The Kenya Deposit Insurance Corporation (KDIC) Board of Directors has appointed Hellen Chepchumba Chepkwony as the new Chief Executive Officer (CEO) for a term of three years. A statement sent to newsrooms indicated that Chepkwony’s formal appointment follows a competitive recruitment process. The new boss has been serving the Corporation in an acting capacity for the last four months. ‘Chepkwony is a distinguished economist and risk management professional with an extensive exposure in both the public and private sectors,’ read part of the statement. It further stated that the Corporation is the country’s resolution authority for banks, mandated to promptly resolve problems, provide deposit insurance for customers of member institutions and generally ensure financial stability in the banking sector. KDIC protects depositors of banks, which are licensed and regulated by CBK.

Source: Kenya News Agency