Frank Marangu Ireri, one of Kenya’s most respected banking executives and the man credited with reshaping Housing Finance into a modern financial institution, has died aged 63.
Mr Ireri passed away on Sunday, October 26, at Nairobi Hospital, where he had been receiving treatment, according to family sources.
A quiet but influential figure in Kenya’s banking circles, Ireri earned a reputation for bold leadership and steady transformation. When he took over as Managing Director of Housing Finance in 2006, the lender was struggling to stay relevant in a competitive market dominated by commercial banks and rising digital challengers.
Under his watch, the institution reinvented itself. By 2014, it had rebranded to HF Group, branching into retail and corporate banking, issuing bonds, and expanding its lending model beyond traditional mortgages. The move turned the once-niche lender into a full-service financial firm.
Former colleagues and industry leaders have been quick to pay tribute.
Irungu Nyakera, the former Kenya Medical Supplies Authority (KEMSA) chairperson, said Ireri’s mentorship shaped his career.
“I was only 28 years old, but Frank believed in me and gave me a chance that changed my life,” Mr Nyakera said on X. “His trust and leadership left a lasting mark.”
Hotelier Mohammed Hersi, who worked with Ireri during his years at Housing Finance, remembered him as “a visionary who cared deeply about empowering others.”
“He once told me his dream was to train a million young Kenyans to become professional artisans — plumbers, masons, and electricians,” Hersi recalled. “He wanted to fix the gap in quality workmanship across the country.”
After stepping down from HF in 2018 due to health reasons, Ireri continued to contribute to Kenya’s development and housing sector. He served as chair of Habitat for Humanity Kenya, a non-profit organisation focused on affordable housing, and sat on the board of Centum Real Estate, where colleagues described him as “a steady presence whose leadership and kindness left an enduring impact.”
Ireri also held senior roles at Barclays Kenya, Citibank, Deloitte, and the Kenya Bankers Association, in addition to serving on the board of the Flame Tree Group during its listing on the Nairobi Securities Exchange.
He is survived by his wife, Angie, and their daughters, Lian Waithera and Ella Gathoni.
A prayer service will be held at his home on Tuesday and Wednesday, from 5:00 p.m. to 7:00 p.m. The funeral service is scheduled for Friday, October 31, at Karura Community Chapel, followed by cremation.
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