APA Apollo Group boss set for exit as board rings changes

Ashok Shah, Group CEO of APA Apollo Group, receives the CEO of the Year award at the 10th African Insurance Awards in Addis Ababa, Ethiopia. [Wilberforce Okwiri, Standard]

After an exceptional 50-year career in the insurance industry, Ashok Shah’s leadership at APA Apollo Group is now coming to an end.

This is after the APA Apollo Group, which is a leading financial services group in East Africa, announced this week a planned leadership transition at Apollo Investments Limited (AIL).

Mr Shah will now commence a structured transition from his role as Group CEO.

The board said it has carefully designed the succession process to ensure continuity, stability, and sustained momentum across the Group.

As part of this planned transition, the Board has appointed Ms Risper Ohaga to join the Group effective July 1, 2026, as Group CEO, following the completion of her tenure as chief financial officer and executive director at East African Breweries Plc on June 30, 2026.

 “Leading the APA Apollo Group over the past fifty years has been an extraordinary journey. Together with our teams, we have built a trusted, innovative, and resilient group of companies,” said Shah while reflecting on his tenure as outgoing Group CEO.

He added: “I am confident that the strong leadership in place will continue to build on this foundation and take the Group to even greater heights, creating lasting value for our customers, partners, and communities.”

Commenting on her appointment, Ms Ohaga said she is excited to take on the new role at APA Apollo Group, where each day presents an opportunity to make an impact on the lives of people across East Africa.

 “Ashok has built an extraordinary legacy of leadership and innovation, and I look forward to building on this strong foundation. I am particularly excited about the opportunities presented by the collaboration between APA Apollo and its key equity partners, Hollard International and Swiss Re, which will see us continue to drive innovation, offering market-leading solutions to our customers and enriching the experiences of our teams,” said Ms Ohaga.

She added: “I am committed to working with our teams to continue to drive growth, enhance customer value, and to ensure APA continues to lead with excellence across East Africa.”

Ms Ohaga brings extensive leadership expertise and a wealth of experience across the financial services and corporate sectors in Africa.

She previously held senior leadership roles in finance and audit at Barclays/Absa in Nairobi, Johannesburg, and Lusaka, and at KPMG East Africa.

Ms Ohaga currently serves as a Non-Executive Director within the APA Apollo Group and has chaired the Audit & Risk Committees of APA Insurance and APA Life Assurance, giving her a good understanding of the Group’s strategy, operations, people, and governance.

She holds a Bachelor of Commerce from the University of Nairobi and is a qualified accountant (CPAK).

Daniel Ndonye, chairman, AIL lauded Ashok’s leadership, saying it has left an indelible mark.

“Ashok’s leadership over five decades has left an indelible mark not only on APA Apollo Group, but on the insurance industry in Kenya and the wider region. His unwavering commitment to integrity, innovation, and inclusive growth has built APA into the strong and trusted institution it is today,” said Ndonye.

He added: “The Board has managed this transition deliberately and responsibly, with a clear focus on safeguarding continuity while positioning the Group for the future. Risper brings extensive executive experience, deep financial and strategic expertise, and a proven track record of leadership within leading regional companies. The Board is confident that under this next chapter of leadership, with Ashok continuing in strategic roles, APA Apollo will continue its expansion and strengthen its performance and deliver sustainable long-term growth.”