Hellen Chepchumba Chepkwony, a Macroeconomist and Risk Certified Professional, has been named Chief Executive Officer of the Kenya Deposit Insurance Corporation (KDIC) for a term of three years.
Chepkwony takes over from Mohamud Mohamud who exited in January.
In a statement, KDIC said Chepkwony’s formal appointment follows a competitive recruitment process.
“Chepkwony is a distinguished economist and risk management professional with extensive exposure in both the public and private sectors,” the statement read.
KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution.
Further, KDIC protects depositors against the loss of all their deposits or bank balance in the unlikely event of a bank failure.
