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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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Due to an explosion of technology, the world is becoming one big borderless global trading village, active 24/7. The way of life is now more synchronized providing endless opportunities for trade. Uganda as an example now derives 52% (USD2.012 billion out of USD3.890 billion) of its exports revenue from her African trading partners (led by Kenya, DRC, South Sudan, and Tanzania) compared to 29% (USD136.1 million out of USD470 million) in FY2001/02. In the next 5 years, the African Continental Free Trade Area (AfCFTA) is expected to open further, a market of 1.3 billion people across 55 African countries with…
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Most often people do look out for profits or losses in a bank’s results, but there is often a lot of facts behind the figures that go unmentioned. What are some of the key highlights about your 2019 results that are worth celebrating? It is true that our performance reflects healthy growth in net profit by 33% between 2018 and 2019. However, our financial performance reflects much more – growth, resilience, and sustainable banking. We increased our financial services intermediation as reflected in our credit book growth by 15%. This growth was largely driven by additional credit facilities to small…
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Bank of Africa Uganda has released their 2019 results, reporting a 33per cent increment in net profit on the bank of double-digit growth in lending. “Client lending activity remained strong with loans and advances growing by 15per cent over 2018, from UGX 344.1 billion in 2018 to UGX397.1 billion in 2019); largely to small and medium enterprises (SMEs). We upheld our goal of committing funds to the biggest impact areas of our economy – education, trade, manufacturing, and construction,” said Mr. Arthur Isiko, the bank’s Managing Director, in a note accompanying the published results. “In line with our agenda for…
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Bank of Africa Uganda on Friday 13th December rewarded it’s oldest active clients and the top digital users of the bank’s services with gift hampers and media recognition. The outstanding customers had a breakfast meeting with the Managing Director – Arthur Isiko and the Executive Director Bernard R. Magulu at Bank of Africa Head Offices on Jinja Road L-R Executive Director BANK OF AFRICA – Bernard R. Magulu and Managing Director Arthur Isiko award one of the active mobile wallet customers. Far right is the Head Retail Banking Stella X. Atim Engena “We are appreciating 10 customers for their continued…
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The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…
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Arthur Isiko (FCCA), is a seasoned banker who has spent 17 years in banking at BANK OF AFRICA’s Uganda country operation. He joined the Bank in 2003 from PricewaterhouseCoopers as an Audit Manager and rose to become the Head of Finance, a role he served in for 6 years. In April 2010, he was appointed the Bank’s Executive Director and later became Managing Director in October 2015. He holds a Bachelor of Commerce degree in Accounting from Makerere University and an MBA from the University of Warwick.
Since taking on the role, the Bank has steadily grown its total asset book by 64% from UGX 498billion in 2014 to UGX 815billion by end of 2018. There has also been a notable turn around in profitability from UGX 1billion in 2014 to double digit figures of each of the last three years with 2018 at UGX 12.6 billion.
CEO EA Magazine, caught up with Mr Isiko on a number of insights about Bank of Africa, the banking industry and several other issues.
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