Kenya Deposit Insurance Corporation

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Overview

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The Kenya Deposit Insurance Corporation (KDIC) is a statutory institution established under the Kenya Deposit Insurance Act, 2012, to enhance financial stability by protecting depositors and promoting public confidence in the banking sector. It became operational in 2014, replacing the Deposit Protection Fund Board. KDIC provides deposit insurance to bank customers, mitigating losses in case of bank failures. It also acts as a receiver and liquidator for troubled financial institutions, ensuring orderly resolution. KDIC collaborates with the Central Bank of Kenya to uphold a stable and resilient financial system.

CEO: Hellen Chepchumba Chepkwony

Mrs. Hellen Chepchumba Chepkwony is an economist and risk management professional with over 20 years of experience in public and private sectors. She holds M.A and B.A degrees in Economics from the University of Nairobi and has worked at the National Treasury, Central Bank of Kenya, and KDIC.

Management Team

Hellen Chepchumba Chepkwony

CEO

Eunice Kitche-Oduor

Director; Legal and Board Secretary

Paul Manga

Director-Deposit Insurance and Bank Surveillance

David Irungu

Director – Resolutions

Mary Kiragu

Director-Internal Audit

Board of Governors

Hannah .W. Muriithi

Chairperson

Dr. Kamau Thugge

Member

CPA John Mbadi Ng’ongo

Member

Joseph Kiptoo Ng’etich

Member

Habil Okunda Olaka

Member

Anne Rimbaine Lengerded

Member

Hellen Chepchumba Chepkwony

CEO

Eunice Kitche-Oduor

Director; Legal and Board Secretary

Functions

  • Deposit Protection – Provides insurance coverage for bank deposits, ensuring depositors recover their funds up to the insured limit if a bank fails.
  • Risk Monitoring – Regularly assesses financial institutions to detect risks early and prevent potential banking crises.
  • Bank Resolution – Implements strategies like mergers, acquisitions, or restructuring to stabilize struggling banks and prevent systemic risks.
  • Receivership Management – Takes control of insolvent banks, managing their operations during the resolution process to protect depositors and creditors.
  • Liquidation of Banks – Oversees the orderly closure of failed banks, ensuring fair distribution of assets to creditors and affected depositors.
  • Policy and Regulation – Develops and enforces policies on deposit insurance and financial stability in collaboration with the Central Bank of Kenya (CBK).
  • Public Awareness & Education – Educates depositors and financial institutions about deposit insurance, rights, and responsibilities to enhance confidence in the banking sector.
  • Interagency Collaboration – Works with CBK and other financial sector regulators to maintain a sound banking environment and coordinate crisis management.
  • Compensation of Depositors – Ensures timely payout of insured deposits to customers of banks that have been placed under receivership or liquidation.
  • Legal Enforcement & Compliance – Ensures banks comply with KDIC regulations, taking legal action where necessary to protect depositors and the financial system.

Important Links

Address & Contacts

  • Kenya Deposit Insurance Corporation, 17th Floor UAP Old Mutual Towers, Upper hill
  • P.O. Box 45983-00100,Nairobi, Kenya.
  • customercare@kdic.go.ke
  • +254 709 043 000 | +254 020 667 7000