Absa taps M-Pesa CEO Sitoyo Lopokoiyit for Africa banking role

Absa has announced the appointment of Sitoyo Lopokoiyit as Chief Executive: Personal and Private Banking, effective 1 April 2026. A highly experienced industry leader, Lopokoiyit brings deep expertise in financial services, telecoms, customer value propositions and experience, and large-scale business transformation. This appointment represents an important step in Absa’s ongoing focus on delivering integrated, customer centric solutions across its Personal and Private Banking franchise, while also exploring new growth opportunities. Lopokoiyit was most recently the Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom, where he led the strategy and growth of Africa’s largest fintech platform. With more than 12 years of experience in fintech, Lopokoiyit has played a central role in scaling M-PESA into a continental powerhouse, serving over 56 million customers and more than 5 million businesses. He was appointed to lead M-PESA Africa, the joint venture between Safaricom and Vodacom, with a mandate to expand the platform’s reach and relevance across African markets. Since joining Safaricom in 2011, Lopokoiyit held several senior leadership roles, including Head of M-PESA Strategy and Business Development, and has led operations in Tanzania. He has driven the launch of major innovations such as the M-PESA Super App, Fuliza, and strategic partnerships with global platforms including PayPal and AliPay.