Absa unveils executive overhaul to drive pan-African growth strategy

Absa Group has announced a sweeping set of executive leadership appointments aimed at reinforcing its “refocused group Pan-African strategy” and deepening its bench of specialists in digital finance and governance. The moves, which include significant external hires and internal promotions, signal a shift toward a more “future-fit” leadership structure as the bank pursues customer-led growth across the continent.

Fintech powerhouse joins the C-suite

In the most high-profile appointment, Absa has tapped Sitoyo Lopokoiyit as the new CEO of personal and private banking, effective 1 April 2026. Lopokoiyit, a globally recognised leader in the fintech ecosystem, joins the bank from his role as managing director of M-Pesa Africa. During his 12-year tenure at Safaricom and M-Pesa, he scaled the platform to serve over 56 million customers and 5 million businesses, driving innovations like the M-Pesa Super App and global partnerships with PayPal and AliPay.

Lopokoiyit’s appointment is viewed as a strategic play to accelerate Absa’s digital payment adoption and financial inclusion efforts. Kenny Fihla, CEO of Absa Group, noted that the move “demonstrates Absa’s strategic focus on delivering integrated, customer-centric solutions across our personal and private banking franchise while unlocking new growth opportunities”.

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Reinforcing the governance framework

Alongside its growth strategy, Absa is reconstructing its governance architecture to enhance organisational resilience. Effective 1 March 2026, Prabashni Naidoo will transition from group chief internal audit executive to the newly created role of group chief governance officer. This reconstructed position will oversee legal, compliance, and group secretariat functions, leveraging Naidoo’s deep institutional knowledge in regulatory engagement and risk management.

Following Naidoo’s transition, Rushdi Solomons has been promoted to group chief internal audit officer. Solomons, who has been with the firm since 2020 and most recently served as managing executive of compliance strategy, regulatory relations and governance, brings a wealth of experience from the public and private sectors, including prior roles at Deloitte and PwC.

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Deepening technical expertise

The leadership overhaul is completed by the appointment of Fatima Newman as chief compliance officer, also effective 1 March 2026. Newman brings nearly three decades of experience in risk and regulatory oversight, notably serving as EOH’s chief risk officer during a high-profile business turnaround.

“These appointments reflect both the depth of talent within Absa and the strength of our succession planning, as well as our ambition to enhance our organisational resilience by bringing on board expertise from outside the firm to close the gaps in key capability areas,” said Fihla.

The group CEO emphasised that the new team provides the necessary “bench strength” to deliver on Absa’s continental ambitions while maintaining a “strong and resilient governance framework”.

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