President William Ruto has appointed Dr. Habil Olaka as the new Non-Executive Chairperson of the Advisory Board of the Financial Inclusion Fund. Olaka, the former Chief Executive Officer of the Kenya Bankers Association (KBA), will serve a three-year term, effective February 21, 2025.
The appointment was announced through a gazette notice dated February 21, in which President Ruto exercised his powers under Regulation 10 (1) (a) of the Public Finance Management (Financial Inclusion Fund) Regulations and Section 51 (1) of the Interpretation and General Provisions Act.
Olaka takes over from Irene Muthoni Metha Karimi, whose appointment has been revoked. Karimi was appointed in January 2023 when President Ruto launched the Hustler Fund and was initially set to serve a three-year term.
Olaka brings extensive experience in the financial sector, having served as KBA’s CEO from 2010 until his retirement in March 2024. During his tenure, he played a significant role in shaping Kenya’s banking policies and promoting financial sector advocacy.
Meanwhile, Education Cabinet Secretary Julius Ogamba has revoked the appointment of Dr. Christopher Langat as a board member of the Commission for University Education (CUE). Langat’s removal was also announced through a gazette notice dated February 21, citing Section 6 (1) (d) of the Universities Act, 2012, and Section 51 (1) of the Interpretation and General Provisions Act.
These changes signal a continued restructuring within key government institutions as President Ruto’s administration pushes forward with its agenda. The appointment of Olaka is expected to bring a wealth of expertise to the Financial Inclusion Fund, which plays a critical role in advancing financial access for Kenyans, particularly small-scale entrepreneurs and underserved communities.
