as the new managing director effective June 1, ending a three-month delay in the recruitment process.

Mr Lekolool’s term started on Monday following the retirement of his predecessor, Anne Karanja, who had served for six years.

Her term lapsed in February, when she attained retirement age but the replacement process ran into controversies, delaying the naming of her successor.

On Tuesday, board chairman Ntoros ole Senteu finally announced that the board had settled on Mr Lekolool.

“With his vast experience in banking, microfinance and insurance sectors, Lekolool is well placed to drive the bank’s business to the next level while offering customer-driven products,’’ said Mr Senteu.

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Activist Okiya Omtatah had sued the bank over the delay in replacing Ms Karanja whose term initially ended in August.

Mr Lekolool has previously served as the enterprise risk manager at UAP-Old Mutual and head of internal audit at Faulu Microfinance. He also once served as KCB Group head of quality assurance.

He is an MBA graduate of Cardiff Business School and holds a BSc degree in Banking from the University of Manchester.

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