Two of East Africa’s most prominent companies reshuffled their financial leadership on the same day. Risper Ohaga ended her tenure as Chief Financial Officer and Executive Director at East African Breweries PLC on 30 June 2026, and Justin Mollel stepped into the role effective 1 July 2026.
APA Apollo Group named Risper as its next Group Chief Executive Officer, a move that signals how keenly the insurance sector has been watching one of EABL’s most accomplished finance leaders.
Justin Mollel: The Man Who Takes the Chair
Mollel’s appointment as Executive Director and Group CFO at EABL completes a promotion that has been building across more than a decade inside the Diageo ecosystem. He brings over 15 years of finance and business leadership to the role, shaped by postings at Diageo Ireland, Guinness Ghana Breweries and Serengeti Breweries in Tanzania, where he led financial strategy, business planning and performance management across different market conditions. He holds a Master of Business Administration and a Bachelor of Commerce in Accounting from the University of Dar es Salaam, and carries both Certified Public Accountant status and membership of the National Board of Accountants and Auditors of Tanzania.
Mollel inherits a business that has just delivered one of its strongest half-year showings in years. For the half-year ended 31 December 2025, EABL reported profit after tax rising 38% year-on-year to Kshs 11.2 billion, driven by strong volume growth and reduced finance costs. Net sales rose 11% to Kshs 75.5 billion, supported by an 8% increase in total volumes across both beer and spirits categories, with the company attributing the growth to resilient consumer demand and strategic commercial execution. EABL CEO Jane Karuku described the results as reflecting the strength of the company’s portfolio and the agility of its teams in navigating a dynamic operating environment.
Net finance costs dropped 36.8% to Kshs 2.17 billion, aided by a Kshs 2.2 billion reduction in total debt, though foreign exchange gains declined to Kshs 97 million from Kshs 1.18 billion in the prior period. The board declared an interim dividend of Kshs 4.00 per share, up from Kshs 2.50 the previous year, signaling confidence in cash generation and future outlook. Liquidity also improved, with cash and cash equivalents rising by Kshs 5.5 billion to Kshs 17.7 billion, up from Kshs 12.2 billion in June 2025, while trade and other receivables grew 22% to Kshs 20.2 billion.
EABL faces ongoing challenges including illicit alcohol trade, shrinking disposable incomes and rising input costs, with management pointing to the need for stronger regulatory enforcement to protect the formal market. Mollel’s experience navigating complex, high-cost operating environments across three countries makes him a credible hand for the conditions ahead.
Risper Ohaga: Six Years That Reshaped the Business
Ohaga’s exit closed a chapter that ran through some of the most turbulent trading conditions EABL has faced. She marked the occasion with rare candour at her farewell ceremony.
“As the curtains close on six years and four months at EABL, I am filled with gratitude for a season that has built me, challenged me, stretched me and called out my leadership at an even higher level,” she said. “In this period, we have experienced a global pandemic that saw outlets close down completely for an extended period, unprecedented geopolitical tensions causing supply chain disruptions and cost inflation, shifts in tax policy that we had never imagined we would face and extreme pressure on consumer disposable incomes.”
She did not dwell on the difficulty. “Still, in that period, I have been overwhelmed by the human capacity to overcome and thrive in every situation, the power of teamwork and the beauty of excellence in marketing and how our teams have collectively turned that into value for all our stakeholders.”
The parting note she chose was personal rather than financial.
“As I bow out today, the most enduring memories I have are of the people and the teams and the magic we have been able to create together. The words of affirmation from different quarters, thoughtful gifts and kind wishes for a great future ahead leave me confident that my assignment is indeed complete and I am ready for the next adventure starting July.”
What Awaits Her at APA Apollo
The next adventure lands at a business moving fast. APA Apollo Group closed the year ended 31 December 2025 with total assets up 27% to Ksh 61 billion, insurance revenue growing 14% to Ksh 24.6 billion and profit before tax rising 37% to Ksh 2.85 billion. The life insurance subsidiary, APA Life Assurance, emerged as a particularly strong growth driver, with total assets jumping 69% to Ksh 28.7 billion and insurance revenue surging 50% to Ksh 4.35 billion.
APA Apollo is also in the process of acquiring two insurance companies in Tanzania, Meticulous General Insurance and Metro Tanzania Life Assurance Company, as it deepens its footprint in short and long term insurance outside Kenya. The group has also expanded its product range through a partnership with Hollard Health, launching an international medical cover targeting individuals, families and businesses, following Hollard International’s 20% stake acquisition in Apollo Investments.
Outgoing Group CEO Ashok Shah set the direction Ohaga inherits: “As we look ahead, our focus remains on scaling through innovation, deepening customer relationships, and leveraging technology and data to deliver smarter, more inclusive insurance solutions.”
Ohaga steps into that mandate with a financial record built across one of East Africa’s most closely watched listed companies and a reputation for steadiness under pressure. For APA Apollo, a business accelerating across Kenya, Uganda and Tanzania with ambitions that stretch further, that combination carries considerable weight.
