Absa Bank Kenya Managing Director and Chief Executive Officer Abdi Mohamed will step down from the role effective 30 June 2026.
The bank’s Board announced Monday that Mohamed is leaving to pursue other career opportunities after serving as CEO for the past three years. He previously held several senior leadership positions within the Absa Group, including Managing Director of Absa Bank Tanzania.
The Board has appointed Chief Financial Officer Yusuf Omari as Interim Managing Director and CEO from 1 July 2026, subject to regulatory approvals.
The executive transition comes at a significant time for the lender. Absa Group is currently seeking to increase its ownership in Absa Bank Kenya from 68.5% to 85% through a Sh31 billion share acquisition offer. The offer is currently open to shareholders and is expected to close in August.
During Mohamed’s tenure, Absa Bank Kenya strengthened its financial performance while accelerating investments in digital transformation and expanding beyond traditional lending.
Absa Bank Kenya Board Chairman Mohammed Nyaoga thanked Mohamed for his contribution to the bank over the years.
“The board and management of Absa Bank Kenya appreciate Mr. Mohamed for his leadership, diligence, outstanding service and contribution to Absa and wishes him the best in his future endeavours.”
The Board said Omari’s extensive experience in finance, strategy, risk management, ESG and corporate governance positions him well to lead the bank during the transition.
“The Board is fully committed to supporting Mr. Omari and is confident in his ability to provide strong, steady, and effective leadership during this period of transition. We believe his extensive experience and deep understanding of the business will ensure that the Bank remains focused on executing its strategy, delivering value to stakeholders, and sustaining its growth trajectory,” Nyaoga said.
Commenting on his departure, Mohamed said serving Absa had been one of the defining experiences of his professional life.
“Serving Absa for the past three decades has been one of the greatest privileges of my professional life. I have had the opportunity to work alongside exceptional colleagues, supportive boards, and valued customers across different markets, including Kenya and Tanzania.”
He said he was proud of what the team had achieved during the past three years and expressed confidence in the bank’s future under its existing leadership.
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