Godfrey Kamau Archives – CEO East Africa

Meet Godfrey Kamau and Gift Shoko, the two men sent by Equity Group to sanitise and stabilise the rocky Equity Bank Uganda ship

Muhereza KyamuteteraBusiness & Markets Company News The Big StoryDecember 19, 2024December 19, 2024

Since Equity Bank Uganda discovered a UGX65 billion (approximately USD 18 million) digital fraud, the bank has been in the eye of the storm, causing a whirlwind of losses, staff exits, and reputation damage. Not only did it slide from profit to loss—from a profit of UGX45.8 billion in 2022 to a loss of UGX18 billion in 2023—but the fraud, coupled with a growing non-performing loans book that more than doubled from UGX90.7 billion in 2022 to UGX191.2 billion in 2023, began to rock the Equity Bank ship in Uganda. Losses aside, the period of instability and necessary purging that…

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Contextualising Anthony Kituuka’s Resignation as MD of Equity Bank Uganda

CEO East Africa MagazineThe Big StoryDecember 6, 2024December 19, 2024

On Saturday, November 30th, 2024, Uganda woke up to the news that the ebullient Anthony Kituuka had resigned as Managing Director of Equity Bank in Uganda. The news that Anthony had resigned to “pursue other opportunities outside the organisation” was announced to all bank staff in an impromptu but mandatory online meeting at 11 am on Saturday, October 30th 2024, by Mark Ocitti, the bank’s Board Chairman. Almost simultaneously, a media statement was released, announcing the resignation and thanking Anthony for “his years of service” and “his dedication and trust in the brand”. Despite announcing to staff that Anthony would…

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