Absa Bank Kenya CEO Abdi Mohamed Steps Down After Three Decades of Service

By Our Reporter Maurice Momanyi

Absa Bank Kenya has announced a leadership transition following the resignation of its Managing Director and Chief Executive Officer, Abdi Mohamed, who will leave the position effective June 30, 2026, after a 32-year career with the banking group.
Mohamed’s departure brings to a close a long career during which he held several senior leadership positions, including Managing Director of Absa Bank Tanzania before taking over the helm of Absa Bank Kenya three years ago. During his tenure as CEO, the bank strengthened its financial performance, expanded its business and recorded significant shareholder value, with its share price doubling over the past three years.
Board Chairman Mohammed Nyaoga thanked Mohamed for his contribution to the institution, describing his leadership as instrumental in guiding the bank through key milestones while strengthening its resilience and long-term growth. He wished him success as he pursues new career opportunities.
To ensure continuity, the board has appointed the bank’s Chief Financial Officer, Yusuf Omari, as Interim Managing Director and Chief Executive Officer from July 1, 2026, pending regulatory approval. At the same time, the board has begun the process of recruiting a substantive CEO.
Omari brings more than 20 years of experience in finance, strategy, risk management, environmental, social and governance matters, as well as corporate governance. The board expressed confidence that his experience and understanding of the business will provide stable leadership as the bank continues implementing its strategic plans.
Reflecting on his departure, Mohamed said serving the Absa Group over the past three decades had been one of the greatest honours of his career. He expressed pride in the achievements made alongside employees, customers and the board in both Kenya and Tanzania, adding that he was leaving with confidence in the bank’s future leadership and direction. Mohamed will remain on gardening leave during his notice period and will support the transition to ensure a smooth handover.