Absa Bank Kenya has announced the resignation of its Chief Executive Officer, Abdi Mohamed, effective 30 June 2026, bringing to an end his tenure of just over three years at the helm of the lender.
Absa Bank Board announced Abdi’s departure on Monday, June 29, adding that he resigned to pursue other career opportunities.
“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 remarked.
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, he 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.
This marks the second time Omari has been called upon to steer the bank in an acting capacity, having previously taken over the position in 2022 following the departure of former CEO Jeremy Awori.
Omari is a seasoned finance and banking professional with more than two decades of experience at Absa Bank Kenya. He joined the lender in 2004 from audit firm KPMG, where he had worked between 1998 and 2004.
During his time at the bank, he has held several senior leadership positions, including Head of Internal Audit for the East and West Africa cluster from 2004 to 2008 and Head of Compliance between 2008 and 2009.
He was appointed Chief Financial Officer in 2009, a role he has held for over 15 years while overseeing the bank’s financial strategy and performance.
Omari is also a qualified Certified Public Accountant (CPA) and Certified Internal Auditor. He is a member of the Institute of Chartered Public Accountants of Kenya (ICPAK) and the Institute of Internal Auditors (IIA).
Beyond his executive responsibilities, he serves on the boards of the University of Nairobi Enterprise Services and ICPAK.
Academically, he holds a Master of Business Administration from Strathmore Business School and a Bachelor’s degree in Economics from the University of Nairobi.
His extensive institutional knowledge and leadership experience are expected to provide continuity as the bank transitions to new leadership.
“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.
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