The Federation of Kenyan Employers (FKE) Wednesday appointed Habil Olaka as the new president, replacing Mark Obuya, whose term has ended.
The appointment takes effect immediately and will see Mr Olaka serve for a period of two years.
The Kenya Bankers Association (KBA) chief executive was previously served as vice-president.
He has been sitting on the board of the employer’s body representing the banking sector.
“Mr Olaka has extensive experience in finance management and strategic leadership having served in various capacities in the finance sector locally and in the region,” said FKE chief executive Jacqueline Mugo during 61st annual general meeting held Wednesday.
Mr Olaka holds a bachelor’s degree in electrical engineering from the University of Nairobi and a master’s degree in finance from the Manchester Business School in the United Kingdom.
He is also an alumnus of the Strathmore School of Accountancy as well as United States International University.
He is a member of the Institute of the Certified Public Accountants of Kenya (ICPAK) and the CFA Institute.
Before his appointment as KBA chief executive, he was the director of operations at the East African Development Bank (EADB) based in Kampala, Uganda.
Mr Olaka takes over amid the coronavirus pandemic that has battered the economy, dealing a blow to many enterprises.
“In the last few months, 47 member companies of the Federation have been forced to reduce their staff numbers as they were unable to afford paying wages of 1,118 staff,” said Ms Mugo.
The new president will be deputised by Ms Gilda Odera, managing director All About Marketing and Mr Mike Macharia, chief executive Kenya Association of Hotel Keepers and Caterers as the first and second national vice president respectively.
Mr Obuya will continue serving on the board as the immediate past president.