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ABDI MOHAMED
MANAGING DIRECTOR & CEO, ABSA BANK KENYA
One thing you instantly notice about Abdi Mohamed when he talks about his work is that his world is coloured in numbers. Whether the Absa Bank Kenya Managing Director (MD) and CEO is talking about customer reach, brand awareness, or business environment, he will litter his speech with figures, time stamps, percentages, ratings, and profit margins as if it’s the most natural thing to do.
“I am much more of a logical thinker. In school, I leaned towards Maths and Sciences,” Abdi, who was appointed in early 2023, shared in a past interview. He spoke about his journey as a top student, hailing from the far-flung Garissa County, and being one of the few from his family and region to make it to university.
The other thing that Abdi holds dear is the power of people. Whether they are family, colleagues, customers, mentees, friends, or stakeholders, Abdi believes in the power of collaboration and building trust.
“I appreciate that life is more complex, that people are driven by different motivations, and that there are various ways of doing things. Similarly, people make different choices for different reasons. Over the course of my 30 years in banking, I have learned important lessons about how to treat and work with others,” he says. He has also realised that, at times one needs to let go and relax.
“There is a common belief in the corporate world that you cannot be tough and kind simultaneously, but I disagree. You can be tough on your numbers, your goals, and everything you need to achieve while still being kind to people. It is not a contradiction,” says the father of six, who describes his wife as the pillar of their family. He also expresses gratitude to his 80-year-old mother for her unwavering love, trust, and belief in him.
Abdi’s logical mindset and trust in people have enabled him to both see the big picture and lead the bank from a strategic vantage point, while also excelling as a transformational leader in society. Recent business figures reinforce his leadership. In the six months leading up to June 30, 2024, Absa Kenya reported a 29 percent increase in profit after tax, reaching KES 10.7 billion, compared to the same period last year.
“Four years after the launch of the Absa brand, awareness levels are now in the 90s, and customer and stakeholder relevance doubled in 2023, reaching the 40 percent range. There is nothing better you can do for the brand than to serve your customers well and keep your promises to them,” Abdi recently told a newspaper.
Considering the challenges in the micro and macro environment, precipitated by the after-effects of the COVID-19 pandemic and changing customer needs, Abdi’s prowess in steering the bank over the last year has been nothing but impressive.
Currently, the CEO is in the second year of implementing a five-year business strategy focused on strengthening the retail business and gaining a foothold in the mass market. “In 2023, we disbursed KES 147 billion, cutting across consumer banking, business banking, and corporate segments. Of that, KES 20 billion went to small and medium-sized enterprises (SMEs), with a particular focus on women-led SME businesses. We are committed to disbursing KES 100 billion in this space over the next three years, and at the current pace, we look set to achieve that target,” says Abdi, who highlights digitisation as a key enabler.
To crown his leadership, the CEO was recently recognised for building the Absa brand by the African Brand Leadership Award 2024 in the Business Leader category.
Born into a pastoralist lifestyle to a homemaker mother and a policeman father, Abdi remembers a childhood surrounded by nature where… “I had great fun, lots to do in the fields looking after cows.” He recalls nursing different ambitions at different times. At one point, he aspired to become a policeman like his father, whom he greatly admired. However, his path shifted when he developed a passion for teaching.
“I had a teaching stint after I enrolled at Kenyatta University (KU) for my Bachelor of Commerce (BCom) degree. At the university, I started thinking about management leadership. A lot of people would come to talk to us, and I thought it was an incredible field,” he said in a past interview.
It was while studying commerce that Abdi understood his passion for people. “The thought of working with people who deliver goals by helping individuals and organisations grow, excited me,” he shared in a past Business Daily interview.
Committed to being the best, Abdi now holds a Master of Business Administration (MBA) degree from Edith Cowan University, Australia, with an Advanced Management Program at IMD Business School, Switzerland.
Before his current role, Abdi served as the Managing Director (MD) of Absa Bank Tanzania and acted as the Managing Executive for Retail and Business Banking, overseeing operations across various African regions where Absa operates. His comprehensive expertise was also demonstrated as the Chief Operating Officer (COO) for the bank in Kenya.
Beyond his executive responsibilities, Abdi is an influential figure in the banking community. He actively contributes to the banking industry’s progress as a member of the Kenyan Bankers Association Governing Council. He is also a board member at UN Global Compact Network Kenya, where he champions the principles of responsibility, corporate citizenship and sustainability.
Notably, beyond the Bank’s bottom line, Abdi is also contemplating his legacy, believing that mentorship of the next generation is key. “I’ve always thought about how to be more impactful in society beyond profits and corporate life. In this season, as I operate as a CEO, that is probably the biggest area where I still feel I can move the dial and have an impact on a more substantive scale, whether it is in the fields of education, entrepreneurship, or the training of young people,” he says, emphasising his pursuit of excellence and not perfection.
Abdi is already engaging young people by connecting with college students. “It is important for people like me and others before me to say, ‘I was there, and I brought people along with me,’” he surmises.
AUTHOR: ABSA BANK KENYA
EDITOR: HANS ARDEN
