KCB Group CEO, Paul Russo has been named the African Business Leader of the Year by the African Business Leadership Awards 2024.
The award is in recognition of his achievements in driving KCB’s growth agenda and contribution to the transformation of East Africa’s financial services sector.
According to the organisers, he joins a distinguished list of Captains of Industry who are driving positive change across the continent.
Dr Ken Giami, Chairman of the African Leadership Organisation and Publisher of the Africa Leadership Magazine said, “The winners exemplify the spirit of innovation, resilience, and excellence driving growth and development across the continent. By celebrating their achievements, we not only honour their individual success but also hope to inspire others to push the boundaries of what is possible and contribute to Africa’s continued prosperity.”
The awards follow a rigorous and competitive selection process that gauged the leadership qualities, transformative vision, and outstanding contributions of leaders to the African business landscape, from a distinguished pool of nominees across the continent.
“It is a great honour to receive this award which highlights the collective efforts of all our staff, customers and other stakeholders to advance our long-term mission of bringing banking closer to our people through innovative banking solutions,” said Group CEO, Paul Russo.
The awards ceremony will take place during the 14th African Business Leadership Awards conference scheduled to take place from 17-18 July 2024 at the UK House of Lords. The event will be held under the theme – “Africa Unleashed: Navigating Disruptions, Enhancing Opportunities”.
KCB scales new heights under Paul Russo
Under Russo’s leadership, KCB Group has continued to scale new heights, with a commitment to innovation, sustainability, and driving socio-economic development across the region. This is exhibited by the bank’s 2024 Q1 Financial Results, where the bank recorded a 69% growth in net profit to KShs. 16.5 billion in Q1 2024 from KShs. 9.8 billion, regaining its position as East Africa’s most profitable Bank and cementing leadership as the largest lender by assets.
The performance—a historic quarterly milestone—was boosted by revenue growth across the Group network. The balance sheet closed the quarter at KShs.2.0 trillion, up from KShs.1.6 trillion in a similar period last year.
KCB was this month listed among Kenya’s top 3 most valuable brands by Brand Finance, a UK-based consultancy in its Global 500 ranking.
The Bank has recently several top awards for its role in East Africa’s economic transformation journey. Some of the awards include Best in Customer Excellence (Runners-up Tier 1) and Best Banking Group Kenya – Finance Derivatives Awards.
