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Of this, MTN Mobile Money (U) Limited (MTN MoMo) the fintech subsidiary of MTN Uganda, Uganda’s largest telco commanded a lofty market share of 12.36 million active customers (56% market share). MTN MoMo also commands a larger share of agents, value of transactions and agents as well. But even with market dominance, Richard Yego, the fintech’s Chief Executive Officer believes that they are yet to maximise their full purpose⏤ Everybody deserves the benefits of a modern connected but also financially inclusive life.
“We are hungry for more,” he says.
To fully deliver on the business goals of “creating a marketplace that supports cashless and digital economies through affordable, inclusive, understandable, and comprehensive financial services”, the fintech has over and above investing in the right technology and partnerships also assembled an experienced team of executives to dial up that agenda.
Meet the MTN MoMo dozen of fluent-in-fintech executives leading this mission to go for Mo⏤ Mo partnerships within the financial services and technology ecosystems; Mo payments, remittances savings and lending as well as insurtech solutions, all of which should lead to Mo shared growth and prosperity for the company, its partners and its customers.
Richard Yego
Managing Director
Richard is the inaugural Chief Executive Officer of MTN Mobile Money (U) Limited, a position he has held for the past two years. With over 19 years of experience in banking and digital financial services, he has dedicated his career to making a significant impact in the communities through the enhancement of access to formal financial services. His work focuses on driving the scaling of the adoption of financial services through digital channels, aiming to foster financial inclusion and empower individuals and businesses.
In 2023, Richard’s leadership and contributions to the industry were recognised when he was named CEO of the Year by the Digital Impact Awards Africa. Before his current role, he served as the pioneer Chief Executive Officer of the Agent Banking Company of Uganda, where he successfully rolled out the interoperable shared agent banking platform, greatly expanding access to banking services.
ABC is an interoperable technology platform company, owned by banks in Uganda through their umbrella body, the Uganda Bankers Association (UBA). Before being elevated to Managing Director at ABC, Richard was between February 2018 and March 2019 ABC’s Commercial Director.
“I am passionate about creating financial empowerment and advancing digital literacy, particularly in underserved and unserved communities,” he says.
Before ABC, he played various roles within Airtel Money, including Ag. Director, Airtel Money Operations Director, and Settlements Manager. Before Airtel Money, he worked for Standard Chartered Bank and Centenary Rural Development Bank Limited.
Outside of his professional endeavours, he enjoys tourism, and building friendships and is deeply committed to the empowerment and growth of people. His work continues to drive positive change and promote financial inclusion across diverse communities.
Jemima Kariuki
Chief Products Officer
Jemima is a seasoned digital product management professional with over 15 years of experience working with teams to ideate, build and roll out digital mobile-based products in emerging markets.
She is currently the Chief Products Officer at MTN MoMo, and her experience encompasses ideation, strategy formulation, product design, development and management, project management, go-to-market planning and commercialisation.
Before joining MTN MoMo, Jemima worked at Mastercard as Director, Product Development, Products and Innovation as well as at Visa Inc as Director, Emerging Markets, Digital Product Management. Prior to that, she worked at Airtel Kenya in various fintech product development roles.
Alex Wekoye
Chief Commercial Officer
Alex is currently the Chief Commercial Officer of MTN MoMo. He possesses significant C-Suite commercial experience garnered from telco and downstream oil and gas industries across various African markets.
Before joining MTN MoMo, Alex was the Chief Commercial Officer for Digitel South Sudan, Commercial Director for Africell Uganda, as well as Commercial Director for Viva Cell (South Sudan). Before that, he worked at Airtel Seychelles in various roles, rising to become Ag. Marketing Director. Before joining the telco industry, he worked in the downstream oil and gas industry, for Shell Uganda.
“I am obsessed with customer-centricity, empathetic leadership and ruthless execution in driving results. I am also a firm believer in employee mentorship in building a sustainable enterprise,” he describes himself.
Sarah Bateta Okwi
Chief Financial Officer
Sarah is a highly motivated and market-driven finance professional with over 20 years of experience in telecoms, consulting and financial services industries in both the Uganda and Rwanda markets.
She holds invaluable experience in working with both corporate and non-profit organisations and is highly skilled in financial planning and reporting, risk management, governance, and stakeholder management among other skills.
