Former Safaricom Executive Michael Mutiga Gets CBK Approval as Stanbic CEO

Former Safaricom executive Michael Mutiga has received Central Bank of Kenya approval to become the new Chief Executive Officer of Stanbic Bank Kenya.

Stanbic Bank Kenya had earlier announced Mutiga as its incoming CEO, with the appointment taking effect on August 1, 2026, subject to regulatory approval; CBK clearance now completes the regulatory process for his appointment.

Mutiga Takes Over at Stanbic Bank Kenya

Mutiga officially assumed the Stanbic Bank Kenya CEO role on August 1, 2026. He brings more than 20 years of leadership experience spanning banking, telecommunications, and digital financial services.

Stanbic Bank said his experience includes expertise in “strategy, growth, and transformation” as he takes charge of the lender.

“Michael brings over 20 years of leadership experience across banking, telecommunications and digital financial services, with expertise in strategy, growth and transformation,” the bank said.

The appointment follows a leadership transition at Stanbic Bank Kenya after the departure of Joshua Oigara earlier in 2026. Abraham Ongenge had been serving as acting CEO during the interim period.

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The bank said it was looking forward to Mutiga’s leadership as it continued creating “long-term value for our clients, people and stakeholders.”

From Safaricom to Stanbic

Before joining Stanbic, Mutiga served as Safaricom’s Chief Business Development and Strategy Officer, a position he took up in May 2022.

At Safaricom, he was involved in corporate strategy, partnerships, and asset optimisation during his tenure at the telecommunications company.

He left Safaricom in 2026 after about four years, paving the way for his return to mainstream banking.

Mutiga’s earlier career includes more than 15 years at Citi, where he held senior roles and rose to Managing Director and Head of Corporate Finance for Sub-Saharan Africa. He also previously worked at Barclays Bank in investment banking.

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His career has spanned banking, telecommunications and digital financial services, giving him experience across sectors that have increasingly converged around technology and financial services.

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Michael Mutiga, the newly appointed Stanbic Bank Kenya Chief Executive Officer. PHOTO/ HAPA KENYA.