Nairobi (KAAB TV) – In a significant leadership reshuffle at Sidian Bank PLC, former Cabinet Secretary James Wainaina Macharia has been appointed as Chairman of the bank’s Board of Directors, replacing James Mworia, who has held the chairmanship since 2014.
Mworia will continue to serve on the board, maintaining his governance role even as the leadership transitions.
The bank also announced the appointment of two distinguished professionals to its board: Paul Gachanja (Associate Professor of Economics and Registrar – Administration & Finance at Kenyatta University) and Apollo Ong’ara (Managing Partner at global advisory firm Baker Tilly).
James Macharia brings to Sidian Bank a compelling blend of private‐sector banking and public service experience.
He began his career at the London office of Deloitte & Touche in the tax consultancy division, then returned to Kenya in 1989.
On return he joined Standard Chartered Bank and, in 1994, became Financial Controller; he subsequently moved to the operations of African Banking Corporation (ABC) in Zambia and then Tanzania, eventually rising to Managing Director of those operations.
In 2005 he was appointed Group Managing Director of NIC Bank Group (now part of NCBA Group).
During his tenure he oversaw the bank’s regional expansion into Tanzania and Uganda, making NIC a more prominent regional player.
In 2013, Macharia entered public service under President Uhuru Kenyatta. He served as Cabinet Secretary for Health, and subsequently for Transport and Infrastructure (including Housing & Urban Development and Public Works).
His educational credentials include a Bachelor of Commerce degree from University of Nairobi (1983) and an MBA from Henley Management College in the UK.
He is also a Certified Public Accountant (CPA) in Kenya and a Chartered Accountant with the Institute of Chartered Accountants in England & Wales.
Born in 1959 in Kigumo, Murang’a County, Macharia attended Kagumo High School where he performed strongly in both O-Level and A-Level.
The appointment signals a strategic move by Sidian Bank’s shareholders and board to leverage Macharia’s deep banking and governance track‐record as they chart a growth path for the institution.
The board overhaul comes in the wake of a sale of majority shares by Centum Investment Company Plc (the former 64 % shareholder) which triggered the need for refreshed leadership and oversight.
James Mworia, outgoing chairman, remarked that the bank has “laid the foundation for sustainable growth” and expressed confidence in Macharia’s ability to lead the next phase.
Macharia, in turn, stated that he is “joining Sidian Bank at a very exciting growth phase of the business” and looks forward to a “transformational journey ahead”.