” I have consistently proven my strengths in increasing organisational value by aligning financial and corporate strategies, managing company-wide risks and adhering to all legal, industry and organisational regulations and standards,” she desires herself, adding: “I am a decisive and forward-thinking leader with excellent attention to detail and remarkable people management skills, as she is well known for having an engaging, transparent, and friendly leadership style”.
Sarah holds special skills that have been naturally progressive for her, and these include managing multicultural teams, coaching, mentoring, and the ability to work collaboratively across all levels.
Before joining MTN MoMo as CFO, Sarah spent 9 years at MTN Uganda as a Senior Manager, Finance Operations.
Stephen Mutana
Chief of Strategy and Stakeholder Management
Stephen currently leads the Stakeholder and Strategy function at MTN Mobile Money.
Stephen has a rich telco experience and legacy, having spent over 13 years at MTN Uganda, MTN MoMo’s parent company, where he rose from a Quality Assurance Manager to become Head of Customer Operations before becoming the GM, Customer Experience amongst other senior roles. In April 2020, he was appointed the GM- Mobile Financial Services, a role in which he successfully guided the mobile money operations of MTN during the transition under Uganda’s new National Payment Systems Act (2020).
“I am a dedicated student of leadership, people development, business, and digital finance, Stephen is deeply involved in community development,” he says of his passions.
“In my roles as a Rotarian and Chairperson of the MTN Cooperative Society, I also actively work with local communities, he adds.
He is also passionate about sustainable farming practices, conservation, and local art promotion, as well as mentoring and developing future leaders.
Peter Ochen
General Manager Financial Operations
A seasoned Finance Executive with over a decade of proven experience in various positions including General Manager, Financial Operation with MTN Mobile Money Uganda Limited, Interim Chief Financial Officer Uganda and MTN Fintech Zambia Limited.
Before becoming General Manager, Financial Operations, he also served as Senior Manager of Treasury for 10 years a position where he arranged syndicated funding of USD100 million in 2020 and USD120 million in 2015 for MTN Uganda. He also oversaw ATC and MTN Uganda deals worth over USD300 million, as well as served in various positions under credit control and debt Management.
Peter is a Certified Public Accountant, and Certified Digital Finance Practitioner and holds an MBA in Finance with a proven record of success in directing financial operations and a digital financial service. He provided leadership in finance through the unbundling of MTN Mobile Money Uganda Limited from MTN Uganda Limited.
He also oversaw the implementation of ERP across the group operation including Uganda, Cote d’Ivoire, Congo Brazzaville, Zambia and Eswatini.
He has extensive experience in digital financial services including mobile money operations, regulatory reporting and compliance as well as agent, merchants, and subscribers’ operations across the MTN Fintech operating companies.
Albert Gitta
Chief of Information Technology
Albert brings over 18 years of leadership within the Telco industry to his role as the Chief Information Officer of MTN MoMo.
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His extensive background includes Head of Information Technology & Chief Information Officer at MTN Uganda and MTN Eswatini respectively. He infuses a strategic and inventive mindset into the FinTech ecosystem. His comprehensive knowledge covers IT strategic planning & execution, IT service management, and IT shared services.
“I place a high value on strategic guidance and robust partnerships between business and IT, which are essential for effective execution. I am also enthusiastic about embracing new technologies to open fresh opportunities,” he says.
He also describes himself as a forward-thinking leader, who stays abreast with emerging technologies like Artificial Intelligence (AI), blockchain, and cloud computing amongst others “while seeking opportunities to leverage these advancements to enhance operational efficiency and creation of new value propositions for Fintech services”.
“I am committed to leveraging this to drive a positive impact by promoting financial accessibility for everyone,” he adds.
Albert believes in and fosters partnerships and collaboration to drive innovation and execution, which are important cornerstones to creating business value.
Sheila Kawooya
Head of Corporate Services
Sheila Kawooya describes herself as a “distinguished legal and regulatory professional with over 20 years of expertise in compliance, legal, and regulatory affairs”.
Currently, she serves as the Head of Corporate Services at MTN MoMo, where she has been instrumental in the successful licensing of MTN MoMo. Sheila leads a team dedicated to navigating the complex legal and regulatory landscape, offering strategic counsel to drive sustained growth and innovation.
Sheila possesses an in-depth understanding of Africa’s Banking, digital Finance industry and MTN’s diverse operations, having worked on secondment with the MTN Group Legal, Regulatory, and Corporate Affairs departments.
Before joining MTN MoMo, she held significant roles with the UN, Barclays Bank Uganda, and Standard Chartered Bank Uganda.
