Charles Machira appointed Acting RBA CEO as Nzomo Mutuku exits

Charles Machira appointed Acting RBA CEO as Nzomo Mutuku exits

Charles Machira is the new Acting CEO of the Retirement Benefits Authority following exit of Nzomo Mutuku.

Mr. Nzomo Mutuku’s term as Chief Executive Officer comes to an end on 30th June 2022, and he has proceeded on terminal leave. Mr. Mutuku has been with the Authority for 22 years and has served as Chief Executive from March 2017. During his term, he has overseen considerable growth in the retirement benefits sector.

-said RBA Board Chairman Victor Pratt in a statement to newsrooms.

In the interim, Mr. Charles Machira, the Chief Manager Supervision was appointed as the acting Chief Executive Officer, effective March 1, 2022.

Charles Machira Appointed as the Acting Chief Executive Officer

Mr. Machira has over 20 years of experience in the insurance and pension sectors and has served as the Managing Trustee of the Policy Holders Compensation Fund representing the Authority.  He holds Master of Science and Bachelor of Science degrees.

Also read: Pension Schemes: Is your Money safe?

All you need to know about outgoing RBA CEO Nzomo Mutuku

Nzomo Mutuku, MBS took over as RBA CEO on July 1 2018 having served as the Acting Chief Executive Officer of the Authority from May 1, 2017. Also read: Pensions Regulator confirms Nzomo Mutuku as CEO Prior to his appointment, Mr. Mutuku worked at the National Treasury as the Senior Advisor, Financial Sector and Acting Director, Financial and Sectoral Affairs Department working on policy matters relating to financial sector development including financial inclusion, efficiency, and stability.

Previously he was the Chief Manager, Research & Development at the Retirement Benefits Authority and has also worked in the Research Department of the Central Bank of Kenya.  

Also read: You can now use pension savings to purchase residential house

Mr. Mutuku holds a Master of Arts degree in Economics as well as a first-class honors Bachelor of Arts (Economics) degree from the University of Nairobi and a Certificate in Digital Money from Tufts University.

He has also undertaken training in pensions and financial markets in various countries including the UK and Canada and at Harvard University and the Wharton Business School in the United States. He has authored a number of papers on financial sector issues including “the Case for Consolidated Financial Sector Supervision in Kenya“ and “the Impact of the Global Financial Crisis on the Pensions Sector in Kenya” which are widely quoted in the region.

The Board of Directors is immensely grateful to Mr. Mutuku for his long service and wishes him success in his future endeavours. Also read: Kenya’s pension regulator, RBA, celebrates 20 years

-Victor Pratt, RBA CEO said.

Also read: How to Buy Residential House using pension savings

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