Absa Appoints 4 Top Executives to Drive its Ambitious Pan-African Growth Strategy

Banking giant Absa has announced a series of high-profile appointments to its senior leadership team as the group intensifies its pan-African growth strategy.

The strategic reshuffle, affecting key roles in governance, compliance, and retail banking, is set to take effect between 1 March and 1 April.

Heavyweight Lead for Private Banking

The most significant move sees Sitoyo Lopokoiyit take the helm of Absa’s Personal and Private Banking segment on 1 April.

Mr Lopokoiyit joins with a formidable reputation in African fintech, having served as the Managing Director of M-PESA Africa and Chief Financial Services Officer at Safaricom.

During his tenure at Safaricom, which began in 2011, he oversaw the expansion of M-PESA to over 56 million customers and five million businesses. His track record includes:

• The launch of the M-PESA Super App and the Fuliza service.
• Establishing global partnerships with PayPal and Alipay.
• Previous senior leadership experience in Tanzania.

Strengthening Governance and Audit

In a bid to streamline its oversight functions, Absa has appointed Prabashni Naidoo as Group Chief Governance Officer, effective 1 March. This newly consolidated role will oversee the group’s legal services, compliance, and secretariat.

Joining the executive floor on the same date is Rushdi Solomons, who takes over as Group Chief Internal Audit Officer.

Mr Solomons brings extensive experience from the public and private sectors, having previously held roles at Deloitte, PwC, and serving as the Auditor-General of South Africa.

Robust Compliance Oversight

Rounding out the new leadership team is Fatima Newman, who steps into the role of Chief Compliance Officer.

Ms Newman boasts 28 years of expertise in risk management and compliance, with a career spanning major firms including MTN South Africa, EOH, and a previous stint at Absa.

The appointments signal a clear intent by the bank to fortify its internal structures while aggressively pursuing its continental ambitions through seasoned African leadership.

Source: l’Express