Anne Kinuthia Otieno has stepped down as managing director of Airtel Money Kenya. She led the mobile money business for nearly five years. Her exit comes just months before parent company Airtel Africa plans to list the unit on the London Stock Exchange, according to TechCabal.
Her departure follows a separate leadership change at Airtel Kenya’s telecoms arm. On July 1, Djibril Tobe took over as managing director there, replacing Ashish Malhotra. Malhotra has since moved on to lead Indus Towers’ operations across Africa. Tobe previously ran Airtel’s businesses in Congo Brazzaville and Chad. Airtel Money Kenya has operated as a standalone company since 2022. That year, the group spun off its mobile money arm from the main telecoms business. It now answers directly to the Central Bank of Kenya.
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The timing is notable. Kinuthia Otieno’s exit adds her name to a growing list of executive changes at Kenya’s two biggest mobile money players this month. Safaricom is also losing a senior finance executive. Chief financial services officer Esther Waititu will leave on July 31 after nearly three years in the role. Safaricom announced on July 20 that Boniface Mungania would step in as interim chief financial services officer. That move follows the earlier exit of Sitoyo Lopokoiyit, former managing director of M-Pesa Africa, who has since joined Absa Group.
Kinuthia Otieno shared the news herself in a LinkedIn post over the weekend. She said she was preparing for a new chapter but did not reveal what comes next. However, she credited her team for growing Airtel Money’s footprint in the market. She pointed to a wider merchant and agent network, along with new partnerships built during her time in charge.
Meanwhile, her exit lands at a sensitive moment for Airtel Africa. The group recently confirmed London as its preferred venue for listing Airtel Money. This came alongside its financial results for the year ended June 30, 2026. Airtel had originally hoped to complete the float in the first half of the year. Instead, it pushed the listing back in May, citing unfavourable market conditions linked to geopolitical developments. Reports suggest the offering could raise around $1.5 billion. They also suggest a valuation close to $10 billion for Airtel Money. Still, Airtel Africa has not confirmed either figure.
Airtel Africa chief executive Sunil Taldar has said a London listing would give the fintech unit access to a wider pool of international investors. In his view, this would help unlock its long-term value as one of Africa’s leading mobile money platforms. Today, Airtel Money serves more than 56 million customers across 14 African countries. East Africa remains its largest market by both customer numbers and revenue. Kenya, where Airtel Money continues to compete against Safaricom’s dominant M-Pesa, stays firmly in focus as the company heads toward its stock market debut later this year.
