10 female CEOs redefining Africa’s banking industry

Africa’s banking industry is entering a new phase of leadership as a growing number of women take charge of some of the continent’s biggest and fastest-growing financial institutions. 

From FirstRand in South Africa to Zenith Bank in Nigeria, Bank of Kigali in Rwanda and KCB Bank Kenya in Kenya, female chief executives are steering lenders through a period marked by higher borrowing costs, tighter regulations, digital disruption and changing customer expectations. 

Their rise reflects a broader shift across Africa’s financial sector, where banks are investing heavily in mobile banking, regional expansion, fintech partnerships and corporate lending to sustain growth in increasingly competitive markets. 

Several of the continent’s top lenders have posted stronger earnings over the past year, supported by rising transaction volumes, resilient lending margins and growing demand for digital financial services. 

Institutions led by executives such as Mary Vilakazi, Adaora Umeoji, Diane Karusisi and Nneka Onyeali-Ikpe are increasingly attracting investor attention for balancing profitability with expansion across retail, corporate and cross-border banking. 

The leadership shift is helping reshape the industry’s future as African banks adapt to rapid technological change, rising financial inclusion and stronger demand for sustainable and trade finance solutions.

Below is Shore Africa’s list of 10 women leading some of Africa’s most influential banks and helping reshape the continent’s banking landscape.

1. Mary Vilakazi – FirstRand (South Africa) 

Mary Vilakazi leads FirstRand, one of Africa’s largest financial services groups with operations in South Africa, select African markets and the United Kingdom. 

Appointed in April 2024, she became the first woman to head the group, which includes First National Bank, Rand Merchant Bank and WesBank. Her elevation followed a long career across auditing, insurance and financial services. 

For the six months to December 2025, FirstRand reported normalized earnings of R23.2 billion ($1.41 billion), up 11%. Net interest income rose 8%, while non-interest revenue increased 12%. Total assets climbed to R2.68 trillion ($163 billion) from R2.54 trillion ($154.5 billion) a year earlier, reflecting steady balance-sheet expansion despite a mixed global environment.

2. Adaora Umeoji – Zenith Bank (Nigeria) 

Adaora Umeoji became group managing director of Zenith Bank in June 2024 after nearly three decades in the industry. 

Under her early leadership, the bank crossed the N5 trillion market valuation mark and met the Central Bank of Nigeria’s new capital requirement of N500 billion ($370 million) for international authorization. Zenith has also expanded regionally, including the acquisition of Paramount Bank in Kenya and a new branch in Manchester, United Kingdom. 

The lender is preparing for a potential London Stock Exchange listing by 2027. Its network now spans 456 branches, 2,148 ATMs and more than 473,000 point-of-sale terminals. 

For 2025, Zenith reported profit after tax of N1.04 trillion ($754 million), a marginal increase from the previous year, while total assets rose to N31.46 trillion ($22.8 billion).

3. Diane Karusisi – Bank of Kigali (Rwanda) 

Diane Karusisi has led Bank of Kigali since 2016, overseeing its shift toward a more technology-driven financial group. 

The lender, Rwanda’s largest bank, has expanded into insurance, investment services and digital financial platforms under her tenure. It operates 68 branches, 95 ATMs and more than 1,400 agents. 

For 2025, Bank of Kigali reported a 15.8% rise in total assets to over RWF2.9 trillion ($2 billion). Profit climbed above RWF110.1 billion ($75.3 million), reflecting stronger lending activity and improved efficiency across its operations.

4. Patience Mutesi – BPR Bank Rwanda (Rwanda) 

Patience Mutesi heads BPR Bank Rwanda, the country’s second-largest lender by assets. 

She assumed leadership in February 2023 following the bank’s integration into KCB Group. BPR now operates as part of a larger East African banking network after the merger of Banque Populaire du Rwanda and KCB Bank Rwanda. 

The bank serves more than 900,000 customers through over 80 branches. It reported net interest income of RWF95.94 billion ($65.7 million) and profit of RWF40.89 billion ($28 million) in its latest full-year results, supported by a wider customer base and tighter cost controls.

5. Nneka Onyeali-Ikpe – Fidelity Bank (Nigeria) 

Nneka Onyeali-Ikpe has led Fidelity Bank since 2021, becoming the first woman to hold the role. 

The lender has expanded its corporate and retail banking presence while strengthening cross-border services, including a UK subsidiary, FidBank UK Limited. Fidelity serves more than 10 million customers through over 250 branches and digital channels. 

For the nine months to 2025, the bank posted total income of N1.11 trillion ($824 million) and profit after tax of N211.7 billion ($157 million). Total assets rose to N10.5 trillion ($7.8 billion), driven by growth in lending and investment securities.

6. Annastacia Kimtai – KCB Bank Kenya (Kenya) 

Annastacia Kimtai became the first woman to lead KCB Bank Kenya, the country’s largest commercial banking unit of KCB Group. 

She oversees more than 3,800 employees across 207 branches and a large agent network serving over 52 million customers, including Kenya’s government-backed financial inclusion programs. 

In 2024, KCB Bank Kenya disbursed $402 million in green financing, lifting its sustainable loan portfolio to 21.3% of total lending. The bank continues to focus on digital expansion and SME financing, alongside its dominant retail banking operations.

7. Nasim Devji – Diamond Trust Bank (Kenya) 

Nasim Devji has led Diamond Trust Bank since 2001, making her one of East Africa’s longest-serving bank executives. 

She has overseen the lender’s expansion across Kenya, Uganda, Tanzania and Burundi, while maintaining a focus on retail and SME banking. DTB now serves 4.5 million customers and operates 157 branches across the region. 

For 2025, the bank reported profit growth of 21% to KSh10.7 billion ($83 million), with total assets rising 15% to KSh659.1 billion ($5 billion). The group has recently streamlined its footprint, including the sale of its Burundi operations to sharpen focus on core markets.

8. Mansa Nettey – Standard Chartered Ghana (Ghana) 

Mansa Nettey became chief executive of Standard Chartered Ghana in 2017, becoming the first woman to lead the bank in its more than 120-year history in the country. 

She oversees operations spanning corporate, retail and commercial banking, with a focus on capital markets, risk management and digital transformation. Standard Chartered Ghana remains one of the country’s oldest and most established financial institutions. 

The bank has maintained strong corporate banking performance while navigating Ghana’s recent debt restructuring and broader macroeconomic adjustments. It has also increased investment in digital and wealth management services.

9. Mizinga Melu – Absa Bank Zambia (Zambia) 

Mizinga Melu has led Absa Bank Zambia since 2017, bringing more than 25 years of banking experience across Africa. 

She previously held senior leadership roles at Standard Chartered, becoming one of the few women to run multiple country operations within the bank’s African network. 

Absa Zambia has expanded its corporate lending and digital banking services, supported by growth in Zambia’s mining sector and increasing demand for cross-border trade finance. The bank operates as part of Absa Group, which has a presence in 12 African markets.

10. Lina Mukashyaka Higiro – NCBA Bank Rwanda (Rwanda) 

Lina Mukashyaka Higiro has led NCBA Bank Rwanda since 2018, focusing on digital banking and corporate finance growth. 

The bank has expanded partnerships in fintech and mobile financial services, aligning with Rwanda’s broader push toward a cash-light economy. It continues to build on its parent group’s regional strategy across East Africa. 

Under Higiro’s leadership, the Rwanda subsidiary has steadily increased its market presence in both retail and corporate segments.