Former Transport CS James Macharia Lands New Role at Sidian Bank

The Kenya Times ~ Trending, Breaking News and Videos

Former Transport CS James Macharia Lands New Role at Sidian Bank

Former Roads and Transport Cabinet Secretary (CS) James Macharia has been appointed the new Chairman of Sidian Bank.

Macharia takes over from Centum Investments CEO James Mworia, who has held the position for more than a decade since 2014.

The bank said Mworia will remain on the Sidian Bank board.

Former Health and Roads CS James Macharia Appointed Sidian Bank Chairman

While handing over the role on Wednesday, October 22, Mworia stated, “It has been my great honor and privilege to hand over the chairmanship of the Board of Sidian Bank to Mr. James Macharia.”

“Please join me in congratulating James Macharia and wishing him every success and God’s blessings as he stewards Sidian Bank to the next level of growth.”

Mworia described James as a seasoned banker with over 30 years of experience, including eight years as CEO of NIC Bank, now part of the merged NCBA Group, and a further ten years of distinguished service in the Cabinet.

He added that the bank “could not ask for a more capable leader” to guide Sidian Bank into its next phase of growth.

“Having served as Chairman since 2014, I am proud of what we have accomplished together — transforming Sidian from a microfinance institution, K-Rep Bank, into a dynamic commercial bank that is now just shy of Ksh100 billion in assets and a leading SME bank. Over the last decade, the Bank has grown sixfold,” he said.

“I extend my heartfelt gratitude to the shareholders, Board, management, staff, and customers of Sidian Bank for their dedication and trust throughout this journey.”

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Professional Career of James Macharia

Macharia, who boasts extensive experience in accountancy, consultancy, financial management, and commercial banking, began his career at Deloitte’s Tax Consultancy Division in London before returning to Kenya in 1989.

He later joined Standard Chartered Bank in 1989, rising to the position of Financial Controller in 1994. He then moved to Zambia as Managing Director of the African Banking Corporation before being transferred to Tanzania in the same capacity.

In 2005, Macharia became Group Managing Director of NIC Bank, where he served until May 2013. Under his leadership, the bank expanded its footprint, establishing five subsidiary companies, including in Tanzania and Uganda.

Macharia joined public service in 2013 as Cabinet Secretary for Health, a position he held until 2015. In November 2015, he was appointed Cabinet Secretary for Roads and Transport following the suspension of Michael Kamau in March that year.

During his tenure, he oversaw the construction of several major infrastructure projects, including the multi-billion shilling Standard Gauge Railway (SGR) and the Ksh64 billion Nairobi Expressway, which connects Jomo Kenyatta International Airport (JKIA) to James Gichuru Road in Westlands.

He also spearheaded other key initiatives such as dam projects, the LAPSSET Corridor, and the rehabilitation of the Meter Gauge Railway.

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Education

Born in 1959 in Kigumo, Murang’a County, Macharia excelled academically, emerging top of his class in both “O” Levels and “A” Levels at Kagumo High School in Nyeri.

He holds a Bachelor of Commerce degree from the University of Nairobi, obtained in 1983, and a Master of Business Administration (MBA) from Henley Management College, UK.

Macharia was selected on merit by Deloitte & Touche to train as a Chartered Accountant at the Institute of Chartered Accountants in England and Wales (ICAEW) in London, UK. He is also a Certified Public Accountant (Kenya).

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This post Former Transport CS James Macharia Lands New Role at Sidian Bank first appeared on The Kenya Times ~ Trending, Breaking News and Videos and is written by Annah Nanjala Wekesa