Business 6 May 2026 Daily Monitor (Uganda)
Centenary Bank Ushers in New Era as Fabian Kasi Hands Over to Godfrey Byekwaso
After 15 years of remarkable growth under Fabian Kasi, Centenary Bank transitions to new leadership with Godfrey Byekwaso taking the helm as managing director, promising continued digital innovation and regional expansion for Uganda's banking powerhouse. Source: https://www.monitor.co.ug/uganda/business/markets/centenary-bank-end-of-an-era-that-has-built-a-giant-and-start-of-another-5449544
Centenary Bank is undergoing a major leadership shift, marking the end of Fabian Kasi’s 15-year tenure as managing director and the start of a new chapter under Godfrey Byekwaso.
Kasi, who joined in 2010, transformed the bank from a respected rural-focused institution into a diversified financial group. Key expansions include Centenary Bank Malawi, Centenary Technology Services, and Centenary Foundation, broadening its reach beyond traditional banking.
Under his leadership, the bank’s deposits skyrocketed from Shs694.3 billion in 2011 to Shs5.27 trillion in 2025—a 659% increase. Loans and advances grew 707% to Shs4.16 trillion, net profits rose 786% to Shs424.2 billion, and total assets expanded 812% to Shs8.61 trillion. This positioned Centenary as Uganda’s second-largest bank by key metrics.
Kasi navigated challenges like digital disruption, fintech competition, Covid-19, and economic volatility while investing in mobile banking, ATMs, and agency networks. His background in microfinance, regulation, and auditing shaped a cautious yet ambitious strategy focused on rural roots and mass-market inclusion.
Byekwaso, a long-time insider and former MD of Centenary Bank Malawi, steps in with deep institutional knowledge. The Bank of Uganda has approved the changes, with Kasi moving to group CEO.
The new era emphasizes consolidating gains amid intensifying competition from fintechs, telecoms, and regional players. Priorities include accelerating digital lending, AI integration, cybersecurity, and balancing rural strengths with urban digital demands.
Opportunities abound in Uganda’s underbanked population, SME financing, agriculture, and East African trade, leveraging Centenary’s scale, trust, and network.
This transition ensures continuity while adapting to a tech-driven future, building on Kasi’s legacy of growth and resilience.
Source: Daily Monitor (Uganda)