Raphael Lekolool: New Postbank Managing Director

By CW Writer

Mr. Raphael Lekolool is the new Managing Director of Postbank. His appointment was officially announced by the board of directors’ chairman, Mr. Ntoros Baari Ole Senteu.  This follows the retirement of Ms. Anne Karanja, who has been Postbank’s Managing Director for the last six years.

Joining Postbank as an assistant auditor, Ms. Karanja rose through the ranks to become its top executive. She served as the Managing Director for six years.  Established in 1910, Postbank’s mandate is to mobilize savings and encourage thrift by expanding its outreach and developing innovative products and services.

“My major focus will be putting up structures on the foundation that my predecessor has firmly laid,” Mr. Lekolool said as he formally received the bank’s functions from Ms.  Karanja in a ceremony   presided over by Mr. Senteu. In his new role as the Managing Director, he will be riding on a firm foundation of the bank’s strong customer base and digital platforms in pursuit of growing its market share, while executing its strategic plan.  As the financial world goes digital, one of Postbank’s priority areas is to exploit technology in order to ensure that its customers can handle most of their financial transactions online.

Mr. Lekolool has vast experience in banking, microfinance and insurance sectors. He is therefore well placed to drive the bank’s business to the next level while offering customer driven products. “I will focus on making Postbank the first port of call for Kenyans who want to access innovative savings products while earning handsome returns,” he said adding that the need to save for a rainy day should not be overemphasized.  Mr. Lekolool observed that this wise habit has become a necessity today, with the unfortunate onset of the Covid-19 pandemic globally.  Postbank is the only bank in Kenya which does not tax the interest earned on customers’ savings.

Prior to his appointment, Mr. Lekolool was the enterprise risk manager at UAP, Old Mutual and head of internal audit at Faulu Microfinance Bank. He is an MBA graduate of Cardiff Business School and holds a bachelor of science degree in banking from the University of Manchester.

“We appreciate the stewardship of Ms. Karanja which kept Postbank focused on inculcating a savings culture among Kenyans,” reflected Mr. Sentu. “We wish her well in her endeavours as she continues serving the nation in other capacities,” he added.