Veteran Banker Frank Marangu Ireri Dies at 63, Leaves Lasting Legacy

Frank Marangu Ireri, the former Managing Director of Housing Finance, has died at 63. He passed away on Sunday, October 26, at Nairobi Hospital, where he had been receiving treatment. Ireri was celebrated for transforming one of Kenya’s oldest mortgage lenders into a modern, full-service financial institution.

Ireri took over Housing Finance in 2006, a time when the bank struggled to stay relevant. Known mainly for mortgage lending, it faced stiff competition from commercial banks and emerging digital players. He diversified the bank’s lending, created new business arms and strengthened its operations. By 2014, the bank had rebranded as HF Group, evolving into a dynamic financial services company. Under his leadership, HF expanded into retail banking, issued corporate bonds, and earned a reputation for boldness and innovation. Ireri quietly left in 2018 after taking medical leave for specialized treatment.

Beyond banking, Ireri made an impact in philanthropy and real estate. He chaired Habitat for Humanity Kenya, helping marginalized communities access housing. He also served as director at Centum Real Estate, where his leadership left a lasting mark. Colleagues praised his vision, mentorship and steady guidance.

Ireri’s career spanned multiple organizations, including Barclays Africa, Deloitte, Citibank, the Kenya Bankers’ Association and Flame Tree Group, where he served ahead of the company’s Nairobi Securities Exchange listing. Former KEMSA chairperson Irungu Nyakera credited Ireri with shaping his career, saying the banker’s trust and mentorship left a lasting impression. Celebrated hotelier Mohammed Hersi recalled Ireri’s ambition to train one million young Kenyans as skilled artisans, improving the quality of trades such as plumbing, masonry, and electrical work.

Ireri leaves behind his wife, Angie and children, Lian Waithera and Ella Gathoni. A prayer service will be held at his home on October 28 and 29 from 5:00 p.m. to 7:00 p.m. The funeral service is set for Friday, October 31, at Karura Community Chapel, followed by cremation.

Frank Ireri’s legacy is defined by bold leadership, innovation, and mentorship. He transformed Kenya’s banking sector and inspired a generation of professionals. His vision and impact will be remembered for years to come.