The Kenya Deposit Insurance Corporation Board of Directors has announced the appointment of Hellen Chepchumba Chepkwony as the new Chief Executive Officer.

She will serve the position for three years after acting in the position for the last four months.

Chepkwony had taken over from the long-serving CEO Mohamud A. Mohamud in January this year.

She is a distinguished economist and risk management professional with extensive public and private exposure.

KDIC is the country's resolution authority for banks, mandated to resolve banks' problems promptly, provide deposit insurance for customers of member institutions and generally ensure financial stability in the banking sector.

The corporation further protects depositors of banks licensed and regulated by the Central Bank of Kenya (CBK).