Stanbic Bank appoints Safaricom executive Michael Mutiga as new Kenya CEO
Stanbic Bank Kenya has appointed Safaricom executive Michael Mutiga as its new Chief Executive Officer, with his appointment taking effect on August 1, 2026.
Mutiga, who currently serves as Safaricom’s Chief Business Development and Strategy Officer, will take over from Joshua Oigara, who was promoted in February to lead Stanbic Holdings, the bank’s parent company. Abraham Ongenge has been serving as the bank’s acting CEO since Oigara’s promotion.
In a statement, Stanbic Bank described Mutiga as an experienced business leader with more than two decades of experience in banking, telecommunications and digital financial services.
The lender said his background in strategy, corporate finance, business growth and stakeholder management positions him well to lead the bank into its next phase of expansion.
“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.”
As CEO, Mutiga will be responsible for driving Stanbic Bank Kenya’s growth strategy, strengthening customer experience and improving the lender’s overall financial performance.
The appointment comes at a time when the bank has continued to post steady financial growth. Stanbic Bank Kenya recorded a five percent increase in net profit to Sh3.5 billion during the first quarter ended March 2026, supported by higher net interest income, growth in lending and disciplined cost management.
The board said it is confident that Mutiga’s leadership and experience in strategy execution and business transformation will help accelerate the bank’s long-term growth plans.
“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,” the bank said.