Absa Bank Kenya has appointed Abdi Mohamed as its new Chief Executive Officer (CEO) after receiving regulatory approval from the Central Bank of Kenya.
Mohamed takes over from Yusuf Omari, who has been serving in this capacity on an interim basis.
He will join from Absa’s Tanzania subsidiary, where he has been serving in the same role.
The lender’s board chairman, Charles Muchene, confirmed that Mohamed’s tenure will begin effective May 1, 2023.
“The Board is pleased to welcome Abdi back home, particularly at a time when the banking industry is experiencing increased digitalization, innovation, and significant shifts in demography and consumer behaviour,” Munene said in a statement.
“Within this context, Abdi will steer the Bank’s next strategic horizon where we seek to accelerate our shared growth agenda as an inclusive brand that is a force for good in our communities.”
Omari will resume his role as Chief Financial Officer (CFO).
Similarly, Moses Muthui, who has been serving as interim CFO, will take up his previous position as the bank’s Chief Strategy Officer and Financial Director for Corporate and Investment Banking.
“It is a great honour and privilege to be asked to lead the next phase of growth and transformation in Absa Kenya,” Mohamed said.
“We will remain focused on delivering value to our customers, shareholders and communities while collaborating with all stakeholders towards the sustainable growth and development of our economy,” he added.
“Personally, I have been on a long and rewarding career journey with Absa Group in Kenya and internationally, and it is exciting to be back to Absa Kenya where my banking career started.”