Absa has announced the appointment of Sitoyo Lopokoiyit as its CEO of Personal and Private Banking, along with a host of other leadership changes.
Absa said that a host of new leadership changes reinforce its commitment to enhanced strategic capability, customer-led growth, strong governance and a deepened leadership bench.
Absa said that Lopokoiyit is a highly experienced industry leader who brings deep expertise in financial services, telecoms, customer value propositions, experience, and large-scale business transformation.
The group said the appointment represents an important step in its focus on delivering integrated, customer-centric services across its Personal and Private Banking franchise, while exploring growth opportunities.
Kenyan Lopokoiyit was recently the Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom, where he led the strategy and growth of Africa’s largest fintech platform.
With over 12 years of experience in fintech, Lopokoiyit played a large role in scaling M-PESA into a financial giant, serving over 56 million customers and more than 5 million businesses.
He was appointed to lead M-PESA Africa, the joint venture between Safaricom and Vodacom, with a mandate to expand the platform’s reach and relevance across African markets.
Before joining Safaricom in 2011, Lopokoiyit held several leadership roles, including Head of M-PESA Strategy and Business Development, and also led operations in Tanzania.
He was recognised in the 11:FS Hall of Fame, which honours industry leaders who have improved financial services through innovation, resilience, and pioneering work.
Absa said that Lopokoiyit is deeply committed to empowering small businesses, increasing access to inclusive financial services, and accelerating the adoption of digital payments across Africa.
“This appointment demonstrates Absa’s strategic focus on delivering integrated, customer-centric solutions across our Personal and Private Banking franchise while unlocking new growth opportunities”, says Kenny Fihla, Group CEO of Absa Group.
Other changes
The group also announced that Prabashni Naidoo, the Group Chief Internal Audit Executive, will move into a new role of Group Chief Governance Officer, effective 1 March 2026.
The move aligns with Absa’s focus on strong governance, with Naidoo’s new role including Legal, Compliance and Group Secretariat.
Absa said that she has deep expertise in audit, risk, regulatory engagement, and organisational assurance.
Rushdi Solomons has also been promoted to Group Chief Internal Audit Officer, effective 1 March 2026.
Solomons was previously the Managing Executive: Compliance Strategy, Regulatory Relations and Governance. He has experience in the private and public sectors, having worked for Deloitte, PwC, and the Auditor-General.
Moreover, Fatima Newman has been appointed as the Chief Compliance Officer, effective 1 March 2026, bringing 28 years of experience to the role.
She previously worked as the Chief Risk Officer at EOH Group Limited, and held senior roles at Absa, EasyHQ, and MTN South Africa.
“These appointments reflect… our ambition to enhance our organisational resilience by bringing on board expertise from outside the firm to close the gaps in key capability areas,” said Fihla.
“We are building a future-fit leadership team, deepening our bench strength, and ensuring the right capabilities are in place to deliver on our strategic ambitions.”
“The appointments also bring significant depth of experience across legal, regulatory, assurance, and control disciplines, supporting Absa’s commitment to a strong and resilient governance framework.”
