Veteran banker James Macharia takes over as Chairman of Sidian Bank

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James Macharia, a veteran banker and former cabinet secretary, has taken over as Chairman of Sidian Bank in a revamp that has seen three new members join the lender’s board of directors. Mr. Macharia, who has had a distinguished career of over 42 years both in the private and public sectors, takes over from outgoing chairman Dr. James Mworia, the Centum Investment Company Group CEO. The Centum CEO will step down as chairman but remain on the Sidian Bank board.

“It has been a great honour to serve as Chairman of Sidian Bank since 2014, a period during which we successfully transitioned from K-REP Bank to Sidian Bank and strengthened the institution’s foundation for sustainable growth. I am immensely proud of the progress the bank has made under the stewardship of a dedicated management team and staff, and of the continued trust of our customers and shareholders. I wish the new Chairman, Mr. Macharia, and the Board every success as they lead Sidian into its next phase of growth and transformation.” said Dr. Mworia.

The Nairobi Securities Exchange-listed Centum is among top shareholders of Sidian Bank.

Sidian has also tapped into the diverse expertise of three other appointees – Prof. Paul Gachanja, Apollo Ong’ara and Madhav Bhandari, who have joined the Sidian Bank board as part of a strategic reorganization aimed at steering the lender’s transformation into a leading player in the Kenyan banking market.

“I’m happy to be joining Sidian Bank at a very exciting growth phase of the business. I thank my predecessors for a job well done, as I look forward to an exciting and transformational journey ahead,” said Mr. Macharia

Mr. Macharia has demonstrated extensive expertise and held senior-level responsibilities across a broad range of areas, including accountancy, consultancy, financial management, merchant and commercial banking, general management, and cabinet-level public service.”

He started his career in Deloitte’s Tax Consultancy Division as a Consultant Chartered Accountant in London, before returning to Kenya in 1989. His expansive banking career has seen him hold various capacities at Standard Chartered Bank, after which he joined the African Banking Corporation, rising to the position of Managing Director of the Zambian and Tanzania operations of the South African headquartered lender. Mr. Macharia was in 2005 appointed the Group Managing Director of the publicly listed NIC Bank Group. Under his stewardship, NIC Bank established subsidiary banks in both Tanzania and Uganda.

After a long career in the private sector, Mr. Macharia was appointed to the Cabinet in 2013. He served for ten years as Cabinet Secretary, Ministry of Health; Cabinet Secretary, Ministry of Transport, Infrastructure, Housing and Urban Development and Public Works; and also acted as Cabinet Secretary, Ministry of Water and Irrigation. In 2014, he received the Presidential Award, Elder of the Order of the Golden Heart [EGH].

Mr. Macharia holds a Bachelor of Commerce degree from the University of Nairobi; Master of Business Administration [MBA] from Henley Management College, UK; Certified Public Accountant, Kenya (CPA); and is also a Chartered Accountant, Institute of Chartered Accountants in England and Wales.

Prof. Paul Gachanja is an Associate Professor of Economics and the Current Registrar (Administration and Finance) at Kenyatta University, with over two decades experience in higher education leadership, policy-driven research, and academic mentorship.

Beyond academia, Prof. Gachanja is a distinguished economist with extensive expertise in Public-Private Partnerships (PPPs), demonstrated through both advanced professional training and hands-on leadership. His strategic leadership in structuring, negotiating, and managing PPPs underscores his standing as a trusted advisor in sustainable public-private collaboration.

He brings to the Sidian Bank Board a unique blend of strategic foresight, governance acumen, financial expertise, and a deep commitment to sustainable development, positioning him as a strong contributor to the Bank’s growth and corporate governance agenda.

Apollo Ong’ara is a seasoned professional with over 30 years of experience in the Financial Services sector. He has held leadership roles in KCB Bank Group, Family Bank, Barclays Bank Ghana & Kenya, CBA, Citibank and ABN AMRO Bank. He has extensive experience in Universal Banking, Risk Management and Corporate Finance. He has a strong track record in managing large and complex credit portfolios, mitigating risk, and driving sustainable business growth. Mr. Ong’ara is currently a Financial Consultant, advising corporates across East Africa on fundraising and debt restructuring.

Madhav Bhandari has been the Managing Partner of esteemed accounting firm, Baker Tilly, for over two decades. Baker Tilly is ranked among the top ten networks of independent accounting and business advisory firms in Kenya. The firm has established a strong presence in East Africa, with headquarters in Nairobi and branches in Uganda, Rwanda, and Somalia.