I&M Bank Appoints Former Absa Kenya CEO Abdi Mohamed as Chief Executive

I&M Group Plc has appointed former Absa Bank Kenya Managing Director and Chief Executive Officer Abdi Mohamed as the new Chief Executive Officer of I&M Bank Kenya, subject to approval by the Central Bank of Kenya (CBK).

The appointment comes a day after Absa Bank Kenya announced Mohamed’s resignation after a three-year stint at the helm of the lender and more than three decades with the Absa Group.

In a notice to shareholders, I&M Group said Mohamed will succeed Kihara Maina, who has been serving in a dual capacity as Interim Chief Executive Officer of I&M Bank Kenya and Regional CEO of I&M Group.

Maina will continue in both roles until the CBK completes the regulatory approval process for Mohamed’s appointment.

Mohamed joins I&M Bank with more than 30 years of experience in banking and financial services across retail and corporate banking, operations, risk management, digital transformation and executive leadership in several African markets.

Before his move to I&M, he served as CEO and Managing Director of Absa Bank Kenya. He also previously headed Absa Bank Tanzania and held various senior leadership positions within the Absa Group.

His appointment comes as I&M Group continues to strengthen its leadership team amid growing competition in Kenya’s banking sector, where lenders are investing in digital banking, expanding regional operations and seeking new growth opportunities.

In a statement, I&M Group said Mohamed’s experience in banking and strategic leadership would support the lender’s next phase of growth, subject to regulatory approval.

The leadership change also marks one of the most significant executive movements in Kenya’s banking industry this year, following Mohamed’s departure from Absa Bank Kenya and the subsequent appointment of the bank’s Chief Financial Officer, Yusuf Omari, as interim CEO.

I&M Group is listed on the Nairobi Securities Exchange and operates banking businesses in Kenya, Tanzania, Rwanda, Uganda and Mauritius.