Former Central Bank of Kenya (CBK) chairman Mohammed Nyaoga has been named the new chairman of Absa Bank Kenya, taking over the role on October 1. His appointment comes just six weeks after he joined the bank’s board as an independent non-executive director.
Nyaoga will succeed Charles Muchene, whose tenure as director and board chairman concludes on September 30 after serving the lender for nine years.
“The global, regional and local financial landscape continues to evolve, and I look forward to working with fellow Board members and the management team to advance our strategic priorities and deliver sustainable value to our customers, colleagues, shareholders and the communities we serve,” said Nyaoga in a statement on his appointment.
Muchene, reflecting on his departure, said it had been a privilege to guide Absa through a “period of change, growth and resilience.”
He added, “I am confident that the bank is strategically placed to continue its growth trajectory into the future. I would like to thank fellow board members and management for their trust and support throughout my tenure and wish them all the best as they continue to write Absa Kenya story.”
Nyaoga brings with him vast experience in banking and governance. He previously chaired the board of Ecobank Kenya from July 2014 before leaving to become CBK chairman in 2015, a position he held for eight years until his retirement in June 2023.
Beyond banking, Nyaoga has a distinguished legal career spanning more than four decades. He is the senior partner at Mohammed Muigai LLP and has held several regional and international leadership positions.
Earlier this year, he was appointed chair of the African Development Bank Group’s Disclosure and Access to Information Appeals Panel. In 2023, he also led the IMF external experts panel tasked with reviewing governance policies of central banks worldwide.
Nyaoga is also a corporate governance trainer for the IMF. He studied law at the University of Nairobi, earning both Bachelor and Master of Laws degrees, and holds a postgraduate diploma from the Kenya School of Law.
He is also a Certified Public Secretary.
