Absa Bank CEO Abdi Mohamed exits, Yusuf Omari picked as Interim MD

The Board of Absa Bank Kenya PLC has today announced the resignation of Abdi Mohamed from the role of Managing Director and CEO, effective 30 June 2026, to pursue other career opportunities.

Mr. Mohamed is leaving the Bank after a 32-year career during which he served in various leadership roles, including the last three years as CEO and MD of Absa Bank Kenya. He also previously served as Managing Director of Absa Bank Tanzania.

During his tenure, Mr. Mohamed has steered the Bank through defining moments that have not only enhanced organizational resilience but also created strong business growth, leading to the doubling of the Absa Kenya share price over a three-year period.

“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,” said Absa Bank Board of Directors Chairman Mr. Mohammed Nyaoga.

To ensure a smooth leadership transition, the Board has appointed Absa Bank Kenya’s Chief Financial Officer Yusuf Omari as Interim Managing Director and Chief Executive Officer with effect from 1st July 2026, subject to regulatory approvals. The Board will concurrently initiate the recruitment process for the substantive appointment for the position.

Mr. Omari is a highly accomplished executive with more than two decades of experience spanning Finance, Strategy, Risk Management, ESG, and Corporate Governance.

With his rich strategic acumen, strong leadership capabilities, and commitment to driving sustainable growth, he is well equipped to guide the Bank through this transition and ensure continued momentum in the delivery of its strategic priorities.

“The Board is fully committed to supporting Mr. Omari and is confident in his ability to provide strong, steady, and effective leadership during this period of transition. 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,” said Mr. Nyaoga.

Commenting on the announcement, Abdi said, “Serving Absa for the past three decades has been one of the greatest privileges of my professional life. I have had the opportunity to work alongside exceptional colleagues, supportive boards, and valued customers across different markets, including Kenya and Tanzania.

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. Absa Bank Kenya has a strong leadership team, a clear strategy, and tremendous potential, and I wish Yusuf and the entire team continued success.”  

Mr. Mohamed will proceed on gardening leave while serving notice and will remain available to the board and management to ensure a seamless transition process.

Absa remains well positioned to continue executing its strategy, supported by a strong leadership team and focused on delivering value for customers, colleagues and stakeholders.