Absa Taps M-PESA Africa MD Sitoyo Lopokoiyit To Lead Retail, Private Banking

Absa Group has announced the appointment of Sitoyo Lopokoiyit as Chief Executive for Personal and Private Banking, effective 1 April 2026, in a move that underscores the bank’s focus on deepening customer-centric innovation and accelerating growth across its retail and affluent segments.

Lopokoiyit joins Absa as a seasoned industry executive with extensive experience spanning financial services, telecommunications, digital platforms, and large-scale business transformation. His appointment is expected to support the bank’s strategy to deliver more integrated financial solutions while unlocking new market opportunities within its Personal and Private Banking franchise.

He most recently served as Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom, where he led the strategic direction and expansion of one of the continent’s most influential fintech platforms. Over a fintech career spanning more than 12 years, Lopokoiyit played a central role in scaling M-PESA’s footprint to more than 56 million customers and over 5 million businesses.

In his role leading M-PESA Africa, he was tasked with extending the platform’s reach, capability, and relevance across multiple African markets.

Since joining Safaricom in 2011, Lopokoiyit held several senior leadership roles, including Head of M-PESA Strategy and Business Development, and also led operations in Tanzania. During his tenure, he oversaw the rollout of key innovations such as the M-PESA Super App and Fuliza, as well as strategic integrations with global payment platforms including PayPal and AliPay.

His contribution to advancing digital financial services and inclusion has earned international recognition, including induction into the 11:FS Hall of Fame, which honours leaders who have significantly transformed the financial services ecosystem through innovation and industry impact. He is widely regarded for his commitment to empowering small businesses and expanding access to inclusive digital financial tools.

Commenting on the appointment, Absa Group Chief Executive Officer Kenny Fihla said the leadership change aligns with the bank’s long-term strategic priorities.

“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,” said Fihla.

Lopokoiyit’s appointment comes as banks across Africa intensify investment in digital transformation, platform banking, and customer experience modernization amid rising competition from fintechs and mobile money operators.