Absa Bank Kenya Managing Director and Chief Executive Officer Abdi Mohamed has resigned from his position effective June 30, 2026, with the Board appointing Chief Financial Officer Yusuf Omari as interim CEO from July 1, 2026, subject to regulatory approvals.
In a statement, the Board of Directors said Abdi was leaving the bank to pursue other career opportunities and announced that it would begin the process of recruiting a substantive Managing Director and Chief Executive Officer.
“The Board of Directors of Absa Bank Kenya Plc ("Absa") hereby announces the resignation of Abdi Mohamed from the role of Managing Director and CEO, effective June 30, 2026, to pursue other career opportunities,” reads the statement.
Abdi leaves Absa Bank Kenya after a 32-year banking career, during which he held various leadership roles, including serving as CEO and Managing Director of Absa Bank Kenya for the last three years.
He took over as Managing Director and CEO in May 2023 after previously serving as Managing Director of Absa Bank Tanzania and Managing Executive for Retail and Business Banking for Absa’s Africa Regional Operations, where he oversaw operations across several African markets.
During his banking career, Abdi also held senior leadership positions within Absa Group, including Chief Operating Officer and Retail and Business Banking Director in both Kenya and Zambia.
The Board said his tenure helped strengthen the bank’s position and supported business growth.
“During his tenure, Mr Abdi Mohamed has steered the Bank through defining moments that have not only enhanced organisational resilience but also created strong business growth, leading to the doubling of the Absa Kenya share price over three years,” the Board said.
To oversee the transition, Absa Bank Kenya has appointed Yusuf Omari, the bank’s current Chief Financial Officer, as interim Managing Director and Chief Executive Officer effective July 1, 2026.
The Board said Yusuf is a highly accomplished executive with more than two decades of leadership experience spanning Finance, Strategy, Risk Management, ESG, and Corporate Governance.
The Board added that Yusuf’s experience and understanding of the business would support the bank as it continues implementing its plans.
“With his rich strategic acumen, strong leadership capabilities, and commitment to driving sustainable growth, he is well equipped to guide the Bank through this transition and ensure continued momentum in the delivery of its strategic priorities,” reads the statement.
The Board said it was confident that Yusuf would provide strong leadership during the transition period.
“The Board is fully committed to supporting Mr Yusuf Omari and is confident in his ability to provide strong, steady, and effective leadership during this period of transition. 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,” it said.
Absa Bank Kenya said it remains focused on continuing its strategy with support from its leadership team while delivering value to customers, employees and stakeholders.
“The Board thanks Mr Abdi Mohamed for his leadership, diligence, outstanding service and contribution to Absa, and wishes him the best in his future endeavours,” it said.
Comments
Sign in with Google to comment, reply, and like comments.
Continue with Google