Johannesburg-born banker Kenny Fihla takes $7.6 million pay from Absa in 2025

Johannesburg-born banking executive Kenny Fihla took home a total remuneration of $7.62 million in 2025 from Absa Group, marking his first full-year compensation package after joining the pan-African lender from Standard Bank Group, where he exited in June 2025. The payout reflects the scale of his transition between two of the continent’s biggest financial institutions.

According to Absa’s executive directors’ remuneration disclosure, Fihla’s total remuneration for the year amounted to R128.04 million ($7.62 million). The figure was driven largely by buyout awards linked to incentives forfeited at his previous employer, alongside a mix of cash and share-based compensation structured around his move into the chief executive officer role.

Buyout awards anchor Fihla package

The breakdown of his Absa package shows a cash-based buyout award of R20.72 million ($1.23 million), paired with a share-based buyout award valued at R77.7 million ($4.62 million) on a face-value basis. His fixed remuneration for the year stood at R6.28 million ($373,700), covering salary and benefits such as medical aid, retirement contributions, and other standard employment-related allowances. His salary component alone was R5.7 million ($340,000).

Short-term incentives also formed a notable part of the package. Cash awards totalled R12.15 million ($723,000), while deferred share awards came to R11.15 million ($663,500), bringing total short-term incentives to R23.3 million ($1.39 million). Long-term incentives, including vested award values and dividend equivalents on vested awards, amounted to R8 million ($476,000), rounding out the broader compensation structure for the year.

Absa Group explained the composition of the payout, noting: “His cash-based buyout award in respect of forfeited share awards in his previous employer that had already vested is reflected as such in the table and was paid to him during 2025 upon joining the group. His share-based buyout award in respect of forfeited share awards at his previous employer are reflected.”

June 2025 exit reshapes compensation profile

Before joining Absa, Fihla’s remuneration at Standard Bank in 2024 totalled R67.3 million ($4 million), reflecting his role as deputy chief executive of Standard Bank Group and chief executive officer of Standard Bank South Africa prior to his exit in June 2025.

His earnings in 2025 from Standard Bank amounted to R5.15 million ($306,500), covering his final months as a prescribed officer. This included a salary of R3.94 million, employer retirement contributions of R388,000, and other benefits and allowances of R825,000 ($50,000), which also incorporated a leave payment of R746,000 ($44,400) due upon exit.

As part of his departure from Standard Bank, Fihla also forfeited his 2024 deferred incentive award when he left the group in June 2025, closing out his compensation ties with the lender as he stepped fully into his role at Absa. His 2025 remuneration profile reflects both the structural complexity of executive pay in large financial institutions and the cost associated with senior leadership transitions between major banking groups operating across Africa’s key markets.