Nairobi: Following the finalisation of its refocused Group Pan-African Strategy, Absa Group has announced a number of executive leadership changes, reinforcing its ongoing commitment to enhanced strategic capability, customer-led growth, strong governance, succession planning, and deepened leadership bench strength across the organisation.
According to Kenya News Agency, Sitoyo Lopokoiyit has been appointed as Chief Executive: Personal and Private Banking, effective April 1, 2026. Lopokoiyit brings deep expertise in financial services, telecoms, customer value propositions and experience, and large-scale business transformation.
Lopokoiyit’s appointment represents an important step in Absa’s ongoing focus on delivering integrated, customer-centric solutions across its Personal and Private Banking franchise, while also exploring new growth opportunities. He was most recently the Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom, where he led the strategy and growth of Africa’s largest fintech platform.
Importantly, Lopokoiyit was appointed to lead M-PESA Africa, the joint venture between Safaricom and Vodacom, with a mandate to expand the platform’s reach and relevance across African markets. Since joining Safaricom in 2011, he held several senior leadership roles, including Head of M-PESA Strategy and Business Development, and has led operations in Tanzania.
Also, he has driven the launch of major innovations such as the M-PESA Super App, Fuliza, and strategic partnerships with global platforms including PayPal and AliPay. Lopokoiyit’s impact on financial inclusion has been recognised globally, including his induction into the 11: FS Hall of Fame.
According to Absa Group, the new Chief Executive is committed to empowering small businesses, advancing inclusive financial services, and accelerating the adoption of digital payments across the continent. Kenny Fihla, Group Chief Executive Officer of Absa Group, stated, ‘This appointment demonstrates Absa’s strategic focus on delivering integrated, customer-centric solutions across our Personal and Private Banking franchise while unlocking new growth opportunities.’
Further, Prabashni Naidoo will step into a newly reconstituted role that includes Legal, Compliance, and Group Secretariat as Group Chief Governance Officer, effective March 1, 2026. Naidoo brings extensive experience across audit, risk, regulatory engagement, and organisational assurance.
Rushdi Solomons has been promoted to Group Chief Internal Audit Officer, effective March 1, 2026. Solomons was the Managing Executive: Compliance Strategy, Regulatory Relations and Governance. Before joining Absa, he held roles as Partner: Deloitte Risk Advisory and Acting Business Executive: Auditor-General of SA.
Fatima Newman has been appointed Chief Compliance Officer, effective March 1, 2026. According to the Group’s statement, Newman is an Executive with 28 years’ experience in Risk, Compliance, Regulatory and Governance, and Financial Services. She led with an innovation and systems thinking approach.
Fihla, the Group CEO, commented that these appointments reflect both the depth of talent within Absa and the strength of its succession planning. He added that these changes enhance organisational resilience by bringing onboard expertise from outside the firm.
Additionally, Fihla highlighted that the appointments bring significant depth of experience across legal, regulatory, assurance, and control disciplines, supporting Absa’s commitment to a strong governance framework. ‘I am confident that our newly appointed leaders will play a significant role in driving the Group forward,’ the CEO said.
Source: Kenya News Agency
