Co-operative Bank of Kenya Group Managing Director Dr. Gideon Muriuki has been honored with the award of First Class Chief of the Order of the Burning Spear (CBS) decoration in this year’s roll of Presidential Honours and Awards.
The Award comes at a time when it has become widely acknowledged that successful economies of the future will in essence have to be inclusive in order to deliver the much-needed shared prosperity.
The award had the citation: “Dr. Gideon Muriuki has for the last 16 years consistently dedicated substantial resources to strengthen Kenya’s 14 million-member co-operative movement by way of capacity-building and consultancy that has built the competitiveness and stature of the movement to become a prolific mobiliser of savings and a reliable provider of affordable credit to millions of households in Kenya, thereby becoming the most successful co-operative movement in Africa.”
The role of cooperatives is expected to be enhanced after President Uhuru Kenyatta announced that coffee and other commodities will no longer be exported in their raw form but processed locally to ensure farmers and other value chain players earn more from the produce.
The bank says the Co-operative Model is proven as the most effective approach to deliver not only financial inclusion but also social stability.
Dr. Muriuki has in recent years received recognition for driving the co-operative model.
He was decorated with “Order of Grand Warrior” (OGW) in 2005 and “Moran of the Order of the Burning Spear” (MBS) in 2011 for the successful turnaround of the Co-operative Bank and service to the Nation.
The Coop Bank CEO was also honoured with “Chevalier de l’ordre National du Burkina Faso’ by the President of Burkina Faso for promotion of rural finance in Africa.
He is also a recipient of ‘Distinguished Leadership Award’ by Africa International University and an honorary ‘Doctorate of Philosophy (PhD) in Business Leadership by Kabarak University.
He was recognized as ‘CEO of the Year – Africa 2014’ in the International Banker Awards, with the citation; “…Expanding to other African markets, beginning with South Sudan, by way of joint ventures with co-operative societies in those countries is a futuristic business model that is likely to deliver inclusive growth, and a more equitable sharing of the benefits of the rising prosperity of African economies…”
In addition, the Co-operative Bank which is 65% owned by Kenya’s co-operative movement was named “Bank of the Year 2015 for Financial Inclusion”, in the Bankers Awards run by Financial Times of London. The bank beat a stiff challenge from over 50 entries from all over the world, reaffirming the Co-operative Model as the more sustainable approach for realizing shared prosperity.