When Uganda’s Centenary Group and the Roman Catholic Archdiocese of Lilongwe acquired MyBucks Banking Corporation in Malawi in October 2022 and fully rebranded it to Centenary Bank Limited, Malawi, it was a struggling institution. Turning around the institution required not just capital injection, but disciplined leadership, strategic clarity, and deep experience in financial sector transformation. Centenary Group, the majority shareholder, naturally turned to one of their own — CPA Godfrey Byekwaso, FCCA, MBA, a rising professional who for nearly 11 years served as the General Manager Finance (CFO) at Centenary Bank Uganda, the Group’s flagship subsidiary and Uganda’s second-largest bank….
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NCBA Tanzania, the banking subsidiary of NCBA Group, has released its third-quarter financial report for 2023, showing remarkable growth in a series of bank fundamentals. In results released this week, the bank reported that in the 3 months from June 2023, operating income grew by 145% from a loss of TZS8.4 billion in Q2 2023 to a positive of TZS3.8 billion in September 2023. After-tax Income also improved by 152.4% from a loss of TZS9.6 billion to a profit of TZS5 billion. This was fuelled by a 16.3% growth in net lending, from TZS237.1 billion to TZS275.7 billion. And a…
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