Absa Bank Appoints Former Safaricom M-PESA MD as CEO of Personal and Private Banking

Absa Bank has announced the appointment of outgoing Safaricom M-PESA Africa Managing Director Sitoyo Lopokoiyi as its Chief Executive Officer for Personal and Private Banking.

In a notice dated Wednesday, February 11, 2026, the bank stated that his appointment will take effect on April 1, 2026.

“Absa announces the appointment of Sitoyo Lopokoiyi as Chief Executive: Personal and Private Banking, effective 1 April 2026,” read the statement.

The announcement came hours after Safaricom confirmed that Lopokoiyi will leave the company on March 31, 2026.

According to Absa, the outgoing M-PESA Managing Director is a highly experienced industry leader who brings deep expertise in financial services, telecommunications, customer value propositions, and large-scale business transformation.

Absa Appoints Sitoyo Lopokoiyi as its CEO for Personal and Private Banking

Additionally, the bank stated that the appointment represents an important step in Absa’s ongoing focus on delivering integrated, customer-centric solutions across its Personal and Private Banking franchise, while exploring new growth opportunities.

Lopokoiyi 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.

Also Read: Safaricom M-PESA Managing Director Exits After 15 Years

With more than 12 years of experience in fintech, he has played a central role in scaling M-PESA into a continental powerhouse, serving over 56 million customers and more than 5 million businesses.

He was appointed to lead M-PESA Africa, a joint venture between Safaricom and Vodacom, with a mandate to expand the platform’s reach and relevance across African markets.

Roles Lopokoiyi Held During His 15 Year Tenure in Safaricom

Since joining Safaricom in 2011, Lopokoiyi has held several senior leadership roles, including Head of M-PESA Strategy and Business Development, and has led operations in Tanzania.

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.

Also Read: Ecobank Appoints Former Family Bank CEO Rebecca Mbithi as New Managing Director

The announcement comes just a week after Absa Group CEO Kenny Fihla visited Nairobi.

Fihla visited the city in early February 2026 for a three-day working trip, during which he engaged with government officials, including Treasury CS John Mbadi, regulators, business leaders, clients, and Absa staff.

The visit focused on Kenya’s economic outlook, public-private partnerships, SME growth, infrastructure, trade, and reinforcing Kenya’s position as a regional financial and trade hub. Absa also highlighted its investments in the region, including Ksh 4 billion in technology for East Africa.

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Absa Bank Headquarters in Westlands. PHOTO/NMG