Absa Bank Kenya has appointed former Central Bank of Kenya (CBK) chairman Mohammed Nyaoga as the new chairman of its Board of Directors, effective October 1.

He takes over from Charles Muchene, who exits after serving the maximum nine-year term.

Nyaoga, a Senior Counsel with more than 40 years of experience in law, finance, and governance, previously chaired the CBK, EcoBank Kenya, and the International Monetary Fund (IMF) External Experts Panel in Washington.

He also serves as chair of the African Development Bank Group’s Disclosure and Access to Information Appeals Panel.

An accredited corporate governance trainer for more than two decades, Nyaoga has facilitated board training sessions in Kenya and abroad, including programs by Central Banking Publications in the UK and IMF regional forums.

He has also been honored with the Elder of the Order of the Burning Spear (EBS) award for his service to the country.

In his farewell note, Muchene said it had been a privilege to guide the bank through a period of change and growth, expressing confidence that Absa is well placed for the future.

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Nyaoga pledged to work with the board and management to advance Absa’s strategic priorities and deliver long-term value for stakeholders.

The leadership change comes at a time when Kenya’s financial sector continues to face shifting global and local headwinds, from economic uncertainty to regulatory reforms.