Absa Bank Kenya managing director Abdi Mohamed, who resigned earlier today has been appointed at I&M Bank Kenya in the same position.
“Mohamed joins I&M Bank Kenya with 30 years experience in the financial service industry and a distinguished track record of delivering growth, transformation and strategic leadership across multiple geographies within Africa,” I&M board said.
The announcement on Monday evening concludes an eventful day in Kenya’s financial market, with investors at the Nairobi Securities Exchange (NSE) sharing spoils.
I&M Bank share closed the day among the top five gainers, with its sharing garnering 3.42 per cent to hit Sh68 compared to Friday last week.
The Absa Bank Kenya share ,which has been bullish since the South African mother announced intentions to buy more stakes ,lost steam on the news of Mohamed’s departure closed the day among the worst losers.
Early today, Absa Bank Kenya’s board confirmed Mohamed’s resignation, stating that tomorrow will be his last day at the Waiyaki Way address.
“To ensure a seamless leadership transition, the Board has appointed the bank’s current chief financial officer, Yusuf Omari, as interim MD with effect from July 1, 2026, subject to regulatory approvals.”
