Kenya: Stanbic Bank Apppoints Safaricom Executive Michael Mutiga As Kenya CEO

By Kevin Rotich

Nairobi — Stanbic Bank Kenya has appointed Safaricom executive Michael Mutiga as its new Chief Executive Officer, effective August 1, 2026.

Mutiga, who currently serves as Safaricom's Chief Business Development and Strategy Officer, succeeds Joshua Oigara, who was promoted in February to lead Stanbic Holdings, the bank's parent company. Abraham Ongenge has been serving as acting CEO since Oigara's promotion.

In a statement, the bank described Mutiga as an experienced executive with more than 20 years in banking, telecommunications and digital financial services.

"Mr. Mutiga is a seasoned executive with over 20 years of leadership experience across banking, telecommunications and digital financial services sectors," the bank said.

"He has extensive expertise in strategy, corporate finance, business growth, stakeholder engagement and large-scale operations management."

Mutiga will be tasked with steering the bank's growth strategy and improving financial performance.

The appointment comes after Stanbic Bank Kenya posted a five percent increase in net profit to Sh3.5 billion in the first quarter ended March 2026, supported by higher net interest income, growth in lending and effective cost management.

The bank said it expects Mutiga's experience in strategy and business transformation to support its next phase of growth.

"The Board is confident that Mr. Mutiga's proven track record in the banking sector, strategy execution and transformation will position Stanbic Bank for its next phase of growth. The Board looks forward to his leadership and contribution."

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