Absa CEO Kenny Fihla prioritizes retail banking revamp with digital innovation and AI to boost customer engagement in South Africa and across Africa.
Expansion plans include Ghana, Kenya, Mozambique, and possible new entries in Nigeria and Tanzania as Absa strengthens its pan-African footprint.
Absa posts 2.78 billion H1 2025 revenue, up 8.6, with 670.7 million earnings fueled by retail banking growth and green finance partnerships.
South African executive Kenny Fihla, the CEO of Absa Group, is steering the Johannesburg-based financial services provider toward a renewed focus on retail banking across the continent. His appointment in June 2025 brought a measure of stability after the lender cycled through five chief executives since Maria Ramos retired in 2019 .
Absa, which separated from former parent Barclays in 2020, has struggled in recent years with uneven leadership and slow adoption of new technologies. Fihla, a former Standard Bank executive, says revamping the retail arm is now central to the groups recovery. Our retail business was effectively trapped in a time when others were innovating, he said in an interview. Were beginning to see early wins, with more clients engaging on our digital platforms.
Retail banking revamp and digital pushOne of Fihlas first moves was to undo a plan by his predecessor, Arrie Rautenbach, to split Absas retail division into three separate units. Instead, he merged them to simplify execution and focus resources. The bank is now prioritizing mobile and digital channels, embedding artificial intelligence, and offering more value-added services such as financial coaching tools and an improved rewards program.