Stanbic Bank Kenya names ex-Safaricom exec Michael Mutiga as new CEO

Stanbic Bank Kenya has appointed former Safaricom executive Michael Mutiga as its chief executive, effective August 1 pending regulatory approval. Mutiga replaces Abraham Ongenge, who has served as acting chief executive since March and will return to his substantive role as Head of Private & Personal Banking. Before joining Safaricom as Chief Business Development and Strategy Officer, Mutiga built over two decades of leadership experience in banking, telecommunications, and digital financial services. He holds a Master of Laws from Temple University and a Bachelor of Laws from the University of Nairobi, and has received five Corporate Banker of the Year awards.

The appointment highlights how Kenya’s financial sector is converging with telecommunications as banks seek leadership beyond traditional finance to compete with fintechs and mobile money operators like Safaricom’s M-PESA. Absa Bank Kenya plans to spend up to KES 3 billion ($23.2 million) annually on technology to deepen its digital strategy, while former Absa CEO Abdi Mohamed recently stepped down to lead I&M Group’s Kenyan banking business.

What does this leadership shift mean for your choice of bank or fintech service as traditional banks and telcos increasingly blur their boundaries?

SOURCE: https://techcabal.com/2026/07/16/former-safaricom-executive-named-stanbic-bank-kenya-ceo/