Charles Machira confirmed as RBA CEO

Charles Machira confirmed as RBA CEO

Charles Machira has been confirmed as the new CEO of the Retirement Benefits Authority after acting in the position since March 1, 2022.

His appointment by The RBA board took effect on December 1, 2022.

Prior to his appointment, Mr. Charles Machira was the Chief Manager of Supervision.

The Retirement Benefits Authority’s Board of Directors has appointed Mr. Charles Machira as the Chief Executive Officer. The board said Mr. Machira emerged a successful candidate during the recently concluded interviews. His appointment takes effect from 1st December 2022- reads a communique from the RBA Board.

Charles Machira confirmed as RBA 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.

Mr. Machira takes over from the later Nzomo Mutuku who died in the last month of his reign in office.

Also read: Pension Schemes: Is your Money safe?

All you need to know about former 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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