KCB Group CEO Paul Russo named Africa Business Leader of the Year

KCB Group CEO Paul Russo speaks during a past event. He has been named the Africa Business Leader of the Year by Africa Leadership Magazine (ALM). PHOTO/KCB.
  • Dr. Ken Giami, Chairman of the African Leadership Organisation and Publisher of Africa Leadership Magazine, expressed admiration for the winners.
  • Since taking on the role of CEO, Paul Russo has demonstrated a steadfast commitment to innovation, sustainability, and socio-economic development.
  • As KCB Group continues to thrive under his guidance, Russo’s achievements serve as an inspiration for business leaders across the continent.

In a remarkable achievement for the East African business community, Paul Russo, CEO of KCB Group, has been named the African Business Leader of the Year by Africa Leadership Magazine (ALM).

This prestigious accolade follows a meticulous three-step points-based selection process, including a call for nominations, an online poll, and a comprehensive review by the ALM editorial board of nominees’ achievements over the past year and beyond.

The poll accounted for 65 per cent of the points, while supporting evidence contributed 35 per cent to the final selection process.

The winners of the 14th African Business Leadership Awards (ABLA) 2024 will receive their awards during a special ceremony at the 9th ALM Africa Summit, scheduled for July 17-18, 2024 at the UK House of Lords.

The summit will be held under the theme “Africa Unleashed: Navigating Disruptions, Enhancing Opportunities.”

Celebrating Excellence

In his remarks, Dr. Ken Giami, Chairman of the African Leadership Organisation and Publisher of Africa Leadership Magazine, expressed admiration for the winners.

“The winners exemplify the spirit of innovation, resilience, and excellence driving growth and development across the continent. By celebrating their achievements, we not only honour their individual success but also hope to inspire others to push the boundaries of what is possible and contribute to Africa’s continued prosperity.

“Through their leadership across the critical sectors of the African economy, they are shaping a brighter future for Africa and demonstrating the immense potential within our business community,” Giami stated.

The ABLA is an annual recognition event by the African Leadership Magazine, aimed at honouring exceptional corporate practices and outstanding achievers in Africa’s business landscape and private sector.

The awards align with the magazine’s tradition of showcasing often overlooked aspects of Africa’s businesses and leaders, celebrating exemplary business leadership on the continent.

KCB Group CEO Paul Russo gestures while he spoke at a past event. The bank has reclaimed its position as the most profitable bank in East Africa, posting a 69 per cent rise in Q1 net profit to Sh16.5 billion. PHOTO/Metropol Digital.

Visionary Leader

Since taking on the role of CEO, Paul Russo has demonstrated a steadfast commitment to innovation, sustainability, and socio-economic development.

Under his leadership, KCB Group has seen remarkable growth, with the lender’s asset value reaching an impressive Sh2 trillion.

Additionally, KCB reclaimed its position as the most profitable bank in East Africa, posting a 69 per cent rise in Q1 net profit to Sh16.5 billion.

Reflecting on the award, Russo attributed the success to the collective efforts of the entire KCB team.

“This award showcases the collective efforts of the entire KCB team and our commitment to driving positive change and sustainable growth across this region,” Russo said adding that: “I am humbled by this acknowledgment and remain dedicated to advancing our mission of transforming lives and communities through innovative banking solutions”

A Celebration of Achievements

Below is the complete list of winners and runners-up in the various categories of the African Business Leadership Awards (ABLA) 2024:

African Business Leader of the Year

  • Winner: Paul Russo, Group CEO, KCB Group Plc, Kenya.
  • Runner-up: Allen Onyema, CEO, Air Peace Nigeria.

African Female Business Leader of the Year

  • Winner: Princess Victoria Haastrup, Executive Vice-Chairman, ENL Consortium Ltd, Nigeria.
  • Runner-up: Kadijah Amoah, CEO, Pecan Energies Ghana Limited.

African Finance Minister of the Year

  • Winner: Olavo Correia, Deputy Prime Minister & Minister of Finance, Cape Verde.
  • Runner-up: Uzziel Ndagijimana, Minister for Finance and Economic Planning, Rwanda.
Customers at a KCB banking hall in Nairobi. The bank’s asset value has hit an impressive Sh2 trillion. PHOTO/KCB.

