FSD Kenya has announced the appointment of Rashmi Pillai as its new Chief Executive Officer, effective 2nd February 2026.
Rashmi succeeds Tamara Cook, who exited on 22nd January to join the Office of the United Nations Secretary‑General’s Special Advocate for Financial Health in New York.
A New Chapter for Kenya’s Financial Sector
Rashmi brings nearly two decades of experience driving financial sector transformation across Africa and South Asia. Her career spans leadership roles at FSD Uganda, Wave Mobile Money, CGAP at the World Bank, and UNCDF. She also founded India’s Sankalp Forum, the country’s first major impact investment platform, now expanded across Southeast Asia and East Africa.
At FSD Uganda, Rashmi secured landmark partnerships, including a $26 million facility with Mastercard Foundationfocused on youth and women’s empowerment, and a €5 million technical assistance facility with the European Unionto prepare businesses for debt and equity financing.
Her expertise in financial inclusion, market systems development, and policy innovation positions her to lead FSD Kenya at a pivotal moment. While 84.8% of Kenyans have formal financial access, only 18.3% report being financially healthy – able to meet daily needs, absorb shocks, and pursue opportunities. Addressing this gap will be central to her mandate.
Rashmi’s Vision
“I’m honoured to lead FSD Kenya as we enter this crucial next chapter,” said Rashmi Pillai. “Kenya has achieved remarkable progress in financial access, but this hasn’t translated into financial health for most people. Our challenge now is ensuring that finance genuinely serves as an enabler of resilience and opportunity, particularly as we navigate climate change, economic transformation, and rapid technological advancement.”
She emphasized FSD Kenya’s unique role as a neutral convener, funder, and de‑risker of innovation, committed to generating rigorous evidence and catalysing systemic change. “I look forward to working with partners across government, the private sector, and civil society to ensure Kenya’s financial sector delivers meaningful value for people and businesses.”
Endorsement from FSD Kenya’s Leadership
Anne Mutahi, Chair of FSD Kenya’s Programme Investment Committee (PIC), welcomed the appointment:
“Rashmi joins us with a wealth of experience in building partnerships, mobilising resources, and driving market systems change. As FSD Kenya embarks on its new 2026‑2030 strategy, we are confident she will strengthen FSD Kenya’s position as an innovative thought leader, able to synthesise the aspirations of Kenyans into actionable solutions. Under her leadership, FSD Kenya will continue to serve as a genuine catalyst for inclusive economic growth.”
Transition from Tamara Cook
Tamara Cook, who joined FSD Kenya in 2014 and became CEO in 2019, leaves behind a strong legacy. She positioned the organisation as a centre of excellence in inclusive and green finance, championed financial health, and steered programmes benefiting low‑income households, women, farmers, youth, and MSMEs.
Her next role at the UN will take Kenya’s lessons on financial health to a global stage.
