#2
JOHN GACHORA
MANAGING DIRECTOR & CEO, NCBA GROUP
“We brought together two giants of the industry, and the result is a powerful entity, driven by innovation and grounded in human-centric values.” This quote perfectly encapsulates John Gachora’s leadership approach as the Managing Director (MD) and CEO of NCBA Group, whose vision led to one of the most successful mergers in Kenya’s financial history.
In 2019, Gachora spearheaded the transformative merger between NIC Bank and Commercial Bank of Africa (CBA), forming Kenya’s third-largest bank by assets, NCBA. Both institutions were already dominant forces in their respective areas – NIC excelled in asset finance, while CBA had carved out a strong presence in commercial and mobile banking. This merger was not just about combining two large entities; it was a strategic move that amplified their combined strengths, making it one of the most relevant consolidations in the sector. Gachora, having previously served as CEO of NIC Bank, was the ideal leader for this transition, bringing with him deep institutional knowledge and the trust of a loyal customer base.
Post-merger, Gachora immediately set to work revamping the bank’s marketing and communications strategy, ensuring the NCBA brand became synonymous with excellence and trust. His ‘all hands on deck’ approach engaged every stakeholder, making sure no one was left behind in the brand transformation. A standout example of this is the annual NCBA Golf Series, launched in 2021, which has since become a highly regarded event. The golf series reflects Gachora’s innovative leadership and his commitment to engaging with customers on multiple levels, from personal interests to professional needs.
While many competitors were downsizing and closing branches, Gachora took a bold stance by expanding NCBA’s physical presence. In 2023 alone, the bank opened eight new branches, bringing the total to 109 by March 2024. This aggressive expansion strategy is a testament to his customer-first philosophy, ensuring that NCBA remains accessible and closely connected to its clients, reinforcing his human-centric leadership style.
Further solidifying NCBA’s dominance under Gachora’s leadership, the bank ventured into the insurance sector with the acquisition of AIG Kenya Insurance Company in July 2024. This move marked NCBA’s bold entry into the bancassurance market, merging its vast distribution network with AIG Kenya’s insurance expertise. The acquisition positions NCBA as a formidable player in the regional insurance landscape, further expanding its service offering and demonstrating Gachora’s forward-thinking vision in delivering comprehensive financial solutions. AIG has since been rebranded to NCBA Insurance with the more than able Stella Njunge continuing as MD.
At the recently concluded NCBA Economic Forum, Gachora showcased his forward-thinking leadership and deep commitment to Kenya’s economic growth. By offering valuable insights into the country’s economic outlook and fiscal policies, Gachora led pivotal discussions on strategies for sustainable recovery and navigating the complexities of the financial landscape. His active role in these conversations not only underscores his national industry leadership but also highlights his passion for fostering a thriving Kenyan economy. Gachora’s efforts reflect his dedication to driving NCBA’s vision while shaping the financial sector’s path toward a prosperous 2025..
Gachora’s commitment to Environmental, Social, and Governance (ESG) tenets in business further underscores his holistic approach to leadership. NCBA’s focus on five impact clusters: minimising climate impact; supporting customers in transitioning to low-carbon models; enhancing community engagement; mitigating climate-related risks; and optimising corporate governance, illustrates his dedication to balancing profit with purpose. Under his steadfast leadership, NCBA has solidified its stance as a leader in ESG principles. This commitment is further exemplified by NCBA’s membership in the UN Global Compact, which holds the bank accountable for its sustainability goals. Notably, Gachora received widespread praise for his speech at the 79th United Nations General Assembly (UNGA) in New York, USA, in September 2024.
The CEO’s human-centric leadership shines through in his engagement with both internal teams and external stakeholders, with a notable focus on employee development. His commitment to fostering a workplace where every individual feels valued and empowered has been a key factor in NCBA’s success. By promoting open communication and cultivating a culture of inclusivity, he encourages independent yet thoughtful decision-making. This leadership style ensures that both employees and customers are integral to the bank’s growth strategy, with swift, decisive actions taken to meet evolving needs in real-time. Gachora is intentional in finding the best people to help him realise his vision, reducing activities being concentrated at the centre of power.
Gachora’s story began in the humble surroundings of Gatamaiyu Village in Kenya’s Central Province, where he was born in 1968 as the eighth of thirteen children. His parents, tea farmers with a modest number of goats and cows, instilled in him the values of hard work and determination.
After attending Kamahindu Primary School, he moved on to Alliance High School, where his academic promise became evident. He earned a Bachelor’s degree in Accounting from the University of Nairobi (UoN) before making a pivotal move to the United States. At the Massachusetts Institute of Technology (MIT), he achieved both a Bachelor’s and Master’s degree in Electrical Engineering and Computer Science, equipping him with a solid technical foundation. He later completed his Master of Business Administration (MBA) degree at The Wharton School, University of Pennsylvania, acquiring a global perspective on business, finance, and technology. This impressive academic journey provided Gachora with the skills and resilience needed to tackle the complexities of the banking industry, setting the stage for his unwavering determination to succeed.
Starting at Credit Suisse First Boston, Gachora served as Vice President for nearly a decade. During this time, he developed innovative financial models, including the first operational binomial-based ratings model for collateralized debt obligations (CDOs), demonstrating his ability to merge technical expertise with financial ingenuity.
His next role as MD at Banc of America Securities allowed him to further hone his leadership skills before returning to Africa to join Absa (formerly Barclays Africa). At Absa, Gachora’s focus on customer-centric solutions and corporate restructuring showcased his ability to lead with both empathy and efficiency. His pivotal role in the Barclays-Absa merger equipped him with the experience needed to tackle the NCBA merger years later.
Gachora’s leadership extends into broader societal contributions. For instance, his role as Chairman of the Kenya Bankers Association (KBA) since 2021 has seen him advocate for better banking practices, greater financial inclusion, and policies that benefit the entire financial ecosystem in Kenya. Through this position, he influences industry-wide decisions, demonstrating his ability to lead on a macro scale while keeping the individual at the heart of his vision. Gachora is equally at ease engaging with a wide range of national media, including bloggers, fielding questions on diverse topics. He confidently addresses issues such as maintaining integrity and fostering an entrepreneurial spirit, even in the face of challenging macroeconomic conditions like those currently affecting Kenya.
Outside of the corporate world, Gachora leads a well-balanced life. He is a father of three – two daughters and a son – and enjoys spending his free time with his family. Gachora also has a passion for nature, with a particular fondness for trees such as avocados, casuarinas, and eucalyptus. When it comes to cars, Gachora is a Mercedes enthusiast.
John Gachora has proven to be a CEO who combines business acumen with a deep understanding of human needs. His leadership at NCBA is a case study in effective, innovative, and human-centric management. This makes him our top choice for the title of Most Amazing Business Leader, and an exceptional CEO second to none.
AUTHOR: DR. HANNINGTONE GAYA
EDITOR: KAREN NDUKU
