HF Group Plc has announced changes to its leadership, appointing a new independent director at the holding company level and a new chairman at its banking subsidiary, HFC Limited, following regulatory approval.
In a notice on March 17, the board of HF Group said Elizabeth Gitau had been appointed as an Independent Non‑Executive Director, with effect from March 13, 2026.
The company said the move is intended to strengthen board oversight and add experience in people management and organizational leadership.
“The Board of Directors of HF Group Plc (the ‘Company’) is pleased to announce the appointment of Ms. Elizabeth Gitau as an Independent Non‑Executive Director of the Company with effect from 13th March 2026,” read part of the notice.
Elizabeth Gitau is a human resource management professional with experience across Kenya, Uganda, and South Africa. She has held senior leadership roles in sectors such as manufacturing, healthcare, and professional services. According to HF Group, her work has focused on organizational development, workforce planning, change management, and the development of effective workplace cultures.
The group said her background brings valuable insight into human capital strategy and governance at a time when institutions are placing increased focus on leadership effectiveness, accountability, and long‑term sustainability.
Gitau holds a Bachelor of Commerce degree, is a member of the Institute of Human Resource Management, and has completed several executive and leadership development programmes.
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New chair at HFC Limited
At the same time, HFC Limited, a subsidiary of HF Group, announced the appointment of Samuel Mwangi Makone as Chairman, following approval from the Central Bank of Kenya.
According to the notice, Makone is a seasoned banker with extensive experience in executive management and board leadership within the financial services sector.
He previously served as Group Managing Director and Chief Executive Officer of HF Group and has more than 15 years of experience in banking, insurance, and investment.
“Mr. Makone is a seasoned career banker, having an extensive record of executive leadership in the banking industry,” the notice said.
HFC said Makone’s familiarity with the group, together with his background in strategic leadership and financial services regulation, positions him well to guide the subsidiary at the board level.
He holds a Bachelor of Science degree in Agricultural Engineering from the University of Nairobi and has completed several executive management and leadership programmes.
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About HF Group and HFC Limited
HF Group Plc is the parent company that guides the group’s businesses and sets overall strategy, while HFC Limited is its main banking arm, serving customers through loans, mortgages, and other financial services.
The recent leadership appointments come as the group continues to stabilise after several years of restructuring aimed at strengthening its finances and leadership.
In 2025, the company boosted its capital through a successful rights issue, returned to mid‑tier bank status, and recorded a strong rebound in profits, aided by improved cost control and more diverse income streams.
The group has also been expanding beyond mortgages into business banking, digital services, and other fee‑based products. As part of these broader reforms, HF Group received approval from the Capital Markets Authority in December 2025 to issue and list 94.2 million new shares under its Employee Share Ownership Plan, allowing eligible staff to hold shares through trustees.
“This is to inform our shareholders and the general public that on November 27th 2025, the Capital Markets Authority granted approval for the issuance and listing of 94,274,401 ordinary shares of HF Group Plc (the “Company”) at par value of KES 5.00 to the Trustees of the HF Group Plc Employee Share Ownership Plan (“ESOP”),” said HF Group.
