Veteran digital banker Eric Muriuki has left NCBA Group to join Absa Group in a senior position. He will be based in Johannesburg as Managing Executive for Pan-African Growth Strategy, Platforms and Digital Ventures. Muriuki's departure from NCBA marks the end of a 19-year stint that began in July 2007. During his time at NCBA, he held several senior positions, including Programme Director, Enterprise Transformation; General Manager, New Business Ventures; and Group Director, Digital Business and CEO of the neobank LOOP DFS.
Muriuki's career in the banking sector spans over two decades. Before joining NCBA in 2007, he worked at Citi Kenya from 1999 to 2004 as Business Systems Manager. He then moved to Co-operative Bank of Kenya, where he served as Business Change Manager until mid-2007. His experience in the banking sector has equipped him with the skills to drive digital growth and transformation. Muriuki is credited with designing the trust-account structure that enabled Safaricom's M-PESA to issue electronic money with regulatory approval.
During his tenure at NCBA, Muriuki played a key role in developing and launching several innovative digital products. He helped create M-Shwari, a mobile savings and micro-loan product, and launched Fuliza, a widely used mobile overdraft service. Under his leadership, LOOP DFS expanded beyond Kenya into other regional markets. This experience is expected to be valuable in his new role at Absa, where he will lead the company's pan-African digital expansion.
Muriuki's new role at Absa combines growth strategy, platform development, and digital ventures. This aligns with his track record of building high-volume, low-value financial products for mass markets. His expertise in designing and launching digital products will be crucial in driving Absa's digital growth strategy across Africa. Absa intends to leverage Muriuki's experience in expanding LOOP DFS into other regional markets.
Muriuki's departure from NCBA has been seen as a significant loss for the company. However, his new role at Absa presents an opportunity for him to drive digital growth and transformation on a larger scale. His experience and skills will be valuable in helping Absa achieve its goals in the digital space. Muriuki's LinkedIn profile indicates that he started his new role at Absa this month.
The appointment of Muriuki as Managing Executive for Pan-African Growth Strategy, Platforms and Digital Ventures at Absa is a strategic move. It reflects the company's commitment to driving digital growth and transformation across Africa. Muriuki's expertise and experience in the digital banking space make him well-suited for this role. He will play a key role in shaping Absa's digital strategy and driving growth.
Muriuki's career has been marked by several notable achievements. He has played a key role in developing and launching several innovative digital products, including M-PESA, M-Shwari, and Fuliza. His experience in driving digital growth and transformation will be valuable in his new role at Absa.
Key points
- Eric Muriuki has left NCBA Group to join Absa Group as Managing Executive for Pan-African Growth Strategy, Platforms and Digital Ventures.
- Muriuki has 19 years of experience in the banking sector, including his time at NCBA Group, Citi Kenya, and Co-operative Bank of Kenya.
- He will be based in Johannesburg and will drive Absa's pan-African digital expansion.
