NAIROBI, Kenya – President William Ruto has appointed former Kenya Bankers Association (KBA) CEO Habil Olaka as the new Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund, commonly known as the Hustler Fund.
Olaka takes over from Irene Muthoni Metha Karimi, whose appointment has been revoked.
Karimi had been in the role since January 2023, when the Hustler Fund was launched, and was originally set to serve a three-year term.
The appointment, announced in a gazette notice dated February 21, grants Olaka a three-year term at the helm of the Fund’s advisory board.
“In exercise of the powers conferred by Regulation 10 (1) (a) of the Public Finance Management (Financial Inclusion Fund) Regulations, as read together with Section 51 (1) of the Interpretation and General Provisions Act, I, William Samoei Ruto, President of the Republic of Kenya and Commander-in-Chief of the Defence Forces, appoint— HABIL OLAKA (DR.) to be the Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund, for a period of three (3) years, with effect from February 21, 2025,” the gazette notice reads in part.
Olaka brings extensive experience in the financial sector, having led KBA for 14 years before stepping down in March 2024.
The KBA serves as the umbrella body for banking institutions licensed by the Central Bank of Kenya (CBK).
Separately, Education Cabinet Secretary Julius Ogamba has revoked the appointment of Dr. Christopher Langat as a board member of the Commission for University Education (CUE).
The revocation, also effective February 21, 2025, was made under Section 6 (1) (d) of the Universities Act, 2012. No replacement has been announced yet.
Both changes come amid ongoing restructuring within key government institutions.
