|
Getting your Trinity Audio player ready...
|
Members of the Uganda Bankers’ Association (UBA) held their annual general meeting on the 17th May 2024 and elected Mr. Julius Kakeeto, as the Association’s new Chairman.
He replaces Ms. Sarah Arapta whose two-year term of office (2021 & 2023) has elapsed.
Mr. Kakeeto is the Chief Executive Officer of Post Bank Uganda and has been serving as the Vice Chairperson for two years (2021 & 2023)
Other members elected on the Executive Committee of UBA are Michael Mugabi, the CEO of Housing Finance Bank as the Vice Chairman; Edgar Byamah, the CEO of KCB Bank, as the Treasurer and Mumba Kalifungwa, the CEO of Absa Bank as Auditor.
Sanjay Rughani, the CEO of Standard Chartered Bank; Patricia Ojangole, the CEO of Uganda Development Bank and Shafi Nambobi, the CEO of UGAFODE were elected Committee Members.
The UBA Executive Director, Wilbrod Owor serves as the Secretary to the Executive Committee.
Uganda Bankers’ Association is an umbrella organisation for financial institutions licensed and supervised by the Bank of Uganda. UBA was established in 1981 and is currently made up of 36 members comprising 25 commercial banks, 3 development banks (Uganda Development Bank, East African Development Bank & Afreximbank and 8 Tier 2 &Tier 3 (MDIs and MFIs).
In her remarks, Sarah Arapta, highlighted fraud, tax administration and dispute management issues as some of the key challenges the industry was facing and called upon the new leadership to continue ongoing efforts to address these issues.
She also called upon the new leadership and members of UBA, to continue to nurture the industry gender initiatives of the UBA Women Economic Empowerment Programme, focusing on both female staff and entrepreneurs.
Regardless of the challenges, she said the sector had registered key growth underpinned by:
- Growth in total assets by 8% from UGX45.8 trillion in 2022 to UGX49.5 trillion in 2023.
- Growth in customer deposits from UGX31.5 trillion in 2022 to UGX33.96 trillion in 2023, an increase of 7.8%.
- Growth in industry loans by 7.6 % from UGX19.6 trillion in 2022 to UGX21.1 trillion in 2023. The top five sectors’ credit portfolio made up 89.1% of the total industry loan book. These sectors are household and personal loans (UGX4.85 trillion), real estate (UGX4.31 trillion), trade (UGX3.72 trillion), manufacturing (UGX2.89 trillion) and agriculture (UGX2.53 trillion).
- Industry access channels, especially agent banking points across the country increased to 33,437 bank agents by the close of 2023 while ATMs grew to 984 ATMs and branches stood at 856.
Sarah Arapta also noted that the industry tax contribution rose to UGX1.29 trillion in 2023 up from UGX1.08 trillion in 2022 and the contribution to NSSF increased to UGX157.3 billion up from UGX131 billion.
Industry spending on ICT increased to UGX694 billion in 2023 up from UGX392 billion.
The sector as at the end of 2023, employed 19,428 people (53% female and 47% male).