Board Of Directors


Mr. Nyachae, is the Chairman of Kenya Development Corporation (KDC). He was appointed to the board on 5th November, 2021.

A great entrepreneur driven by passion, creativity and innovation for business and determination to succeed. He is a specialist in Strategy and Business Management with excellent leadership and managerial skills having served in numerous Boards with experience spanning close to three decades. Successfully he has served in the Boards of Sansora Group Ltd, Sansora Bakers and Confectioners Ltd, Associated Auto Centre Ltd, Kisii Bottlers Ltd, Swan Centre Ltd and Almasi Beverages. He also serves as a director at Cereal Growers Association in Kenya.

He was awarded Who’s Who Among Students in American Universities and Colleges prize. The Award is given to students with outstanding leadership skills in a number of disciplines that include community service. Michael has been instrumental in community service, sitting as a Board member in several educational institutes where he has been able to equip students with assertive and leadership skills that are vital for success in life.

Mr. Nyachae holds a Master of Business Administration degree in Strategic Management from Howard University, Washington DC and a Bachelor of Science Degree from State University of New York, U.S.A.


Ms. Norah Buyaki Ratemo is the Acting Director General and Board Member of Kenya Development Corporation (KDC). She was appointed on 12th December 2022.

Ms. Ratemo’s previous role at KDC was Director, Investments. She has over 13 years’ experience in Credit Risk Management having worked at Ecobank Kenya as a Credit Analyst, and before then, was engaged as Assistant Manager, Securities and Documentation with Sidian bank.

Her specialties are in Risk Management, Credit Assessment, Accounting and Finance. She is also well versed in Strategic Leadership, Project Management, Corporate Governance, Communication, Teamwork and Client relations. She currently serves on the Board of Kenya Wines Agencies as Member.

Ms. Ratemo holds a Master’s degree in Business Administration Finance option from Jomo Kenyatta University of Agriculture and Technology (JKUAT) and a Bachelor of Commerce (B.Com.) Accounting option.

She is a Certified Public Accountant, CPA (K) and a Member of the Institute of Certified Public Accountants (ICPAK) and Association of Women Accountants in Kenya.

Nora is into Philanthropy and has deep passion on issues on Climate Change, Green Energy and Sustainable Development.


Ms. Gathirwa was appointed a director to KDC Board on 17th May 2021.

She brings a wealth of experience drawn from the public services sector having served as a Senior Deputy Accountant General/Director of National Assets and Liabilities Management Investment in the Directorate of Public Investment and Portfolio Management in the National Treasury. Her specialization is in Accounts and Finance.

Ms Gathirwa holds a Masters of Business Administration degree from Moi University, a Bachelor of Commerce degree (Accounting Option) from the University of Nairobi and is a Certified Public Accountant (K).


Mr. Ilius was appointed a director to KDC Board on 17th May 2021.

He is an astute businessman with diversified experience specializing in hospitality and energy. He worked with Postal Corporation of Kenya, Marketing division responsible for developing and executing strategic marketing campaigns to promote the banks awareness and brand visibility using integrated communication channels. He is a board member at Imperial Dale (K) Ltd, Founder Director Elle Logistics Ltd and also served as Managing Director at OXX Ltd

Mr. Ilius holds a Bachelor of Business Administration degree from Kenya Methodist University, advance diploma in Business Administration and a diploma in Disaster Management and Conflict Resolution.


Ms Kerich was appointed a director to KDC Board on 17th May 2021

She has a wide experience spanning over 25 years in Public and Private Sector. She is the Deputy Project Coordinator (Strategy and Policy Guidance) with World Bank, Kenya, providing strategic guidance, insights and perspectives at senior leadership level. Previously she has served as Director Corporate Service with National Transport & Safety Authority, Manager Human Resources Services, Kenya Airport Authority and Human Resources Officer at Jomo Kenyatta International Airport.

She also serves at executive board committees, oversight committees and senior leadership teams working in complex multi-stakeholder environment with accountability the public sector the Government of Kenya, private corporations, NGOs and communities.

Ms Kerich, holds Masters degree in Public Policy and Management from Strathmore Business School, a Masters of Business Administration Strategic Management both from Strathmore Business School and Bachelor of Commerce degree from Catholic University of Eastern Africa (CUEA)



Mr. Mboche was appointed a director to KDC Board on 17th May 2021.

