. in this regard, the contribution that mefmi makes in this region and the quality of training is an efficient responsiveness to demands for technical assistance rendered. one other aspect adding to the positive attributes of mefmi is the essence of mobilizing technical expertise within the region for delivery of the activities. this workshop can bear that testimony. i am informed that the resource persons who will facilitate the discussions are two experts in the area of human resources drawn from nairobi and dar es salaam. for the other capacity building programmes, a cadre of trained mefmi fellows is used as resource persons. i have been informed that some of the participants in this room attended the previous workshop held in kigali, rwanda in 2012. this provides excellent continuation to learning and implementation of best practices shared from these workshops. the executive director, distinguished participants, ladies and gentlemen : allow me now turn to the subject matter of this workshop. i note with satisfaction the approach of the mefmi secretariat in organizing this workshop. i am informed that the workshop will focus on the following objectives : bis central bankers ’ speeches • to share experiences on the key human resource management trends that are changing organizations ; • to expose participants to key strategic issues in human resource management ; • to discuss human resource management ’ s role and alignment as a strategic business partner ; • to learn about issues of ethics in human resource management ; • to strengthen networking amongst peers on the emerging human resource issues confronting the member states. looking at the above objectives, i can see the central theme being strategic human resource management and development. our organizations have not provided enough support for the human resource departments to carry out a strategic role. human resource is the driving force behind our organizations. strategic human resource management and development requires the recognition of heads of human resources as key partners in the management of the organization. there is therefore a need for hr to have a seat at the decision table in order to ensure alignment of hr strategy to the business strategy, this is key for business success and sustainability. judging from the volume of our capacity building activities, i am prompted to note that within the mefmi region, we tend to put a lot of emphasis on strengthening technical capacities in areas such as macroeconomic policy, bank supervision, debt management, among others and not much investment has been put in building capacity of the hr function. the missing link is the aspect of human resources role as a strategic business partner in engaging the rest of the business functions to drive value across

banking services reach especially to rural areas to help drive increased domestic savings. 5. in this regard, it is imperative for stakeholders to explore mechanisms to deliver financial services and push forward the financial inclusion frontiers in tandem with vision 2030. as a first step in pushing the initiative forward, the banking act was amended through the finance act 2009 permitting banks to use third parties ( agent banking ) to provide certain banking services on their behalf. i take this opportunity to urge banks to take advantage of the new provision. the agent banking model was designed to assist banks to lower their cost of offering banking services while at the same time improving their earnings as more kenyans are offered an opportunity to access financial services. 6. the kenyan banking sector continues to perform well despite the global financial turbulences and challenges on the domestic front. the sector ’ s total assets increased by 21 % from ksh. 1. 20 trillion in march 2009 to ksh. 1. 45 trillion in march 2010 whereas deposits increased by 23 % to ksh. 1. 14 trillion over the same period. profit before tax for the sector increased by 33 % from ksh. 12. 8 billion in the first quarter of 2009 to ksh. 17. 0 billion in the first quarter of 2010. this is remarkable, especially against the backdrop of domestic shocks and global financial crisis. 7. despite the impressive performance by banks, customers still have to contend with high borrowing costs. although many banks have responded to central bank ’ s plea of lowering interest rates, it is our expectation that all the banks should follow to support the economic growth via the support of expanded private sector credit at an affordable cost. on our part, we should now ask the real sector to access and negotiate credit in line with their potential investment. 8. finally, let me reiterate that central bank and indeed the government of kenya will continue to pursue policies that create a conducive environment for growth of the financial sector and encourage the provision of banking services to majority of the un - banked kenyan population at affordable cost. for us to be successful in this, we need to support strong institutional growth and remove underlying constraints that inhibit growth and financial reach. 9. with these few remarks ladies and gentlemen, it is now my honour and pleasure to declare the new brand of consolidated bank of kenya officially launched. thank you and god bless you all.