Former Safaricom executive Michael Mutiga has received regulatory approval from the Central Bank of Kenya (CBK) to take over as Stanbic Bank Kenya’s Chief Executive Officer, paving the way for him to formally assume the role.
In a statement on September 15, Stanbic Bank Kenya stated that Mutiga’s appointment had received all necessary regulatory approvals.
“We are pleased to announce the appointment of Michael Mutiga as Chief Executive, Stanbic Bank Kenya, following approval from the Central Bank of Kenya,” the bank said in the statement.
Mutiga will lead Stanbic Bank Kenya as the lender builds on its strong financial performance in the first half of 2026.
Who is Michael Mutiga?
Michael Mutiga is a career banker and lawyer with more than two decades of experience spanning banking, telecommunications and digital financial services.
Before joining Stanbic Bank Kenya, he served as Safaricom PLC’s Chief Business Development and Strategy Officer, a position he held from May 2022.
Before moving into telecommunications, Mutiga spent more than 15 years at Citigroup, where he held senior roles in corporate banking and finance.
Also Read: Stanbic Bank Appoints Safaricom’s Michael Mutiga as New CEO
He rose to Managing Director and Head of Corporate Finance for Sub-Saharan Africa, based in Johannesburg.
Mutiga also has experience at Barclays Bank, where he served as Regional Coverage Head for Investment Banking in East Africa from 2002 to 2006.
Mutiga began his university education at the University of Nairobi, where he pursued a Bachelor of Laws degree from 1996 and graduated with Honours in 1999.
He later joined Temple University’s James E. Beasley School of Law in the United States, where he pursued a Master of Laws degree in Law. He graduated in May 2003.
Michael Mutiga is also a Certified Advocate of the High Court of Kenya and a Certified Public Secretary.
Stanbic Bank Kenya announced Mutiga’s appointment on July 16, stating that he would become Chief Executive effective August 1.
At the time, the bank said the appointment was subject to the requisite regulatory approvals.
“The Board of Directors is pleased to announce the appointment of Mr. Michael Mutiga as the Chief Executive of Stanbic Bank Kenya Limited effective 1st August 2026. This appointment is subject to requisite regulatory approvals,” the bank stated.
Stanbic Chairman Backs Mutiga as New CEO
Stanbic Bank Kenya Board Chairman Joe Muganda said Mutiga’s experience in banking, finance and telecommunications positioned him to lead the bank.
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“The Board is delighted to confirm Michael’s appointment as our new Chief Executive. Michael is a highly respected leader with an extensive and successful career in banking and finance, both in Kenya and across Sub-Saharan Africa,” Muganda said.
Muganda said the bank was confident Mutiga would build on its current momentum, drive sustainable growth, improve customer experience and deliver value to shareholders.
Michael Mutiga said he was honoured to officially lead Stanbic Bank Kenya and described the lender as an institution with a strong foundation for future growth.
“I am honoured and excited to officially lead Stanbic Bank Kenya,” Mutiga said.
He said he would focus on deepening customer relationships, accelerating the bank’s digital transformation agenda and partnering with key sectors of the economy to support Kenya’s sustainable development.
Mutiga’s appointment follows a period of interim leadership under Abraham Ongenge, who has served as Acting Chief Executive since March 1.
The Stanbic board thanked Ongenge for his leadership during the transition period.
Ongenge will return to his substantive role as Head of Personal and Private Banking.
Michael Mutiga takes over as Stanbic Bank Kenya reports strong financial results.
The lender recorded KSh6.6 billion in Profit After Tax in the first half of 2026, while total assets increased by 27% to KSh602 billion.
His experience across banking, investment banking, telecommunications and strategy comes as the bank seeks to deepen customer relationships, expand its digital transformation agenda and sustain its growth.
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