African Regulator of the Year

  • Joint-Winners: Ethiopian Customs Commission, Nigerian Upstream Petroleum Regulatory Commission.
  • Runner-up: Engineers Board of Kenya.

Export-Import & Investment Promotion Agency of the Year

  • Winner: Ghana Export Promotion Authority.
  • Runner-up: Center for Investment Promotion of Côte d’Ivoire.

Central Bank Governor of the Year

  • Winner: Olayemi Cardoso, Governor, Central Bank of Nigeria.
  • Runner-up: Ernest Addison, Governor, Bank of Ghana.

Trade & Investment Minister of the Year

  • Winner: Ebrahim Patel, Minister of Trade and Industry, South Africa.
  • Runner-up: Lucia Lipumbu, Minister of Industrialization and Trade, Namibia.

Business-Friendly Governor of the Year

  • Winner: Babajide Sanwo-Olu, Governor of Lagos State, Nigeria.
  • Runner-up: Adanech Abiebie, Mayor of Addis Ababa, Ethiopia.

African CEO of the Year

  • Winner: Alain Ebobissé, CEO, AFRICA 50.
  • Runner-up: Azola Mayekiso, CEO, National Housing Finance Corporation, South Africa.

Young Business Leader of the Year

  • Winner: Jesca Mhoja Nkwabi, CEO, KOM Group, Tanzania.
  • Runner-up: David Njuguna, CEO, National Housing Corporation, Kenya.

Africa CSR & Community Development Impact Award

  • Winner: Maroc Telecom.
  • Runner-up: MRS Oil Nigeria Plc.

African Brand of the Year

  • Winner: Ecobank Transnational Incorporated.
  • Runner-up: Britam Holdings, Kenya.

African Company of the Year

  • Joint-Winners: Mastercard Africa, Trade Kings Group, Zambia.
  • Runner-up: Bujagali Energy Limited.

African Industry Personality of the Year

  • Winner: Benedito Manuel, Director General, Catoca Mining, Angola.
  • Runner-up: Sékou Dramé, CEO, Sonatel Group, Senegal.

Africa Business Integrity Leader Award

  • Winner: Jean Preira, CEO, Development Bank of Seychelles.
  • Runner-up: Stanley Shanapinda, CEO, Telecom Namibia.

Lifetime Achievement Award

  • Winner: Segun Ogunsanya, Group CEO, Airtel Africa.
  • Runner-up: Mohamed Mansour, Chairman, Mansour Group, Egypt.

ABLA Special Awards:

African Economic Resilience and Growth Champion Award

  • James Alic Garang, Governor, Bank of South Sudan.

Special African Business Leadership Commendation Award

  • Joint-Winners: Mesfin Tasew Bekele, CEO, Ethiopian Airlines; Seinye Lulu-Briggs, Chairman, Moni Pulo Limited, Nigeria.

African Food Security Champion Award

  • Hanan Abdul-Wahab, CEO, National Buffer Stock Company, Ghana.

Special Industry Personality Commendation Award

  • Winner: TBA
KCB Kipande Road branch in Nairobi, Kenya. CEO Paul Russo’s recognition highlights his transformative impact on the lender and the broader East African business community. PHOTO/KCB.

Paul Russo’s recognition as African Business Leader of the Year highlights his significant contributions to the East African banking sector.

His visionary leadership and commitment to innovation and sustainability have not only strengthened KCB Group’s financial standing but also positively impacted socio-economic development in the region.

As the winners of the African Business Leadership Awards are celebrated, their achievements serve as a beacon of inspiration for the entire continent, demonstrating the power of leadership, resilience, and excellence in driving Africa’s growth and prosperity.

Looking Ahead: A Bright Future

Paul Russo’s recognition as African Business Leader of the Year by Africa Leadership Magazine underscores his transformative impact on KCB Group and the broader East African business community.

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His visionary leadership, commitment to innovation and sustainability, and dedication to socio-economic development have set a new standard for excellence in the banking sector.

As KCB Group continues to thrive under his guidance, Russo’s achievements serve as an inspiration for business leaders across the continent, highlighting the importance of strategic vision, resilience, and a relentless pursuit of positive change.

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Ms Dorah Nesoba is a Public Relations and Communications Specialist. Her contact: dorah.nesoba@gmail.com

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