Nairobi, April 22 -- Absa Bank of Kenya is ramping up investment in technology, with up to Sh3 billion annual spending to anchor its digital strategy amid growing customer preference for mobile-based banking services.

The lender, which has been diversifying into new lines such as bancassurance and asset management while investing in technologies that enable out-of-branch services, says it has set its annual technology spending at between Sh2 billion and Sh3 billion as part of its strategy to accelerate digital transformation.

"Typically, we now do Sh2 billion to Sh3 billion of investments per year [in technology], and 2025 was no different in ensuring we are migrating transactions to digital platforms. We are making it easier for our cu...