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In a major corporate realignment, veteran bankers from Equity and KCB are tapped to steer the future of Kenya’s mortgage and insurance giants.

In a major corporate realignment, veteran bankers from Equity and KCB are tapped to steer the future of Kenya’s mortgage and insurance giants.
The boardrooms of Kenya’s financial institutions are witnessing a significant reshaping, as a wave of high-profile appointments sees seasoned banking technocrats moving to stabilize and steer the insurance and mortgage sectors. In a strategic double play reported today, both HF Group and Sanlam Allianz have raided the top tier of the banking industry to bolster their governance structures, signalling a shift towards more aggressive, bank-like risk management and strategic oversight.
Housing Finance (HF) Group, the listed mortgage lender looking to reinvent itself, has turned to the formidable talent pool of Equity Bank. The Group has appointed Gerald Gachoki Warui, the former Managing Director of Equity Bank Kenya, as an Independent Non-Executive Director. Warui, who left Equity in 2024 after a 30-year tenure, brings a reputation for operational ruthlessness and deep credit risk knowledge—skills HF desperately needs as it pivots to full-service banking.
Joining him is Samuel Makome, another Equity alumnus and former MD of its Tanzanian subsidiary, who also brings experience from KCB. This influx of "Equity DNA"—characterized by agility and mass-market penetration—suggests HF is gearing up for a more combative stance in the retail market.
Simultaneously, the insurance sector has gained a heavyweight. Martin Oduor-Otieno, the former KCB Group CEO and current Chairman of EABL, has been appointed to the board of Sanlam Allianz Holdings (Kenya) PLC. Oduor-Otieno is a titan of corporate Kenya, known for his steady hand and strategic vision. His entry into Sanlam Allianz, a joint venture powerhouse, indicates the firm’s ambition to dominate the regional insurance landscape by leveraging high-level corporate networks.
The message is clear: the days of passive boards are over. By tapping executives who have led Kenya’s biggest banks through periods of explosive growth, HF and Sanlam are signaling that they are ready to compete at the highest level. For Warui, Makome, and Oduor-Otieno, the challenge will be to translate their banking success into the complex, often slower-moving worlds of mortgages and insurance.
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