By Roxane Okeke
Absa Group Limited has appointed outgoing M-PESA Africa Managing Director Sitoyo Lopokoiyit as Chief Executive for Personal and Private Banking, effective April 1, 2026.
In a statement issued Tuesday, February 11, Absa board said the appointments reflect the depth of talent within the organisation and Absa’s commitment to building a resilient leadership pipeline.
Lopokoiyit joins the role as the first non-South African and brings on board extensive experience spanning financial services, telecommunications, customer value propositions and large-scale business transformation.
Absa said his appointment will help accelerate the delivery of integrated, customer-centric solutions while unlocking new growth opportunities within the Personal and Private Banking segment.
“This appointment represents an important step in Absa’s ongoing focus on delivering integrated, customer-centric solutions across its Personal and Private Banking franchise, while also exploring new growth opportunities,” the lender said.
With over 12 years of fintech experience, Lopokoiyit has overseen the expansion of M-PESA into a continental payments powerhouse serving more than 56 million customers and over 5 million businesses.
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Before joining Safaricom and Vodacom’s M-Pesa Africa joint venture, he held senior roles in banking and payments, building expertise in financial inclusion and digital ecosystems.
As his term at the telco nears an end in March 2026, Lopokoiyit will leave behind a solid fintech that has been in existence since 2007.
M-Pesa today boasts Ksh 161.1 billion in revenue, accounting for roughly 44.2 percent of Kenya’s service revenue.
Absa Group has also appointed Prabashni Naidoo as Group Chief Governance Officer in a newly reconstituted role overseeing Legal, Compliance and Group Secretariat, effective March 1, 2026. She currently serves as Group Chief Internal Audit Executive.
Rushdi Solomons has been promoted to Group Chief Internal Audit Officer, taking over from Naidoo. He previously served as Managing Executive for Compliance Strategy, Regulatory Relations and Governance.
Fatima Newman has also been appointed Chief Compliance Officer, effective March 1, 2026.
