I&M Group has appointed veteran banker Abdi Mohamed as the new Chief Executive Officer (CEO) of I&M Bank Kenya, just a day after he resigned as Managing Director and CEO of Absa Bank Kenya.

The appointment, which is subject to approval by the Central Bank of Kenya (CBK), comes hours after Absa announced Mohamed’s departure following a 32-year career with the lender, including the last three years at the helm of its Kenyan business.

In a statement issued on Monday, June 29, 2026, I&M Group said Mohamed will spearhead the bank’s next phase of growth, leveraging his extensive experience in banking, financial services and corporate leadership spanning more than three decades.

Abdi Mohamed’s banking career

Before joining I&M, Mohamed served as CEO and Managing Director of Absa Bank Kenya, where he oversaw the lender’s growth and transformation following his appointment in May 2023. Before that, he was the Managing Director and CEO of Absa Bank Tanzania, where he led the transition from the Barclays brand to Absa, and previously held senior leadership positions across Kenya, Tanzania and Zambia, including Chief Operating Officer and Retail and Business Banking Director.

Welcoming the appointment, I&M Group Executive Director Sarit Raja-Shah said the lender was confident Mohamed would strengthen the bank’s market position.

“We are delighted to welcome Abdi to I&M Group at an exciting and important time in our journey as we continue to scale our business, deepen customer relationships, strengthen our market leadership and create sustainable value for all our stakeholders.”

Raja-Shah added:

“With his extensive experience, proven leadership track record and deep understanding of the financial services landscape, the Board is confident that Abdi is well positioned to lead I&M Bank Kenya into its next phase of growth. He will play a critical role in advancing our strategic priorities, driving innovation, and expanding market share.”

Mohamed’s resignation from Absa

The announcement comes amid a rapid leadership transition within Kenya’s banking industry.

Earlier on Monday, Absa Bank Kenya confirmed Mohamed’s resignation, saying he would leave the lender effective June 30, 2026, to pursue other career opportunities. The bank’s Board thanked him for his service and announced the appointment of Chief Financial Officer Yusuf Omari as Interim Managing Director and CEO, subject to regulatory approval, as it begins the search for a substantive successor.

Mohamed’s exit concludes a distinguished 32-year career within the Absa and former Barclays franchise, during which he rose through the ranks to hold several senior executive positions across East and Southern Africa. During his tenure as CEO of Absa Bank Kenya, the lender accelerated its digital transformation strategy, diversified its revenue streams beyond traditional lending and strengthened operational efficiency.

Beyond banking, Mohamed has built a strong reputation in corporate governance and sustainability. He currently serves as chairman of the UN Global Compact Kenya chapter and sits on the boards of Touch Health Inc. and Integrated Payment Systems Limited (IPSL).

I&M said Mohamed’s appointment underscores the group’s commitment to accelerating growth through innovation and customer-centric banking.

The appointment also represents a strategic recruitment for I&M, with the regional lender bringing on board a seasoned executive who has led one of Kenya’s largest banks and possesses extensive experience across multiple African markets. Industry observers view the move as one of the highest-profile executive transfers in Kenya’s financial sector in recent years.