Absa has appointed Sitoyo Lopokoiyit to lead its personal and private division. Sitoyo Lopokoiyit is set to assume his position on April 1, 2026.
Lopokoiyit is definitely no stranger to the country’s financial system. He has been known around Kenya for quite some time as the face behind Safaricom and M-PESA, as well as other notable ventures.
Prior to joining Absa, he served as the Managing Director of M-PESA Africa as well as the Chief Financial Services Officer at Safaricom. In these roles, he was responsible for leading the expansion of the M-PESA brand across the continent of Africa. Currently, the service has over 56 million customers as well as over 5 million businesses under its umbrella.
He joined Safaricom in 2011, rising to such senior roles as Head of M-PESA Strategy and Business Development. At one point, he was in charge in Tanzania, which means he has experience outside Kenya.
During his stay at M-PESA, he contributed to the development and rollout of products that Kenyans use on a daily basis, such as the M-PESA Super App and Fuliza services, which have become a financial lifeline when people need extra cash. He also facilitated partnerships with international platforms such as PayPal and AliPay to expand international transactions to Kenya.
According to Absa, the appointment will further strengthen the Personal and Private Banking division. As the banking sector becomes increasingly digital and competitive, the bank is hoping that the experience gained by Lopokoiyit in innovation and large-scale transformation will lay the foundation for the next era of growth.
This hiring represents the ongoing trend in Kenya’s financial technology industry and banking sector, where experienced managers keep switching positions from the telecommunication industry to the banking industry, which is moving ever closer together.