File image of Abdi Mohamed
The I&M Group has appointed seasoned banker Abdi Mohamed as the new Chief Executive Officer (CEO) of I&M Bank Kenya.
In a statement on Monday, June 29, the lender said Mohamed’s appointment will take effect upon receiving regulatory approval from the Central Bank of Kenya (CBK).
“I&M Group is pleased to announce the appointment of Abdi Mohamed as its new Chief Executive Officer for I&M Kenya Limited, subject to approval from the Central Bank of Kenya,” the statement read.
Mohamed joins I&M Bank from Absa Bank Kenya, where he served as the CEO and Managing Director.
Before leading Absa Bank Kenya, Abdi served as Managing Director and CEO of Absa Bank Tanzania, where he successfully led the rebranding of the organization from Barclays to Absa.
He has also served as Chief Operating Officer for Barclays Bank Kenya, and as Retail and Business Banking Director in both Kenya and Zambia.
I&M Group Executive Director Sarit Raja-Shah expressed confidence that Mohamed would accelerate its growth strategy and strengthen its position in Kenya’s competitive banking sector.
“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.
“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,” he stated.
The appointment comes after Absa Bank Kenya announced Mohamed’s resignation as CEO, effective Tuesday, June 30, 2026.
Absa Bank Kenya appointed Yusuf Omari as the Interim Managing Director and CEO with effect from July 1.
“To ensure a smooth leadership transition, the Board has appointed Absa Bank Kenya’s Chief Financial Officer, Yusuf Omari, as Interim Managing Director and Chief Executive Officer with effect from 1st July 2026, subject to regulatory approvals.
“The Board will concurrently undertake the recruitment process for the substantive appointment for the position,” Absa board chair Mohamed Nyaoga announced.
