- Stanbic Bank appoints Michael Mutiga as CEO, effective August 1, subject to CBK approval.
- Mutiga joins from Safaricom after senior banking roles at Citibank and Barclays.
- He succeeds acting CEO Abraham Ongenge following Joshua Oigara’s regional promotion
Stanbic Bank Kenya has appointed Michael Mutiga as its new Chief Executive Officer (CEO), effective August 1, 2026, ending months of speculation over who would permanently lead the bank following Joshua Oigara’s promotion earlier this year.
The Board of Directors said the appointment is subject to regulatory approval from the Central Bank of Kenya (CBK), a routine step required whenever a new chief executive takes charge of a licensed lender.
Mutiga joins Stanbic from Safaricom Plc, where he served as Chief Business Development and Strategy Officer, a role he took up in 2022 after the retirement of Joe Ogutu. At Safaricom, he helped steer strategy as the telecommunications firm expanded M-PESA into lending, savings, insurance and investment products, deepening its overlap with traditional banking.
Before Safaricom, Mutiga spent about 15 years at Citibank. He held senior roles including Managing Director and Head of Corporate Banking in Nairobi, before moving to Johannesburg as Managing Director and Head of Corporate Finance for Sub Saharan Africa, a position he took on in 2019. His banking career began even earlier, at Barclays, where he worked as a manager in Johannesburg between 2002 and 2006.
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He holds a Master of Laws (LLM) degree from Temple University’s James E. Beasley School of Law in the United States, which he completed in 2003, and a Bachelor of Laws (LLB) from the University of Nairobi, where he graduated with honours in 1999. He is also an advocate of the High Court of Kenya and a Certified Public Secretary (CPS).
Stanbic said Mutiga’s record has earned him multiple industry accolades, including five Corporate Banker of the Year awards.
The Board said it was confident Mutiga’s experience in banking strategy and transformation would position Stanbic Bank for its next phase of growth.
Mutiga takes over from Abraham Ongenge, who has served as acting Chief Executive since March 1, 2026. Ongenge stepped into the interim role after Oigara, who had led Stanbic Bank Kenya since December 2022, was promoted to regional chief executive for East Africa within the Standard Bank Group, and later took charge of the bank’s listed parent company, Stanbic Holdings Plc.
The Board thanked Ongenge for providing steady leadership during the transition and said he would return to his substantive role as Head of Private and Personal Banking, continuing to play a part in the bank’s growth agenda.
By Benedict Aoya
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