#5
DR. JOSHUA OIGARA
CHIEF EXECUTIVE, STANBIC BANK KENYA & SOUTH SUDAN
Today’s banking industry is hypercompetitive, driven by rapid technology changes, shifting consumer preferences, and intense competition from traditional banks and fintech. Success in this environment requires more than financial skill; It requires visionary leadership that balances profit and social impact, while fostering innovation and sustainability. Dr Joshua Oigara, Chief Executive of Stanbic Bank Kenya and South Sudan, embodies this leadership style. His belief that “the essence of banking is finding a balance between profitability and trust” guides his approach, focusing on lasting relationships with clients, employees, and investors. Under his direction, Stanbic has thrived by merging financial growth with a commitment to ethical leadership.
For Dr. Oigara, ethical leadership is not just a buzzword, but a deeply ingrained value shaped by his upbringing. Raised in rural Kisii by teacher-farmer parents, he learned the importance of hard work, discipline, and integrity early on. These foundational principles have guided him throughout his career, driving the growth and success of the organisations he has been tied to. Notably, he is credited as a key enabler of growth in the banking sector, with achievements such as leading a tier 1 regional bank to a trillion shilling asset base and catalysing bank and mobile money interoperability through innovative integrated products.
He has carried the same industriousness to Stanbic Bank Kenya and South Sudan where he currently holds the Chief Executive position.
In the first nine months of 2024, Stanbic Bank reported a KES 10.1 billion profit after tax, driven by execution of client focused strategy and calculated deposit mobilization. This is not merely a reflection of the bank’s financial health – it is a testament to the trust Dr. Oigara has built, even during economic turbulence.
“Our resilience, guided by a reimagined three-year growth strategy, has ensured we stay on track,” Dr. Oigara reflects, underscoring his ability to adapt and drive results in a rapidly evolving market. Under his leadership, the bank has balanced short-term gains with long-term vision, securing a leading position in an increasingly competitive environment.
This strategy clearly resonates with clients, as Global Finance recently named Stanbic Bank Kenya the Best Private Bank in Kenya. This prestigious award recognises the bank’s unwavering commitment to delivering its clients the highest banking standards and exceptional service.
Dr. Oigara’s leadership stands out for its human-centric approach, rooted in empathy, integrity, and a deep understanding of the bank’s social and economic contexts. In a year marked by significant economic challenges – such as inflation, currency volatility, and rising operational costs – Dr. Oigara has successfully kept Stanbic on course. His ability to navigate these pressures while remaining true to the bank’s core values showcases his strategic foresight and unwavering commitment to doing what is right.
Under his guidance, Stanbic Bank has made significant strides in Environmental, Social, and Governance (ESG) initiatives, prioritising long-term impact over short-term gains. Through partnerships with global organisations like Microsoft, American Tower Corporation and the Bill & Melinda Gates Foundation (BMGF), Dr. Oigara has spearheaded programs that are driving the digital, green and blue economy. His focus on inclusive growth is further reflected in his efforts to support SMEs, particularly those led by women and youth. The Bank’s partnership with BMGF for instance is expected to reach more than 400,000 women within the first three years, and scale to 3 million women over 5 years.
Further, by facilitating access to credit and enhancing capacity through collaborations with organisations such as German Corporation for International Cooperation (GIZ) and The U.S. African Development Foundation (USADF), Dr. Oigara is directly contributing to job creation, fostering entrepreneurial growth, and strengthening Kenya’s economic foundation.
A solid academic foundation, including a Bachelor of Commerce (BCom) degree from the University of Nairobi (UoN), a Master of Business Administration (MBA) degree from Edith Cowan University, and executive education from INSEAD and IMD (International Institute for Management Development), has laid the groundwork for Dr. Oigara’s leadership. His career journey – from PriecwaterhouseCoopers (PwC) to Bidco Africa, Bamburi Cement, and KCB Bank – demonstrates a consistent track record of growth and impact across multiple sectors. His ability to combine academic rigor with practical experience has been a key driver of his success in shaping the future of financial services in Africa.
Recognised as one of Africa’s Top 25 Youngest and Most Influential Economic Leaders and awarded Kenya’s Chief of the Order of the Burning Spear (CBS), Dr. Oigara’s leadership is defined by integrity, empathy, discipline as well as fidelity to empowering habits.
He believes true leadership is a journey that cannot be walked alone – it is about lifting others, creating opportunities, and making a lasting impact. His approach, rooted in collaboration, ensures growth is shared across the bank, its clients, and the broader economy. For Oigara, leadership is not just about success; it is about driving lasting change that empowers individuals and shapes a prosperous future for Africa.
AUTHOR: STANBIC BANK KENYA & SOUTH SUDAN
EDITOR: MARTIN O’NEIL