She is passionate about Africa, and says, she is “committed to developing transformative legal solutions that unlock opportunities, fostering hope, dignity, and new prospects for Africans”.
Israel Mayengo
Head of Risk and Compliance
Israel is currently the Head of Risk and Compliance at MTN Mobile Money (U) Limited a position he has held since January 2022.
He has over 17 years’ experience most of which has been in risk management and compliance in banking, telecommunications, and digital financial services. His digital financial services experience covers both the Uganda and Cameroon markets.
Previously he worked at MTN Uganda Limited as Senior Manager Compliance since 2019 where he oversaw the implementation of the compliance program. Prior to that, he held key roles in different financial institutions including Operational Risk Manager at Diamond Trust Bank, Manager Compliance at NC Bank Uganda Limited (Now NCBA), Regulatory Compliance at Equity Bank and Operations Manager at Barclays Bank (Now ABSA).
Israel holds a bachelor’s degree in Business Computing from Makerere University, a Certificate in Banking Risk and Regulation from the Global Association of Risk Professionals (GARP) and, is currently pursuing an Advanced Diploma in Governance, Risk and Compliance from International Compliance Association (UK).
Joachim Masagazi
Head of Human Resources
Joachim is a qualified Human Resource professional and practitioner with over 17 years of experience in managing and implementing robust HR strategies and programs. He has made a significant contribution to the strategic direction and management of various organizations both in the public and private sectors.
He holds a Master of Organizational / Industrial Psychology from Makerere University and a bachelor’s degree in philosophy majoring in Social Psychology from Pontifical Urbaniana University – Rome.
Joachim is a member of the technical committee for the Employer of Year Awards under the Federation of Uganda Employers. He also served as the Secretary General of the Human Resource Managers Association of Uganda (HRMAU), a body that institutes standards and professionalism in the Human Resource profession across Uganda.
Before joining MTN MoMo, Joachim was a Senior Manager in charge of Organizational Development under MTN Uganda, and a supervisor of Performance Management at the Uganda Revenue Authority where he focused on addressing the tax authority’s strategic business needs regarding planning and managing employee performance, as wells as implementation of the strategies and systems for rewarding and recognizing employees.
Joachim holds a strong aptitude towards learning with a good conceptual grasp of the Human resource management and development concepts, policies and principles.
William Senfuma
Head of Business Intelligence
William brings over 12 years of combined experience in mobile financial services strategy, leadership, digital product conceptualisation and development.
He is passionate about data for social good, open AI, data science, machine learning and its applications to financial products that impact grassroots communities.
He describes himself as a “results-oriented professional with an extensive background in business intelligence, analytics, and data science”
Before his current Head of Business Intelligence & Analytics role at MTN Mobile Money, he served as Head of Big Data and Analytics and Head of Analytics & Pricing at MTN Uganda. In both roles, he leveraged data to enhance business outcomes.
Before MTN, he held the position of Senior Data Scientist at Tiaxa, specializing in predictive modelling and data exploration. He also served as a Telecom Billing Consultant at Tecnotree Corporation, focusing on BSS/OSS systems for clients in the SEA region.
William holds a Master of Science (MSc) in Computer Vision and Machine Learning. He also has certifications in Software Engineering, Data Engineering in Cloud, Big Data Analytics and a Bachelor of Science (BSc) honours in Computer Science and Mathematics from Makerere University. His expertise includes designing and implementing advanced analytics solutions and developing machine learning models, particularly in the space of financial inclusion
Outside of his professional life, he enjoys sports, financial inclusion conversations and short travels.
Stephen Wakhula
Head Internal Audit
Stephen’s career spans over 10 years in different companies including World Vision Uganda, Uganda Clays Limited, PostBank Uganda Limited, KCB Bank Uganda Limited and MTN Uganda Limited.
He joined the MTN family in 2016 as a Senior Information Systems Auditor and later grew to Manager Technology, Networks and Security Audits before assuming the Head Internal Audit role.
He was recognised as employee of the year for 2 years in a row and received the MTN Group Best Internal Auditor award for 2019.
He holds a Bachelor of Information Technology from Makerere University, is a Cisco Certified Network Associate (CCNA), Microsoft Certified Professional (MCP), Certified Information Systems Auditor (CISA), Certified Fraud Examiner (CFE), Certified Information Security Manager (CISM) and Certified Data Privacy Solutions Engineer (CDPSE).