Absa Group Limited, parent company of Uganda’s third largest bank by assets (UGX3.4 trillion as at end of 2019), Absa Bank on Tuesday announced the appointment of Nadine Byarugaba as Chairperson Board of Directors for Absa Uganda.
Nadine, a Herriot-Watt alumnus who has served on the board since January 2016, replaces Swithin Munyantwali who left the position following his appointment to the board of Absa Group as Non-Executive Director in September 2019.
Byarugaba’s appointment was confirmed by Peter Matlare, Deputy Group CEO of Absa Group Limited on Tuesday.
“I am delighted to confirm Nadine’s appointment as Board Chair of Absa Bank Uganda. Her strategic leadership and seasoned knowledge of the banking sector stands us in good stead as we continue to pursue our ambition and goal to be a leading and trusted African financial services company. I am confident that Nadine’s leadership will strengthen our resolve to deliver continued value to our customers and shareholders” said Peter Matlare, Deputy Group CEO of Absa Group Limited.
Mumba Kalifungwa, Absa Bank Uganda Managing Director said of the new appointment, “I look forward to scaling even greater heights working under the stewardship of Nadine who brings with her a wealth of expertise in the financial services sector and will provide crucial strategic direction and oversight as we work towards delivering continued business growth and success for the bank for both our shareholders and customers,”
Nadine Byarugaba is a seasoned banker wielding over 25 years experience in the banking sector. She has served on Absa’s Board for over four years since January 2016 and has been part of a successful team that has spearheaded Absa’s growth strategy which has seen the bank’s assets grow by 22.5% from UGX2.8 trillion in 2018 to a record UGX3.4 trillion in 2019 and 13% growth in customer loans and advances, standing at UGX1.334 trillion, up from UGX 1.178 trillion in 2018.
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She as well serves as a Board Member for New Faces New Voices, a Pan –African Advocacy Group, under the Graca Machel Trust that focuses on expanding the role of women in the financial sector.
She also serves on the Board of Uganda Reinsurance Co. Ltd as the Non –Executive Director
Byarugaba is a holder of MBA from Herriot Watt University, Edinburgh.
