Absa Bank Kenya has announced the resignation of its Managing Director and Chief Executive Officer, Abdi Mohamed, ending his three-year tenure at the lender. The resignation takes effect on June 30, 2026, as the bank begins the search for a substantive replacement.
The bank’s Board of Directors confirmed the development in a statement released on Monday, June 29. According to the board, Mohamed stepped down to pursue other career opportunities after serving the institution for more than three decades in different leadership positions.
Mohamed Ends 32-Year Banking Career
Absa said Mohamed leaves after a 32-year banking career that included senior leadership roles across the region. Before taking over as the Managing Director and CEO of Absa Bank Kenya, he served as the Managing Director of Absa Bank Tanzania.
“The Board of Directors of Absa Bank Kenya Plc hereby announces the resignation of Abdi Mohamed from the role of Managing Director and CEO, effective 30 June 2026, to pursue other career opportunities,” the statement said. The board thanked him for his contribution to the institution during his leadership.
Board Chairperson Mohamed Nyaoga credited Mohamed with strengthening the bank during a period of significant transformation. He said the outgoing CEO guided the lender through key milestones that improved resilience and accelerated business growth.
Board Highlights Achievements
According to Nyaoga, Mohamed’s leadership helped strengthen Absa Bank Kenya’s market position over the last three years. The board also noted that the bank’s share price doubled during his tenure.
“During his tenure, Mr. Mohamed has steered the Bank through defining moments that have not only enhanced organizational resilience but also created strong business growth,” Nyaoga said. He added that the institution benefited from Mohamed’s strategic direction throughout his time in office.
The board praised the outgoing CEO for providing stable leadership during a changing economic environment. It also wished him success as he prepares for the next stage of his professional career.
Yusuf Omari Takes Over in Acting Capacity
Absa Bank Kenya has appointed Chief Financial Officer Yusuf Omari as the Interim Managing Director and Chief Executive Officer. His appointment takes effect on July 1, 2026, subject to regulatory approvals.
The board said Omari will oversee the bank while it recruits a substantive CEO. Recruitment for the permanent position will run alongside the transition process.
“To ensure a smooth leadership transition, the Board has appointed Absa Bank Kenya’s Chief Financial Officer, Yusuf Omari, as Interim Managing Director and Chief Executive Officer,” Nyaoga said. The board expects the arrangement to guarantee continuity in the bank’s operations.
Experienced Banker Takes Charge
Omari brings more than 20 years of experience in finance and corporate leadership to the role. His background covers strategy, risk management, environmental, social and governance, as well as corporate governance.
The board expressed confidence that his experience will help maintain the bank’s growth momentum during the transition period. It also said his understanding of the institution positions him well to execute its strategic priorities.
“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.
Leadership Changes Continue Across Banking Sector
The latest leadership change comes months after Sidian Bank appointed John Okulo as its Managing Director and Chief Executive Officer. The appointment took effect on May 1, 2026, subject to regulatory approval.
Okulo joined Sidian Bank with more than 28 years of banking experience across regional and international institutions. He previously served in senior leadership positions at KCB Bank, NCBA Bank, and NC Bank Uganda.
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