This archive report was first published on 26 October 2021.
Co-op Bank Group CEO Dr. Gideon Muriuki has made history by winning the prestigious Best Bank CEO in Africa award at the 2021 African Banking Awards.
Organized by EMEA Finance, the awards recognize corporate leaders and financial institutions that have demonstrated exceptional leadership and commitment to delivering affordable credit to the retail and wholesale markets.
Dr. Muriuki's win was a testament to his leadership during the COVID-19 pandemic, where he implemented key strategies to address the challenges facing both businesses and households.
One of the notable decisions made by Dr. Muriuki was to sustain the payment of dividends to shareholders, which provided critical relief and timely support to the over 15 million-member Cooperative movement.
Additionally, the award recognized Dr. Muriuki's decision not to push for staff retrenchment and opting to retain the full staff complement during the pandemic.
Under Dr. Muriuki's leadership, the bank undertook a deep analysis to identify inefficiencies, which were resolved through the redeployment of staff and other resources.
The awards also recognized the successful acquisition and stabilization of Jamii Bora Bank (renamed Kingdom Bank), which offered much-needed stability to the local financial sector.
Furthermore, the EMEA Awards committee feted Dr. Muriuki for driving sustainable credit-growth models that are designed in line with the Credit Risk Adaption Project advised by global consulting firm McKinsey.
Co-op Bank also won the Best Bank in Kenya Award, and Co-opTrust Investment Services Limited, a wholly owned subsidiary of Co-op Bank, won the Best Asset Manager award.