A highly qualified and experienced operations executive with more than 20 years’ experience across a variety of business sectors. He is focused and effective leader with proven ability to start-up companies creating operational control, cost rationalization programs, strategic planning and execution. He is the Operations and Strategic Planning Consultant at Capital Colours Creative Design Limited responsible for streamlining current operations to reduce costs and increase profitability.

He serves as a Director of Island Farm Limited. He has held senior executive positions, Director at Bawan Roses Limited, General Manager at Brookside Dairy Limited and Operations Analyst at Car & General Kenya Ltd.

Mr. Mboche holds Master of Business Administration degree and Bachelor of Science in Business Administration from Bryant College, Smithfield, Rhode Island.


Mr. Maosa was appointed a Director to KDC Board on 17th May 2021.

A successful career banker with more than 20 years of experience and exposure in the financial services sector. Currently, he is the Head of Business Performance and Planning at the National Bank of Kenya (NBK). Previously he served as the Head of Reporting at NBK rising through the ranks to the position of Head of Strategy and Projects and thereafter appointed to the position of Ag. Chief Finance Officer. Prior to joining NBK, he served in various management capacities at Standard Chartered Bank (SCB). Similarly, he has worked for KCB Group.

Mr. Maosa holds a Master of Business Administration degree in Strategic Management and a Bachelor of Arts degree in Economics both from the University of Nairobi. He holds a Higher Diploma in Computer Science from IMIS-UK, a Certified Public Accountant of Kenya, CPA (K) and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).



Mr. Kagika was appointed a Director to KDC Board on 1st August 2022.

 He is a certified Trustee having accumulated over thirty (30) years of progressive experience in leadership and management in the Public Service. His tour of duty has seen him work as a District Commissioner (DC), Chief Executive Officer of the Rent Tribunal, Administrator in the Ministry of Public Works and Housing, Social Secretary and Administrator at both State House and the Cabinet Office and Chief Executive Officer and Secretary of the Constitutional Power of Mercy Advisory Committee.

Mr. Kagika is the Pensions Secretary / Director of Pensions and also serves as a Board Member in; The Kenyatta National Hospital, The Public Service Superannuation Scheme and the Kenya National Entrepreneurs Savings Trust (KNEST).

He holds a Bachelors Degree in Public Administration, Master in Public Administration degree and an array of Diplomas and certifications in Management from both local and foreign institutions including Kenya School of Government (Kabete), Entrepreneurial Development Institute of India (India), East and Southern African Management Institute (ESAMI) Tanzania, Civil Defence Academy (Singapore) and Centre of Excellence for Stability Police Units (Italy).

In the year 2017, Mr. Kagika was honoured with the award of the Order of the Elder of Burning Spear (EBS) in recognition of his distinguished public service.


Mr. Gikonyo was appointed a Director to KDC Board on 16th June 2022

He is a specialist in Financial Analysis/Planning & Budgeting, Economic Analysis, Public Policy and Research Analysis and has trained in Public Private Partnerships (PPP) Queens University and Kenya School of Government.

Mr. Gikonyo is the Senior Finance Officer/Senior Principal Officer National Treasury – Ministry of Tourism and Wildlife and Director to the Oversight Board – Tourism Promotion Fund. He has previously worked as a senior economist in Narok County Government and Ministry of Planning and Devolution as well as a banker at Chase Bank.

Mr. Gikonyo holds a Master’s degree in Economics; Economic policy and Management and Bachelor degree in education; economics and statistics both from Kenyatta University.


Mrs. Grace Magunga is the Director Legal Services and Corporation Secretary.

She is the Legal advisor to the Corporation and has vast experience spanning over 25 years in Corporate & Commercial law, Property law, Employment law, Litigation & dispute Resolution and Governance. She has served as Company Secretary in various Board that include Industrial and Commercial Development Corporation (ICDC), Almasi Beverages Limited – Group of Companys, Funguo Investments Limited (FIL), Kenya National Trading Company (KNTC) Limited, Freshpick Processors (EPZ) Limited, Mountain Lodges Limited and Focus Container Freight Station Ltd.

Mrs. Magunga holds a Master of Science degree, Human Resource Management from Jomo Kenyatta University of Agriculture and Technology and a Bachelor of Law degree from the University of Nairobi. She has a Diploma in Legal Practice and is a Certified Public Secretary (CPS K).

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