After nearly a decade at the helm of Absa Bank, CEO and Managing Director Jeremy Awori will leave the financial institution in October. Awori takes on a new role as CEO of pan-African lender Ecoboank Group as current CEO Ade Ayeyemi retires.
Awori’s career in banking spans over 25 years. He joined Absa Bank in 2013 when it was still operating as Barclays Bank Kenya. One of the most important milestones under Awori’s leadership was the rebranding of Barclays Bank to Absa. The branding that led to the company changing its colors and identity came after Barclays PLC reduced its stake in the Absa Group from a 62.3% majority to a 14.9% minority in 2017,
But the rebranding process was only one of Awori’s trophies. Under his leadership, Absa has invested heavily in technology, forging strategic partnerships with players in the ecosystem.
In March 2018, Absa launched its digital app known as “Timiza” – Swahili to reach – and quickly saw customers on board. By the end of that year, the company’s app had registered 3 million users, while loans amounted to KES 10 billion.
“We’ve seen our app grow by leaps and bounds. We’re now just under 5 million [Timiza] customers, and we are really looking forward to increasing that number in the future,” Awori said at the time. The app is linked to M-pesa, allowing users to easily transact from their mobile wallets.
This year, Absa announced an investment of KES 2 billion in technological advancements aimed at improving the customer experience. Part of the investment would go into creating an online platform where customers could quickly open a bank account.
“These digital enhancements fuel Absa’s digital innovation strategy which aims to improve the customer experience and promote financial access,” said Awori.
Another strategic initiative by Absa under Awori’s leadership was a partnership with remittance company Visa to launch cross-border remittance services under the Absa Visa Send Money platform.
Through this partnership, customers can use Visa debit and credit cards to transfer funds from Absa’s mobile banking app to any part of the world.
“This partnership is about delivering digital solutions and we will continue to provide services that meet our consumers’ growing expectations for seamless and secure ways to transfer money globally.”
The 51-year-old banker is leaving the institution after leading it to massive adoption of technology, making it highly competitive in modern banking.
As he takes up his new role at the Togo-headquartered lender, Mr. Awori said he looked forward to “consolidating Ecobank’s transformation while innovating to create value for all stakeholders. of Ecobank”.
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