Absa Bank Kenya managing director and chief executive Abdi Mohamed will resign effective 30 June 2026, ending a 32-year career with the Absa group that included three years leading the Kenyan subsidiary. Chief financial officer Yusuf Omari has been appointed Interim MD and CEO effective 1 July 2026, subject to regulatory approvals.
The bank said Mohamed was leaving to pursue other career opportunities. During his three-year tenure as chief executive, Absa Bank Kenya's share price doubled, according to the board's announcement.
A THREE-YEAR TENURE OF GROWTH
Mohamed's period in charge saw Absa Bank Kenya deliver strong shareholder returns, with the share price doubling over three years, according to the bank's disclosure. During his tenure the cost-to-income ratio fell from 41% in 2023 to 37% in 2025, and bancassurance, asset management, brokerage and custody grew from 1% of total revenue in 2024 to 5% in 2025.
His 32-year career with Absa spans multiple roles across the group, including leadership roles in Zambia, the United Kingdom and Tanzania, where he was managing director, before his appointment to lead the Kenyan business. His decision to step down to pursue other opportunities ends a 32-year career within the Absa group; I&M Group announced the same day that it had appointed him chief executive of I&M Bank Kenya, subject to Central Bank of Kenya approval.
OMARI TO STEP UP AS INTERIM CEO
The board appointed chief financial officer Yusuf Omari as Interim MD and CEO from 1 July 2026, subject to regulatory approvals.
Omari has been the bank's chief financial officer since 2009.
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