Norman Ambunya

Results-driven financial services executive with 19 years hands-on experience in banking and microfinance environments. Proven ability to direct financial and business operations of retail, SME and corporate lending institutions. Able to produce increases in revenue and cultivate strong customer relationships to ensure repeat or referred business and achieve revenue targets. Skilled in reorganizing operations and departments. Proficient in short and long-term strategy development. Creative and innovative decision-maker with history of quick organizational change and refocus. Extensive experience in staff and resource management.

I was appointed MD at Spire bank in 2018 when the financial markets and the economy were experiencing the worse of times. The bank continued to operate with the economic challenges.

• Drew up a turnaround business model implementable over a three-year period for the Bank driven by a new strategic direction (SACCO banking).
• Cut down Operating losses before tax by 53% from KES. 1.6 billion to KES. 746 million in the financial year ending December 2018 (within six months of taking over).
• Improved loan collections thereby returning an after-tax profit of KES. 106.2 million during the first quarter ended 31st March 2019 (after tax profit rose by more than 100% from a loss of Ksh.265.1 million over the same period the previous year.
• Led the Bank in the direction of shedding its historical years’ stagnant performance and firmly put it on course to an upward trend into profitability.

Left the bank when the prerequisite capitalisation expected from shareholders did not materialise due to the shareholders liquidity constraints making the implementation of the business model impossible and thereby compromising the bank’s financial sustainability.

I was appointed CEO at Select Credit in 2020 during the COVID-19 pandemic. Nevertheless;

• Launched "A Flexi-loan" product allowing members to use their mobile phones to conduct business and immediately recorded the highest ever month loan disbursement
• Helped fundraise an initial US$1.5 million debt capital
• Improved operations and staff discipline significantly

Member, Institute of Certified Public Accountants of Kenya (ICPAK)