KENYA – Development finance institution Agricultural Finance Corporation (AFC), has appointed George Kubai as its new managing director effective April 1 2021.
Prior to his appointment, Mr Kubai was the General Manager, Downstream Operations at the National Oil Corporation of Kenya (NOCK).
The new boss takes over from the lender’s Corporation Secretary Mrs Rose Ochanda who has been the acting Managing Director since the retirement of the long-serving CEO Lucas Meso who stepped down in October 2020 after almost 10 years at the helm.
Announcing the appointment, AFC Board Chairman Franklin Bett said that the Board is delighted to have Mr. Kubai take over the role and they are confident that the new boss will carry on with the Corporations’ mission of providing sustainable financing through participative and collaborative financial and non-financial interventions, innovations, technology, and products.
“AFC is on a trans-formative journey which has seen the Board adopt an ambitious yet attainable strategic plan which I have no doubt that the Managing Director has taken time to appreciate. With his capabilities and track record, we are certain that he will be able to continue with the good work,” said Bett.
“His track record as a champion for strategy, broad experience in operational efficiency and diverse leadership skills will be of great benefit to AFC,” added Bett.
While accepting his appointment to head the organization, Mr Kubai said that his focus areas will include growing AFC’s portfolio through aggressive mobilization of additional resources, injecting efficiency into its operations to ensure they are lean, targeted, and impactful and emphasizing on a market-led approach that seeks to commercialize agriculture.
“AFC is on a transformative journey which has seen the Board adopt an ambitious yet attainable strategic plan which I have no doubt that the Managing Director has taken time to appreciate.”AFC Board Chairman – Franklin Bett
‘’For AFC to be impactful, it must serve Kenya’s agricultural community in a manner that meets their unique needs. We will therefore start a journey of partnering with our clients to realign our products to meet their evolving preferences,” said Kubai.
Mr Kubai holds a Bachelor degree from Maseno University and a Masters of Business Administration from Jomo Kenyatta University of Agriculture and Technology.
He has over fifteen years’ experience in business management in both public and private sectors.
He previously worked for Equity Bank Kenya, Sanlam Insurance, and Coca-Cola Beverages Africa.
Mr. Kubai’s appointment comes at a time when the financial sector in Kenya is reeling under the economic disruptions of the COVID-19 pandemic which has forced banks and other financial institutions to reschedule loan repayments by the borrowers.
AFC Board Chairman clarified to the press that they are ready to listen to their clients and will handle them on case-by-case basis.
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