Absa Group has appointed former M-PESA Africa managing director Sitoyo Lopokoiyit as chief executive of its Personal and Private Banking division, the lender said on Tuesday, as it sharpens its focus on customer-led growth under a refocused pan-African strategy.
Lopokoiyit will take up the role on April 1, 2026, Absa said, overseeing one of the group’s largest businesses, which serves retail, affluent and private banking customers across multiple African markets.
He joins from Safaricom, where he was most recently Managing Director of M-PESA Africa and Chief Financial Services Officer, leading strategy and growth for Africa’s largest mobile money platform.
M-PESA serves more than 56 million customers and over 5 million businesses across the continent. At M-PESA Africa, a joint venture between Safaricom and Vodacom, Lopokoiyit was responsible for expanding the platform beyond Kenya and deepening its presence in other African markets.
Lopokoiyit joined Safaricom in 2011 and previously held senior roles including Head of M-PESA Strategy and Business Development, and also led the company’s operations in Tanzania. He was involved in the rollout of products such as Fuliza, a digital overdraft facility, the M-PESA Super App, and partnerships with global payment 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,” Absa Group Chief Executive Kenny Fihla said in a statement.
Absa said the appointment follows the completion of its updated pan-African strategy and reflects its aim to strengthen leadership capability and accelerate digital-led growth across its retail banking operations.
Lopokoiyit has been recognised internationally for his work in financial inclusion and digital payments, including induction into the 11:FS Hall of Fame, which honours innovation in financial services.
Absa operates in several African markets including South Africa, Kenya, Ghana, Zambia and Tanzania, and has been investing in digital platforms as competition intensifies from fintechs and telecom-led financial services providers.