BREAKING: Mark Muyobo appointed substantive NCBA Managing Director, pending Central Bank approval

Mark Muyobo, previously the Acting Managing Director & Chief Executive Officer of NCBA Bank Uganda has been confirmed as the substantive head of the bank, CEO East Africa Magazine can exclusively reveal. He has been in an acting capacity since December 2021 when Anthony Ndegwa was recalled to the NCBA Group head office in Nairobi, Kenya. His full announcement is pending approval by the Central Bank. According to a highly placed, his confirmation follows the bank’s impressive performance in the first, half of 2022 that among others saw the bank return to profitability at end of May 2022.

The Bank at the end of 2021 reported a loss of UGX14.8 billion.

This reporter tried to reach Mr Muyobo on phone for a comment, but he did not pick, up nor return the call by press time.   NCBA Bank Uganda was the result of a merger between CBA Bank and NC Bank operations in Uganda in June 2020. This followed a September 2019 merger at the group level back in Kenya, between NIC Group PLC- the parent company of NC Bank and CBA Group the parent company of CBA Bank, to form NCBA Group PLC. The resulting merged banking operation was named NCBA Bank Kenya PLC. Following the merger, Muyobo who was the NC Bank Uganda Managing Director Executive Director assumed an Executive Director, Corporate Banking and Structured Solutions role. He is a consummate banker with rich knowledge of the Ugandan banking landscape and wields over 21 years of experience. He joined NC Bank in October 2018 as an Executive Director from Barclays Bank Uganda (now Absa Bank Uganda) where he had worked for slightly over 11 years, rising to become the Vice President, Global Corporates. Before this, he worked with dfcu Bank, KPMG, and ABSA Capital in South Africa. Mr Muyobo holds a Master’s Degree in Business Administration from Heriot-Watt University, United Kingdom and is a Fellow of the Association of Chartered Certified Accountants (FCCA). He also holds a Bachelor’s Degree in Business Administration from Ndejje University and also holds an Advanced Diploma in Corporate Lending from the IFS School of Finance, London. In July 2020, CEO East Africa Magazine named Mark Muyobo amongst the top 25 bank executives fit for bank CEO jobs.