Absa Bank Kenya PLC has announced that Managing Director and CEO Abdi Mohamed will resign from his position, effective June 30, 2026, to pursue other career opportunities.
To ensure continuity, the Board has appointed the bank’s current Chief Financial Officer (CFO), Yusuf Omari, as the Interim Managing Director and CEO, effective July 1, 2026, subject to regulatory approvals. Concurrently, a recruitment process to find a substantive replacement has been initiated.
Mr. Mohamed’s departure marks the end of a 32-year career with the institution, during which he served in various leadership roles across the region, including a stint as the Managing Director of Absa Bank Tanzania. For the past three years, he has been at the helm of Absa Bank Kenya.
During his tenure as CEO, Mohamed successfully steered the bank through a rapidly changing economic landscape, enhancing its organizational resilience and driving robust business growth. Notably, under his leadership, Absa Kenya witnessed a doubling of its share price over a three-year period.
Absa Bank Board Chairman, Mr. Mohammed Nyaoga, expressed deep gratitude for Mohamed’s dedication: “The board and management of Absa Bank Kenya appreciate Mr. Mohamed for his leadership, diligence, outstanding service and contribution to Absa and wishes him the best in his future endeavours.”
Reflecting on his departure, Mr. Mohamed described his time at the bank as the ultimate professional privilege: “Serving Absa for the past three decades has been one of the greatest privileges of my professional life. I am proud of what we have achieved together, particularly over the last three years. As I embark on a new chapter, I do so with immense gratitude and confidence in the Bank’s future.”
Mr. Mohamed will now proceed on gardening leave while serving his notice period, remaining available to the board to guarantee a seamless transition.
Incoming Interim CEO Yusuf Omari is a highly seasoned corporate executive, bringing over twenty years of experience across finance, strategy, risk management, ESG, and corporate governance to the role.
The Board expressed absolute confidence in Mr. Omari’s capability to sustain the bank’s current momentum and execute its strategic priorities during this transitional phase. “We believe 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,” noted Chairman Nyaoga.