Kenya-based Jamii Bora Bank Ltd.'s CEO Samuel Kimani is retiring after seven years at the bank to pursue other interests, the Daily Nation reported.
Deputy CEO Timothy Kabiru, who joined the bank's senior management in 2011, has been named CEO, the report said. Kabiru is also a board member and an executive director at the bank.
Kimani will continue as a member of the lender's board to ensure a smooth transition, the newspaper said.
The Kenyan lender will reportedly reveal a new strategic investor as part of its plans to accelerate growth.