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On 17th of May 2024, members of the Uganda Bankers Association (UBA) held their Annual General Meeting where Mr. Julius Kakeeto was elected as the new Chair taking over from Ms. Sarah Arapta who served for a two-year term of office (2021 & 2023).
Mr. Kakeeto, Chief Executive Officer, POST BANK UGANDA who previously served as the UBA Vice Chairperson for two years (2021 & 2023) is joined by other members elected on the executive committee who include;
• Mr. Michael Mugabi, CEO, Housing Finance Bank, Uganda as Vice Chair.
• Mr. Edgar Byamah, CEO KCB Bank UG as Hon. Treasurer
• Mr. Mumba Kalifungwa, CEO, Absa Bank Uganda as Hon. Auditor.
• Mr. Sanjay Rughani, CEO, Standard Chartered BANK as Committee Member.
• Ms. Patricia Ojangole, CEO Uganda Development Bank as Committee Member.
• Mr. Shafi Nambobi, CEO, UGAFODE Microfinance Limited (MDI), as Committee Member.
The Executive Director Mr. Wilbrod Owor serves as secretary to the Executive Committee.
The new leadership assumes responsibility at a time when the industry has registered growth in total assets of the banking industry by 8% from UGX 45.8 trillion in 2022 to UGX 49.5 trillion in 2023, customer deposits increased from UGX 31.5 trillion in 2022 to UGX 33.96 trillion in 2023 representing a growth of 7.8%, industry access channels, especially agent banking points across the country increased to 33,437 bank agents by close of 2023, the industry further operated 984 ATMs and 856 branches.
Industry gross loans also increased by 7.6 % from UGX 19.6 trillion in 2022 to UGX 21.1 trillion in 2023 with the top five sectors’ credit portfolio by member financial institutions making up 89.1% of the total industry loan book. These sectors included household and personal loans (UGX 4.85 trillion), real estate (UGX 4.31 trillion), trade (UGX 3.72 trillion), manufacturing (UGX 2.89 trillion) and agriculture (UGX 2.53 trillion). #UBAAGM