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Treasury Cabinet Secretary, Prof Njuguna Ndung’u, appointed Jacqueline Muga to the board of the Development Bank of Kenya.
According to Gazette Notice No. 7035, the appointment, effective from May 31, will see Muga serve for a period of three years.
Jacqueline Muga brings a wealth of experience and expertise to her new role.
She has previously served on the board of the Kenya Export Promotion and Branding Agency (KEPROBA), where she made significant contributions to the agency's success.
Muga holds an impressive academic background, with a Master's degree in Business Administration (Finance) from the United States International University.
She also obtained a Bachelor of Arts degree in Economics & Sociology from Egerton University.
Additionally, she has post-graduate qualifications in corporate governance and strategic leadership.
She is the spouse of ICT CS Eliud Owalo and has served as a General Manager at Eliud & Associates Management Consultants.
Jacqueline also had a career at Co-operative Bank and the Ethics and Anti-Corruption Commission.
The Development Bank of Kenya is jointly owned by the government through the Kenya Development Corporation.
The bank started as a non-banking financial institution whose principal activity was to promote and develop commercially viable projects.
It commenced financing operations in 1964 and for a period of 3 decades as a Development Financial Institution (DFI).