Alice Kilonzo–Zulu is a distinguished Kenyan economist and bank executive whose career spans over two decades in the financial sector. As the Managing Director of Ecobank Rwanda, she plays a pivotal role in shaping the banking landscape not only in Rwanda but across the East African region. Her career is a testament to her expertise in corporate banking and trade finance, marked by significant achievements that have propelled her to the forefront of African banking.
Early Life and Education
Born in Kenya around 1969, Alice Kilonzo–Zulu embarked on her academic journey with a focus on politics and international studies, earning a BA from the University of Warwick in the United Kingdom in 1992. Her interest in the intersection of economics and social issues led her to pursue further education at the University of Manchester, where she obtained a Master’s in Economics and Social Studies in 1993. These academic credentials laid a solid foundation for her future career in the banking and finance industry.
Professional Journey
Alice’s professional journey began in June 1995 when she joined Citibank Kenya as a relationship manager. Over the next six years, she excelled in this role, demonstrating a keen ability to manage and deepen client relationships, which is crucial in the banking sector. Her commitment and skill led to her promotion to senior relationship manager, where she focused on public sector enterprises.
By 2003, Alice had risen to the position of Vice President of Corporate Banking at Citibank Kenya. In this capacity, she was also an integral member of the Branch Credit Committee, playing a critical role in decision-making processes that impacted the bank’s credit policies and client relationships.
In January 2006, Alice took on a broader regional role as the Head of Trade Finance for Citibank’s customers in Kenya, Uganda, Tanzania, and Zambia. Her expertise in trade finance was pivotal during her tenure as a director, where she managed complex trade finance structures and solutions across multiple countries, enhancing the bank’s capacity to support cross-border trade in Africa.
Leadership at Ecobank Rwanda
In 2012, Alice’s career took a significant turn when she joined Ecobank Transnational Incorporated as a Senior Group Manager responsible for trade finance based in Nairobi. Her leadership and strategic thinking in this role were evident as she effectively coordinated trade finance operations across several countries, further establishing her reputation as a leader in African banking.
November 2016 marked a major milestone in Alice’s career when she was appointed as CEO and Managing Director of Ecobank Rwanda. In this leadership role, Alice has not only contributed to the growth and stability of Ecobank Rwanda but has also been influential in steering the bank towards contributing positively to Rwanda’s economic development. Her strategic initiatives and leadership have helped solidify Ecobank’s presence in Rwanda as a key player in the banking sector.
Board Roles and Personal Life
In addition to her executive responsibilities, Alice serves on the board of directors of Ecobank Rwanda, where she continues to influence corporate governance and strategic direction. Her role on the board underscores her comprehensive understanding of both operational and strategic facets of banking.
On a personal note, Alice is married to Eliya Zulu, a demographer, which complements her life in the world of economics and banking with insights into demographic trends and their implications for economic policy and development.
Legacy and Impact
Alice Kilonzo–Zulu’s impact on the banking industry in East Africa is profound. Through her leadership, she has not only advanced the operations of Ecobank Rwanda but has also been a role model for women in finance. Her journey illustrates the power of resilience, expertise, and strategic vision in navigating and succeeding in the complex world of international banking and finance.
Alice’s story is inspirational, reflecting a journey of continual learning, professional growth, and strategic leadership. As she continues to lead Ecobank Rwanda, her legacy as a transformative leader in African banking is still being written, influencing generations of bankers and economists across the continent and beyond.
