Former CS James Macharia appointed as new Sidian Bank Chairman
Macharia began his career in London as a Chartered Accountant in Deloitte’s Tax Consultancy Division, before returning to Kenya in 1989.
His extensive regional experienc.Photo/courtesy.
By Ruth Sang
Former Cabinet Secretary James Macharia has been named the new Chairman of Sidian Bank, succeeding Centum Investment Company Group CEO, Dr. James Mworia. The appointment is another milestone in the illustrious 42-year career of Macharia, spent both in the public and private sector.
Macharia comes with extensive experience and knowledge of the financial sector. Prior to his appointment, he worked in President Uhuru Kenyatta’s government as Cabinet Secretary for Transport, Infrastructure, Housing, and Urban Development, and previously as Cabinet Secretary for Health. His extensive leadership and governance experience is likely to influence Sidian Bank to navigate its next level of growth and transformation.
Speaking on his appointment, Macharia stated that he was excited to be part of the bank during the crucial stage of its growth trajectory. “I am glad to be joining Sidian Bank at such a bright stage of its growth. I gratefully thank my predecessors for establishing a strong foundation, and I eagerly look forward to guiding the institution into a new era of innovation and transformation,” he stated.
Dr. James Mworia, who has been chair of the bank since 2014, will be stepping down from the chairmanship position but retaining the member of the Sidian Bank board. Reflecting on his tenure, Mworia cited the advancements made under his chairmanship period, including the rebranding and transition from K-REP Bank to Sidian Bank, which succeeded. It has been a privilege to serve as Chairman of Sidian Bank for nearly a decade. During this period, we established a solid foundation for the bank and set it up for long-term sustainable growth,” said Mworia.
Macharia began his career in London as a Chartered Accountant in Deloitte’s Tax Consultancy Division, before returning to Kenya in 1989. He has held diverse leadership roles in Africa since then, including Managing Director of African Banking Corporation’s operations in Zambia and Tanzania. His extensive regional experience in finance and banking will most probably contribute substantively to Sidian Bank’s strategy.
Besides Macharia’s appointment, Sidian Bank board of directors has also appointed new members—Prof. Paul Gachanja, an economist and Public-Private Partnership specialist; Apollo Ong’ara, a financial advisor with over 30 years of experience in the financial sector; and Madhav Bhandari, Managing Partner at Baker Tilly, one of the leading accounting firms he has led for over two decades.
This fresh leadership is poised to propel Sidian Bank into a new world of innovation, growth, and good governance.
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