Banking & Financial ServicesThe Big Story

What Must Happen for Africa’s Economic Breakthrough? Absa Group CEO Kenny Fihla Has a Powerful Answer Africa is standing at a rare moment of possibility—driven by shifting global dynamics, unprecedented demographic power, and a surge in digital innovation. Yet unlocking this potential will demand more than optimism. Absa Group CEO Kenny Fihla offers a clear, forceful argument on what must change for the continent to achieve its long-awaited economic breakthrough. His message is part warning, part blueprint, and part rallying call—reframing Africa not as a region waiting to be transformed, but as one already positioned to shape the next era of global economic leadership. CEO East Africa’s  Paul Murungi captured the highlights at the B20 Summit in Johannesburg, South Africa. 

Absa Group CEO Kenny Fihla

When Kenny Fihla walked onto the stage at the B20 Summit in Johannesburg, there was a sense that the room was bracing for more than a corporate address.  As the Group Chief Executive Officer of Absa Group, one of Africa’s most influential financial institutions, he arrived with a message that felt both urgent and momentous.  Africa, he argued, is standing at a rare inflexion point, one shaped by shifting global dynamics and the continent’s own emerging strengths.  And if the room expected a predictable speech filled with familiar development clichés, they quickly realised they were in for something different. Fihla…

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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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