Banking & Financial ServicesThe Big Story

Absa Group Appoints M-PESA Africa CEO Sitoyo Lopokoiyit as Head of Personal and Private Banking The move underscores the growing convergence between fintech and traditional banking as Absa taps digital expertise to reshape its retail franchise.

Sitoyo Lopokoiyit will step down as CEO of M-PESA Africa on 31 March 2026, closing a transformative chapter that saw the platform expand across eight African markets and evolve into a fully integrated fintech ecosystem.

Absa Group has confirmed the appointment of M-PESA Africa chief executive Sitoyo Lopokoiyit as the new head of its Personal and Private Banking division, marking a significant leadership move as the South African lender accelerates its pan-African growth strategy. The move, first reported by South African business publication Business Day, has now secured regulatory approval from the South African Reserve Bank, clearing the way for Lopokoiyit to assume the role in April. His appointment is notable on several fronts. He becomes the first non-South African to lead Absa’s Personal and Private Banking unit, one of the group’s largest and most…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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