Absa Group is set to appoint Sitoyo Lopokoiyit, the current chief executive officer of M-Pesa Africa, as the new head of its Personal and Private Banking division.
The appointment is expected to be formally announced soon after Absa confirms it has received regulatory approval.
Sitoyo Lopokoiyit will be the first non-South African to lead the bank’s personal banking unit, marking a major leadership decision for the South African bank.
Absa Makes Leadership Change
Sitoyo Lopokoiyit is widely recognised across Africa for his leadership of M-Pesa, the continent’s largest mobile money and fintech platform.
During his tenure, which began in April 2021, M-Pesa expanded operations to eight countries and served tens of millions of customers, offering a range of financial services including payments, savings, credit, and merchant solutions.
Absa said the appointment forms part of its broader leadership restructuring under Group Chief Executive Kenny Fihla, which aims to strengthen performance across key divisions.
The bank indicated that Sitoyo Lopokoiyit’s experience in digital financial services and mobile money aligns with its strategy to grow personal and private banking across its African footprint.
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Absa Bank has stated that enhancing its retail offering and expanding into growth markets, particularly in East Africa, remain priorities.
Sitoyo Lopokoiyit Career
Sitoyo Lopokoiyit is a Kenyan corporate executive best known for his leadership in Africa’s digital financial services sector.
He became Managing Director and Chief Executive Officer of M-Pesa Africa in April 2021.
Before taking the top M-Pesa role, Lopokoiyit held several senior positions within the Safaricom and Vodacom ecosystem.
He served as Chief Financial Services Officer at Safaricom, where he oversaw the M-Pesa business in Kenya, the platform’s largest and most mature market.
In that role, he was responsible for product development, partnerships, regulatory engagement, and growth of mobile-based lending and savings products.
Earlier in his career, he worked as Director of M-Commerce at Vodacom Tanzania, where he led the development and scaling of mobile money services in the Tanzanian market.
His work focused on expanding agent networks, increasing transaction volumes, and building interoperability within the payments system.
Lopokoiyit also has experience in the energy and consulting sectors, including roles at Shell and in advisory positions.
Sitoyo Lopokoiyit holds a strong academic foundation in engineering and business.
He earned a Bachelor of Science degree in Mechanical Engineering from the University of Nairobi.
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He later obtained a Master of Business Administration (MBA) from the University of Warwick in the United Kingdom.
Broader Executive Hiring
Absa’s appointment of Sitoyo Lopokoiyit forms part of a wider executive reshuffle under Group Chief Executive Kenny Fihla, who took over leadership of the bank in 2025.
The bank has confirmed several senior appointments aimed at strengthening its core divisions and improving performance.
Among the key hires is Zaid Moola, who joined to lead Corporate and Investment Banking.
Moola previously held senior leadership roles at Standard Bank and brings experience in wholesale banking and capital markets.
Absa also appointed Musa Motloung as Group Strategic Risk Officer, reinforcing oversight across risk, governance, and compliance functions.
In addition, Avikaar Ramphal joined in a senior strategic risk role to support the bank’s enterprise-wide risk framework.
The bank said these appointments are part of efforts to build a stronger, more diversified leadership team with experience across different markets.
Absa has indicated that enhancing operational discipline, improving returns, and expanding growth outside South Africa are central to its current strategy.
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