Business 2 May 2026 Daily Monitor (Uganda)
Centenary Bank Quietly Reshuffles Top Leadership Amid Growth Pressures
Centenary Bank is poised for a major leadership shift, with long-time executive Godfrey Byekwaso set to become Managing Director as Fabian Kasi moves to head the broader Centenary Group. The changes include new Executive Director roles to sharpen oversight on business operations and compliance with evolving regulations. Source: https://www.monitor.co.ug/uganda/news/national/centenary-bank-makes-hushed-leadership-changes-5444260
Centenary Bank, Uganda’s second-largest lender, has executed subtle changes at the top. Reports indicate Godfrey Byekwaso, a veteran executive, will step in as Managing Director, succeeding Fabian Kasi who is expected to lead the Centenary Group in about two months.
The bank has not yet confirmed the transition publicly. Efforts to contact Kasi went unanswered, and communications staff urged patience for an official announcement. A Uganda Bankers Association source described it as a planned handover.
These moves follow recent executive restructuring. In April, the board added a second Executive Director position, appointing Michael Opira to oversee operations, IT, digital channels, and customer experience. Joseph Balikuddembe handles the business side, including credit, branches, SME, and agricultural lending.
Board Chairman Gustavo Bwoch explained the split aims to reduce workload, boost oversight, and improve decision-making. Analysts see it as a response to Bank of Uganda’s stricter ESG and capital rules, alongside digital and regional expansion needs.
With Shs 8.6 trillion in assets, Shs 5.27 trillion in deposits, and 3.4 million customers—mostly rural farmers, traders, and SMEs—Centenary boasts the widest branch network at over 70 locations and 192 ATMs. The changes position it to enhance digital services like CenteMobile while pursuing fintech and cross-border opportunities in places like South Sudan and DR Congo.
Byekwaso, a CPA with finance and risk expertise, is expected to maintain the bank’s social focus while driving efficiency. Customers should see no immediate disruptions, with potential for quicker loans and more digital products ahead.
Source: Daily Monitor (Uganda)