Absa is sharpening its digital edge with the appointment of Sitoyo Lopokoiyit as head of its Personal and Private Banking operations across Africa, effective April 1, 2026. The move signals a deliberate tilt towards tech-driven financial services as the bank recalibrates for the next phase of growth.
Lopokoiyit joins from M-Pesa Africa, where he served as chief executive officer, having previously held the role of chief financial services officer at Safaricom. There, he steered strategy and expansion for what remains Africa’s largest fintech platform.
In announcing the appointment, Absa described him as a seasoned industry figure with strong grounding in financial services, telecommunications, customer experience and large-scale transformation. The bank said his hiring underscores its push to deliver integrated, customer-focused solutions within its Personal and Private Banking division, while pursuing fresh growth avenues.
The development comes barely a week after Absa Group CEO Kenny Fihla concluded a three-day visit to Nairobi, during which he met National Treasury Cabinet Secretary John Mbadi and Central Bank Governor Kamau Thugge. The timing is telling. As traditional lenders increasingly court fintech expertise, Lopokoiyit’s arrival highlights Absa’s intent to deepen its digital distribution channels and expand its footprint across African markets.
Speaking during his visit, Fihla noted that banks, telecoms firms and fintechs are all vying for space in the digital ecosystem. He pointed to growing convergence between previously siloed services, arguing that banks must rethink their models in an environment where new entrants operate with narrower mandates and lighter regulatory burdens.
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Lopokoiyit’s appointment also coincides with Absa’s broader repositioning. Once seen primarily as a corporate and investment banking heavyweight, the group is now targeting greater scale in retail banking across the continent. Fihla said the bank aims to build meaningful scale within carefully selected client segments before leveraging that base to unlock further opportunities, acknowledging that such expansion will be gradual rather than instantaneous.
