A close analysis of the 2022 financials of the 25 banks in Uganda, reveals several things, but one thing that you can’t miss is how Centenary Bank stands out of the crowd. And it is not because it is the number two bank⏤ it has been number two since 2018⏤ and neither is it because it is the only indigenously majority-owned bank in the top 5 and one of only two in the top ten, for it has been like that for about 10 years to date. But rather, what makes it an unmissable outlier, soaring up there like an…
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MTN Uganda, and Centenary Technology Services (Cente-Tech) have reaffirmed their resolve to work together to promote equity and inclusivity in basic digital services and skills, particularly for women, youth, and the rural poor. During a meeting today, May 11th 2022, Cente-Tech’s Peter Kahiigi and MTN Uganda’s Sylvia Mulinge agreed to work together to leverage technology to make access to basic services like healthcare, education, and financial services widely accessible, as a critical means to empowering disadvantaged communities across Uganda and agreed to collaborate towards this goal. They also committed to sharing expertise, resources, and technology to achieve this shared goal….
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I am pleased to present Centenary Bank’s 2022 financial results. Despite a challenging operating environment, we were able to maintain stellar performance. During 2022 our operating environment was affected by the Ebola outbreak and the Russia-Ukraine war. The war sparked off inflation in almost all economies including Uganda causing an increase in fuel prices and later food and other commodity prices, exchange rate (UGX) depreciation, weak domestic demand, and increased cost of doing business. This greatly affected our customers’ business growth. Our stand to address the fore mentioned was offering customers innovative solutions alongside focusing on the real economy, sustainability,…
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Uganda’s Centenary Bank has released its 2022 results announcing “substantial growth in 2022 especially in profits, deposits, gross loans, and total assets”. The bank reported an 18% growth in net profit, from UGX211.5 billion in 2021 to UGX249.6 billion in 2022- an increase of UGX38.1 billion. The increase in profits was underpinned by an 11.4% rise in total income⏤ from UGX 864 billion in 2021 to UGX 962 billion in 2022, an increase of UGX98.3 billion. Most of the total income growth was driven by increased interest income (from increased lending) and fees and commissions (from increased transactions). Customer lending…
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Centenary Group has appointed Godfrey Byekwaso, hitherto the General Manager of Finance at Centenary Bank Uganda, as its Deputy Managing Director for Centenary Bank Malawi, CEO East Africa Magazine can exclusively reveal. Centenary Group, which is the holding company for Centenary Bank, Centenary Technology Services Limited (Cente-Tech), and Centenary Foundation, recently acquired 100% of MyBucks Banking Corporation of Malawi and rebranded it to Centenary Bank Malawi. The new brand was launched on March 22nd 2023 and Zandile Shaba, retained as the bank’s Managing Director. Godfrey Byekwaso is a highly skilled finance professional and banker with key competencies in financial analysis…
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Congratulations upon winning the CEO of the year, 2023 award in the just-ended 10th Pan Africa Bank Forum held in Nairobi, Kenya. What does this award mean to you, the bank and the customers? Thank you, I am delighted to be recognised for this award because it is a reminder that hard work, resilience, agility, and teamwork are traits that in the long run yield some of the best results. My journey at Centenary Bank has been one centred on valuing people, from those we employ, to those we serve daily. I wouldn’t be where I am without my colleagues…
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Centenary Group, one of Uganda’s largest players in financial and digital inclusion, has officially launched its Malawi subsidiary⏤ Centenary Bank Limited, promising to bring its innovative solutions to underserved communities in the country. The move comes after years of successful growth in its home market, Uganda, what the Group says, is “extensive research into the needs of Malawi’s population”. Centenary Bank Limited in Malawi is the second banking subsidiary and fourth company owned by Centenary Group. Speaking on March 22nd 2023 at the Launch in Lilongwe, Centenary Group Executive Chairman, Prof. John Ddumba Ssentamu, “In Malawi, we will ensure that…
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The Reserve Bank of Malawi has awarded a license to Centenary Group and the Catholic Church Archdiocese of Lilongwe to carry out banking operations in Malawi. The name of the new bank is Centenary Bank Limited, with Centenary Group holding majority shareholding and the Catholic Church Archdiocese of Lilongwe holding minority shareholding of the Bank’s shares. Centenary Bank will be launched on 23rd March 2023 in Lilongwe. Zandile Shaba has been maintained as the Managing Director. Centenary Group owns Centenary Rural Development Bank; the Bank with the largest customer base in Uganda. Centenary Bank has over 2.6 million customers including…
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usinesses must make cyber risk management an integral part of their business strategy so as to match the dynamic and ubiquitous new age cyber risks, Peter Kahiigi, Chief Technology Officer – Centenary Technology Services, has advised. He was speaking at a PwC Uganda-organised Non-Executive Director (NED) Forum to discuss managing cyber risk in commercial entities. ‘Today, it is easier to steal electronically than it is to break into a bank, as an example, owing to the convenience that comes with digital technologies. Cyber risk management is no longer a practice to be relegated to the back of the room,” Mr….
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Centenary Group was awarded as the winner in the Banking Services category of the 2022 Financial Reporting Awards (FIRE). The Group also came third in the Excellence in Integrated Reporting category during the awards ceremony. The Group was also recognized with an Outstanding Achievement Award in the Corporate Governance Reporting and Sustainability Reporting categories. The FIRE Awards are an annual ceremony through which excellence in financial reporting is recognized and rewarded. Organisations in the private, public and non-profit sectors participate by submission of their annual reports for the year under review. The best performers are rewarded based on their level…
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