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Metropolitan National Sacco  has replaced its long-serving chief executive officer Francis Ng’ang’a in changes made weeks after the Co-operative Bank moved in to save the troubled organisation.

Chairman Christopher Karanja said Ng’ang’a has retired and his place taken by Benson Mwangi,  who was the deputy CEO.

Mwangi’s position has now been given to Cyrus Kariamwere who has been serving as the head of buisness development. 

Ng’ang’a has served the society for 30 years since when it was a financial stable organisation known as Kiambu Teachers Sacco.

Karanja said Metropolitan National Sacco started the process to enhance service delivery to its members. 

The restructuring programme started on July 12, when the Sacco hired Co-operative Bank of Kenya to offer corporate advisory services through its subsidiary, Co-op Consultancy.

Karanja (pictured right with Vicent Marangu, director, Co-operatives banking division at Co-op Bank), said the board is in the process of reviewing and recruiting for other key senior management roles as part of the reorganisation.

Speaking while announcing the changes, he said the streamlining process is aimed at enhancing and strengthening operations of the Sacco and improving service delivery.

He said Ng’ang’a was instrumental in the growth of Metropolitan that saw it become one of the first regulated deposit-taking Saccos in the country. 

Track record

Karanja described Mwangi as an accomplished and experienced professional in financial and Sacco management. He said Mwangi’s expertise and solid track record will be critical as he drives the comprehensive transformation programme that the Sacco is presently undertaking.