Anne Kinuthia Otieno Resigns as Airtel Money Kenya MD Ahead of Airtel Africa’s London IPO

Anne Kinuthia Otieno has stepped down as Managing Director of Airtel Money Kenya after nearly five years in the role, leaving the company just months before parent company Airtel Africa moves ahead with plans to list its mobile money business on the London Stock Exchange.

Her departure marks the latest in a series of senior executive changes across Kenya’s mobile money industry, coming only weeks after Airtel Kenya appointed a new managing director and days after Safaricom announced the exit of its top financial services executive.

Kinuthia Otieno confirmed her resignation in a LinkedIn post on 25 July, revealing that she was preparing to begin a new chapter in her career, although she did not disclose her next destination.

“Together with an incredible team, we strengthened Airtel Money’s position in the market,” she wrote, highlighting the expansion of Airtel Money’s merchant and agent network, the establishment of new strategic partnerships, and the complete overhaul of the company’s core mobile money platform.

Kinuthia Otieno joined Airtel in August 2021 after more than a decade in the banking sector, where she held senior governance and sales distribution roles at Absa Group and spent more than seven years at Barclays.

During her leadership, Airtel Money significantly strengthened its position in Kenya’s highly competitive mobile money market. In September 2021, the platform accounted for 3.1% of mobile money subscriptions, compared with M-PESA’s 96.8%. By March 2026, Airtel Money had increased its market share to 10.9%, while M-PESA’s share declined to 89.1%.

Kenya recorded 53.4 million active mobile money subscriptions at the end of March 2026, pushing mobile money penetration beyond 100%.

The leadership transition comes at a critical period for Airtel Africa. On 23 July 2026, the telecommunications group confirmed London as the venue for the planned initial public offering (IPO) of Airtel Money, targeted for the second half of the year.

At the end of June, Airtel Money served 56.5 million customers across Africa, representing a 23.3% year-on-year increase. The platform also recorded an annualised transaction value exceeding $245 billion.

The executive reshuffle extends beyond Airtel Money Kenya. On 1 July 2026, Djibril Tobe succeeded Ashish Malhotra as Managing Director of Airtel Kenya after previously leading the company’s operations in Congo Brazzaville and Chad. Malhotra has since taken up responsibility for Indus Towers’ African operations.

Airtel Money Kenya has operated as an independent entity since 2022, when Airtel Africa transferred its mobile money operations into a standalone company regulated by the Central Bank of Kenya.

Meanwhile, Safaricom is also undergoing significant leadership changes. Chief Financial Services Officer Esther Waititu is set to leave the company on 31 July 2026, with Boniface Mungania appointed interim Chief Financial Services Officer. Her departure follows the earlier exit of Sitoyo Lopokoiyit, former Managing Director of M-PESA Africa, who joined Absa Group.

Kinuthia Otieno’s resignation highlights the ongoing leadership reshuffle across Kenya’s mobile money sector as operators intensify competition and reposition for the next phase of growth. With Airtel Africa preparing for a landmark London IPO and Safaricom navigating its own executive transitions, new leadership will play a pivotal role in shaping innovation, regulatory compliance and regional expansion in one of Africa’s most dynamic digital payments markets.