The Co-operative University of Kenya (CUK) has nominated Co-operative Bank Group Managing Director, Gideon Muriuki for the conferment of the Doctor of Humane Letters (Honoris Causa).
According to the varsity, the conferment is in recognition of Muriuki’s distinguished career in the banking industry.
“…immense contribution to the co-operative sector, exemplary service to the nation, successful turnaround and great expansion of the Co-operative Bank of Kenya,” stated the varsity.
Muriuki was also nominated because of his great leadership during Covid-19 pandemic by offering critical relief and support to over 15 million members of the co-operative movement in Kenya and outstanding contribution to the development of rural finance in Africa.
The conferment of the Doctor of Humane Letters is scheduled to take place during the sixth Graduation Ceremony of the university which will be held on Friday at the main campus in Karen.
Last year, Muriuki was named the best Chief Executive Officer in the banking industry in Africa.
It was in recognition of the Bank’s decision to pay dividends to its 15 million shareholders during the Covid-19 pandemic.
Through a statement, the bank confirmed that Europe, Middle East, Africa (EMEA) Finance, the organizers of the African Banking Awards, had named Muriuki for leading the bank to great heights, with the bank recording commendable profits in recent years.
“Muriuki was recognized for the bold decision to sustain the payment of dividends to shareholders despite Covid-19, which offered a critical relief and most timely support to the over 15-million-member Cooperative movement,” read the statement.
Muriuki was also recognized for his leadership during the global pandemic, with the award organizers stating that many of the bank’s clients and the staff benefited from his remarkable leadership during the difficult financial period.
In addition, the award recognized the decision by the lender’s CEO not to push for staff retrenchment and opting to retain full staff complement during the pandemic.
Under the leadership of Muriuki, Co-op bank has seen great expansion, with the bank acquiring additional banks, further making a name for them in the banking industry in Africa.
The awards also recognized the successful acquisition and stabilization of Jamii Bora Bank (renamed Kingdom Bank) as it offered much-needed stability to the local financial sector.
