MTN Uganda has appointed Andrew Bugembe as their new Chief Financial Officer. Mr. Bugembe started work on April 1, replacing Mike Blackburn who retired early this year having served as the Telecom’s CFO since 2011.
In his position, Mr Bugembe is part of the dynamic leadership team of MTN Uganda that boasts of 16 members, four of whom are women.
Mr. Bugembe brings to his position, more than 21 Years of Telecom experience from various countries, working at MTN in different capacities, holding executive and senior management roles in finance departments, including holding the CFO position at MTN Liberia and MTN Congo Brazzaville.
Mr. Bugembe’s robust career at MTN has seen him serve in five different countries. Some of the key highlights of his career at MTN include concluding a $300m syndicated medium term facility, in a Project Finance deal that won an award for the best telecoms deal in Europe Middle East and Africa (EMEA) in 2012.
“After being away from Uganda for almost 10 years, Mr Bugembe is happy to join a great, experienced, and strong management team back home at MTN Uganda. He looks forward to leading the Finance division and contributing to MTN Uganda’s future success as the country embarks on this thrilling Digital journey that the telecom is committed to deliver,” said MTN in a June 1st media statement.
“Although he takes over office at a difficult time when many company revenues are getting slashed by the global Covid19 pandemic, the seasoned accountant is no stranger to operating amidst disasters like this one,” added the statement.
According to the statement, Bugembe has spent a lot of his time resizing the cost structures for a couple of MTN operating companies to align with changing macro-economic trends especially during the Ebola crisis in West Africa and the drop in oil prices while in Central Africa.
“As CFO of the country’s highest tax payer, Mr Bugembe’s key roles will be to drive the company profitability mandate, to ensure effective and efficient Capital allocation, and to support Service revenue growth through data analytics with focus on non-voice revenues. He will also support key transformation initiatives, build internal capacity, support digitization with focus on FinTech in addition to continuous cost optimization and improving working capital management among others,” added MTN in the statement.
Bugembe is a chartered accountant (FCCA-UK) with a Master’s degree from University of Wollongong in Australia and a Bachelors of Commerce Degree from India.