NAIROBI, Kenya — Stanbic Bank Kenya has appointed Michael Mutiga as its Chief Executive Officer after receiving approval from the Central Bank of Kenya (CBK), ending a leadership transition that began earlier this year.
Mutiga takes over from Abraham Ongenge, who has served as acting CEO since March 2026 following the appointment of Joshua Oigara as Chief Executive and Director of Stanbic Holdings Plc.
The appointment comes as Stanbic Bank seeks to build on its strong first-half performance and accelerate its next phase of growth.
Michael Mutiga Takes Over Stanbic Bank
Mutiga is a lawyer and career banker with more than two decades of experience spanning banking, investment banking, telecommunications and digital financial services.
Before joining Stanbic, he served as Chief Business Development and Strategy Officer at Safaricom PLC, where he was involved in strategy and business growth initiatives.
He previously spent about 15 years at Citibank, rising to Managing Director and Head of Corporate Finance for Sub-Saharan Africa, based in Johannesburg.
Mutiga also held senior investment banking roles at Barclays, which is now part of Absa.
Stanbic Chairman Backs New CEO
Stanbic Bank Kenya Board Chairman Joe Muganda described Mutiga as a respected leader with extensive experience in banking and finance across Kenya and Sub-Saharan Africa.
Muganda said Mutiga’s combination of investment banking expertise and strategic leadership in the telecommunications sector would position him to lead the lender’s next phase.
“We are confident he will build on our current momentum to drive sustainable growth, enhance customer experience, and deliver value to our shareholders,” Muganda said.
The bank said it expects Mutiga to deepen customer relationships while supporting its broader strategic priorities.
Mutiga Sets Out Priorities
Accepting the appointment, Mutiga said he would focus on strengthening relationships with customers and accelerating Stanbic’s digital transformation agenda.
He also said the bank would continue partnering with key sectors of the Kenyan economy to support sustainable development.
“This is a formidable institution with a rich history in this country and a very strong foundation for future growth,” Mutiga said.
He added that the bank’s recent performance reflected the commitment of its employees and their focus on customers.
Stanbic Reports Strong H1 Performance
Mutiga assumes leadership as Stanbic Bank Kenya reports a strong first half of 2026.
The lender posted Sh6.6 billion in profit after tax during the period, while total assets increased by 27 per cent to Sh602 billion.
The performance provides the backdrop for Mutiga’s mandate as he takes charge of the bank’s growth strategy, digital transformation and customer-focused initiatives.
Stanbic has said the new CEO will help sustain momentum while creating long-term value for customers, employees and other stakeholders.
Abraham Ongenge Returns to Substantive Role
Ongenge will return to his substantive position as Head of Personal and Private Banking after guiding Stanbic through the leadership transition.
He assumed the acting CEO position in March following Oigara’s move to lead Stanbic Holdings.
The bank’s latest announcement completes the regulatory process for Mutiga’s appointment. The board had initially announced his appointment in July, subject to the necessary regulatory approvals.
Mutiga Brings Banking and Telecom Experience
Mutiga’s move to Stanbic brings together experience from two major sectors of Kenya’s economy.
His banking career includes corporate finance, investment banking and regional leadership at Citibank and Barclays, while his time at Safaricom gave him experience in telecommunications, digital financial services, strategy and business development.
He holds a Bachelor of Laws degree from the University of Nairobi and a Master of Laws degree from Temple University in the United States.
His appointment places that combined experience at the centre of Stanbic Bank Kenya’s efforts to deepen digital services, strengthen customer relationships and sustain growth.
