“An experienced seasoned banker”; “even-tempered gentleman”; “skilled, trusted and with strong integrity”; “humble giant with enormous grit” and the “right man for the job” are some of the words that various leaders, that CEO East Africa Magazine used to describe Anthony.
The glowing tribute complements, that of Mark Ocitti, the bank’s chairman, who also expressed confidence in Anthony’s institutional knowledge and experience.
“We are confident that Anthony will build on his institutional knowledge and work together with his immediate predecessor and Equity Uganda staff to push Equity Uganda to the next level of growth,” Mr Ocitti said, in the statement accompanying the announcement.
“We are confident that his experience in banking and the corporate world will enable him to lead the bank to scale and serve more people in pursuit of our purpose of transforming lives, giving dignity, and expanding opportunities for wealth creation,” he added.
Judy Rugasira, the Managing Director at Knight Frank Uganda, Uganda’s leading property advisory firm since 2000, said Anthony was“personable, with excellent people management skills, and a true leader”.
“He is an experienced and seasoned banker who has risen through the ranks as a result of his hard work, consciousness and high professional and ethical standards. Anthony is a sober-minded, even-tempered gentleman, who is always slow to speak, but a keen listener,” she added.
Dennis Kahindi, the Chief Executive Officer at Liquid Intelligent Technologies, said that he has known Anthony in various professional and executive leadership circles and that in all ways his appointment was deserving.
“I have watched him grow through the ranks at Equity Bank, to now Managing Director. He is a humble giant with enormous grit and the courage to take on risks. He is no doubt the right man for the job, if nowhere else, at Equity Bank at this time,” Dennis said, in an interview with CEO East Africa Magazine.
Allan Joshua Mwesigwa, the Director of Strategy & Corporate Affairs at Uganda Development Bank Limited, couldn’t agree more.
“I have every confidence that he is the right man for the job. He knows the banking business quite intimately, having served in various senior roles locally and regionally. He is an astute professional and has always had a passion for growing his people,” Allan remarked.
STEADFAST AND RESILIENT: Equity Bank Uganda consolidates position among top 5 banks, despite a one-time provisioning-related loss in 2023Robert Waweru, the Managing Director, Saladin Media Advertising Limited, one of Uganda’s leading advertising media management firms said, “Anthony has worked hard and smart and the promotion is well deserved”.
“The increasing number of Ugandans taking up leadership roles in the banking industry and big multinationals is a strong testament to the capacity the Ugandan labour force has built and continues to build. Such positions require strong skills, integrity, and trust, which individuals like Anthony have demonstrated in their careers thus far,” Robert added.
15 years of hands-on banking
Before being appointed Managing Director, the aggressively passionate and hands-on banker, has been the Executive Director, at the bank since April 2016.
In that role, he has effectively been the bank’s No.2 and a core part of the bank’s leadership team and a member of the board. In that capacity, he worked closely with Samuel Kirubi, the outgoing Managing Director, to transform Equity Bank Uganda from loss-making to becoming the 5th most profitable bank in Uganda.
The bank has also moved from being the ninth-largest by deposits to the fifth; ninth-largest by lending to the third-largest and 12th-largest by assets to the 6th-largest. Out of the 26 banks in Uganda in 2021, Equity Bank had 8.1% of the industry share of deposits; 9% of lending, 6.8% of assets and 8% of industry profitability.
Kituuka’s 15-year banking has also seen him serve as Executive Director, Regional Subsidiaries at the Equity Group between October 2014 to March 2016. He has also worked at Kenya Commercial Bank (Head of Global Banking); KCB Bank Uganda (Head of Corporate Banking) and Absa Bank Uganda (Head of Business Banking). Before joining the banking industry, he worked for the LafargeHolcim-owned Hima Cement in Uganda, as a Sales Manager as well as Business/Commercial Controller from March 2002 to October 2003. He also played various audit roles at Deloitte & Touche, between 1998 and February 2002.
Kituuka, holds an MBA (Oil & Gas) from Middlesex University, Business School and a Bachelor’s Degree in Statistics & Applied Economics from Makerere University, Kampala. He is an FCCA Fellow.