Airtel Money Kenya has appointed Bonke Michael as Acting Managing Director, succeeding Anne Kinuthia-Otieno. The move places a long-serving internal executive at the head of one of Kenya’s major mobile-money platforms at a time when the business is preparing for a potential standalone listing.
Michael has spent nearly a decade at Airtel Money Kenya and more than 15 years in telecommunications and fintech. His previous roles covered sales, business development and marketing, giving him operational familiarity with agent networks, merchant partnerships and product development. In a statement he said he was honoured by the appointment and looked forward to working with the team to maintain momentum and deliver on strategic priorities.
The leadership change comes after a period of solid growth for the Kenyan business. For the 2025 financial year, Airtel Money Kenya’s total income rose to KES 1.68 billion from KES 1.09 billion the year before, while profit after tax nearly doubled to KES 143 million. Across Airtel Africa, mobile-money revenue grew 25.8% in the year ended June 2026, with the customer base reaching 56.5 million and annualized transaction values exceeding $245 billion.
Airtel Africa has been preparing a potential London listing of its mobile-money operations that could value the wider Airtel Money business at around $10 billion. Appointing an experienced insider rather than an external candidate signals a preference for continuity while the company continues to expand its financial-services offerings and strengthen governance ahead of any public-market debut.
Kenya’s mobile-money market has matured beyond basic customer acquisition. Subscriptions stand at more than 53 million, and competition increasingly centres on deeper services such as savings, merchant payments, insurance and SME tools. Airtel Money has been building partnerships, including an arrangement with KCB Bank that expands agent access, and recently launched Bizna Wallet, a dedicated business wallet aimed at micro and small enterprises.
Michael inherits a platform that has improved its financial performance and broadened its ecosystem, yet still operates in a highly competitive environment dominated by Safaricom’s M-Pesa. His immediate task is to sustain growth in engagement and merchant adoption while navigating the operational and regulatory demands that accompany any future listing. The acting nature of the role leaves open the possibility of a permanent appointment or further leadership adjustments as the business evolves.
