Here’s why EMEA Finance named Kenyan banking executive Gideon Muriuki Africa’s best banking CEO

Gideon Muriuki, a Kenyan businessman and group managing director of Co-operative Bank of Kenya, has emerged as Africa’s best banking CEO for the 2021 year.

“Dr. Muriuki was recognized for the bold decision to sustain the payment of dividends to shareholders despite COVID-19, which offered a critical relief and most timely support to the over 15 million-member Cooperative movement,” the Tuko news platform reported the bank as saying.

The banker was presented the award at the 2021 African Banking Awards convened by EMEA Finance, a London-based publisher of premium financial analysis focused on Europe, the Middle East and Africa.

According to the publisher, Muriuki’s ability to address challenges facing his business arising from the COVID-19 pandemic and his successful acquisition and stabilization of Jamii Bora Bank (now Kingdom Bank) contributed to his win.

Co-operative Bank of Kenya

Co-operative Bank of Kenya is a licensed commercial bank in Kenya that serves the banking needs of individuals, small businesses and large corporations, with a core focus on the needs of cooperative societies in Kenya.

Muriuki, who became the bank’s CEO in 2001, holds a two-percent stake in the bank, which amounts to 117,471,300 ordinary shares.

In 2020, Muriuki earned a KSh 260.3-million ($2.34 million) bonus for his exemplary performance in protecting shareholders’ returns during the early days of the COVID-19 pandemic.

As of the time of writing, Coop shares were trading at Ksh12.50 ($0.11) on the Nairobi Stock Exchange. This pegs the value of his stocks at Ksh 1.47 billion ($13.2 million).