FOLLOWING the finalisation of its refocused Group Pan-African Strategy, Absa Group has announced a number of executive leadership changes, reinforcing its ongoing commitment to enhanced strategic capability, customer-led growth, strong governance, succession planning and deepened leadership bench strength across the organisation.
Mr Sitoyo Lopokoiyit has been appointed as Chief Executive, Personal and Private Banking, effective 1 April 2026.
“A highly experienced industry leader, Mr Lopokoiyit brings deep expertise in financial services, telecoms, customer value propositions and experience, and large scale business transformation,” a statement issued by the Absa Group in Accra yesterday said.
The appointment, it said represented an important step in Absa’s ongoing focus on delivering integrated, customer centric solutions across its Personal and Private Banking franchise, while also exploring new growth opportunities.
Mr Lopokoiyit was most 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 more than 12 years of experience in fintech, Lopokoiyit has played a central role in scaling M-PESA into a continental powerhouse, 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,” the statement said.
Since joining Safaricom in 2011, Lopokoiyit held several senior leadership roles, including Head of M-PESA Strategy and Business Development, and has led operations in Tanzania. He has driven the launch of major innovations such as the M-PESA Super App, Fuliza, and strategic partnerships with global platforms including PayPal and AliPay.
“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”, Kenny Fihla, Group Chief Executive Officer of Absa Group said.
In line with Absa’s commitment to strong governance, Prabashni Naidoo, currently serving as Group Chief Internal Audit Executive, will step into a newly reconstituted role that includes Legal, Compliance and Group Secretariat as Group Chief Governance Officer, effective March 1, 2026.
“A highly respected governance professional, Prabashni brings extensive experience across audit, risk, regulatory engagement, and organisational assurance. Her leadership and deep institutional knowledge will continue to strengthen governance standards across the Group,” the statement said.
Mr Rushdi Solomons is promoted to Group Chief Internal Audit Officer, effective 1 March 2026. He was the Managing Executive, Compliance Strategy, Regulatory Relations and Governance, a role he has held since June 2025. Prior to his current role, Rushdi was Chief Operating Officer in Group Internal Audit, a role he held since joining Absa in June 2020. Before joining Absa, Rushdi held roles as Partner: Deloitte Risk Advisory; Acting Business Executive: Auditor-General of SA; PwC (Advisory and Audit & Assurance) where he completed his Articles.
Fatima Newman has been appointed Chief Compliance Officer, effective March 1, 2026. She is a strategically minded Executive with 28 years’ experience across a range of industries and expertise in Risk, Compliance, Regulatory and Governance, and Financial Services.
Commenting on the leadership changes, Fihla said “These appointments reflect both the depth of talent within Absa and the strength of our succession planning, as well as our ambition to enhance our organisational resilience by bringing onboard expertise from outside the firm to close the gaps in key capability areas.”
BY TIMES REPORTER
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