Ecobank Kenya Appoints Risper Alaro, Women Now Hold 56% of Board Seats

Ecobank Kenya has appointed Centum Investment Company’s Group Finance Director, Risper Alaro, to its board, bringing women’s representation to five of the lender’s nine board seats — about 56%.

The appointment, announced on Thursday, October 29, followed approval by the Central Bank of Kenya (CBK). It adds a senior finance executive with experience in investment management and corporate governance to the bank’s board as it pursues its growth plans in Kenya.

Alaro has more than 25 years of leadership experience and currently oversees financial management at Centum Investment Company PLC. Her work includes supporting investment decisions, monitoring business performance and guiding the group’s financial strategy.

Ecobank Kenya said her experience would contribute to the board’s oversight as the lender develops its business.

The appointment also marks a notable change in the composition of the bank’s board. With five women among nine directors, women now hold a majority of the seats. The figure is approximately 55.6%, conventionally rounded to 56%.

Alaro brings experience across finance and governance

Alaro joined Centum as Group Finance Director in March 2022, according to the investment company’s management profile.

Her experience extends beyond executive finance. She serves on the boards of the Nairobi Securities Exchange and Kenya Climate Ventures. She has also served on the boards of Bank of Kigali and Population Services Kenya, giving her exposure to financial services, capital markets and the non-profit sector.

She is a Fellow of the Association of Chartered Certified Accountants and a member of the Institute of Certified Public Accountants of Kenya. She also holds a Master of Business Administration from USIU-Africa and a Bachelor of Business Management degree from Moi University.

Her new role is non-executive, meaning she will contribute to board oversight rather than manage the bank’s daily operations. The appointment places her among the directors responsible for scrutinising strategy, performance and governance.

A year of leadership changes at Ecobank Kenya

Alaro’s appointment follows other changes at the lender this year.

Rebecca Mbithi became Ecobank Kenya’s managing director in February 2026, succeeding Josephine Anan-Ankomah, who moved her focus to her regional responsibilities within Ecobank Group.

The bank also appointed business leader Flora Mutahi to its board in June, according to reports on the appointment.

These changes have increased the visibility of women in the bank’s senior leadership and boardroom. However, representation alone does not show how much influence individual directors have over decisions or how effectively a board performs its duties.

The practical test will be whether the board provides strong oversight, challenges management where necessary and helps the bank deliver on its strategy while protecting customers and shareholders.

What the appointment means for board diversity

Having women occupy more than half of a board’s seats is a significant milestone in representation. It is also a measurable change in the composition of the institution’s leadership.

But the number should be viewed alongside other measures of governance, including directors’ independence, the quality of board deliberations, risk oversight and the bank’s performance.

Ecobank Kenya has presented Alaro’s appointment as a way to strengthen the experience available to its board as it pursues growth. Her background in finance and investment management is directly relevant to that responsibility.

For now, the appointment gives the lender a board in which women hold a majority of seats. Whether that representation translates into better oversight and stronger business outcomes will depend on the work of the board as a whole.

About the Author

Maureen Onyango is a journalist passionate about storytelling, life coaching and spiritual lessons. She studied at the Kenya Institute of Management and enjoys telling stories that inform, inspire and empower communities.