Equity Bank Uganda, a subsidiary of the Pan-African Equity Group Holdings Plc, has announced the appointment of Gift Shoko as its new Managing Director. This strategic decision, pending regulatory approval, marks a transformative phase for the bank as it aims to expand its footprint and enhance its service delivery across Uganda.
With over 26 years of banking experience, Shoko brings a wealth of expertise in commercial, multi-regional banking and leadership. His career has been a tapestry of accomplishments across Southern and Eastern Africa, underscoring his prowess in steering growth and navigating complex financial landscapes. Holding a Bachelor of Business Studies and Computer Science degree from the University of Zimbabwe and an MBA in Banking and Finance from CIMA, Cyprus, Shoko’s credentials are bolstered by executive coaching and emotional intelligence certifications. His well-rounded profile positions him to lead with both strategic insight and empathy.
Shoko’s professional journey is marked by high-impact roles, including his tenure as NCBA Group’s Director for Regional Business and CEO of Commercial Bank of Africa (Tanzania). At NCBA, he oversaw banking subsidiaries in East Africa, while at Commercial Bank of Africa, he steered growth initiatives that cemented the bank’s position in the Tanzanian market. Earlier in his career, he played pivotal roles at Nedbank Zimbabwe and Trust Holdings Limited, where he orchestrated the company’s reorganization and stock exchange re-listing.
Speaking on behalf of Equity Bank Uganda’s Board of Directors, Chairman Mark Ocitti expressed confidence in Shoko’s appointment, emphasizing his proven leadership and strategic acumen. “Mr. Shoko’s expertise aligns perfectly with our mission to deliver innovative and inclusive financial solutions,” Ocitti remarked. “We are confident that his leadership will enhance customer experiences and drive our expansion in Uganda.”
Uganda’s Corporate Finance and Capital Markets Luminary, Miriam Ekirapa Musaali, Passes OnShoko takes over from Anthony Kituuka, whose tenure saw significant milestones for the bank. Under Shoko’s leadership, Equity Bank Uganda aims to cement its position as a top-tier financial institution by leveraging its industry-leading agency banking network and digital transformation initiatives.
Equity Bank Uganda currently serves a customer base of 2.2 million, with deposits nearing UGX 3 trillion and a balance sheet of UGX 3.5 trillion. As part of Equity Group Holdings, which operates in seven African countries and maintains a USD 14 billion asset base, the bank is poised for continued growth. Equity Group’s achievements, including its recognition as the Second Strongest Financial Brand on Earth by Brand Finance in 2024, reflect the robust foundation upon which Shoko’s tenure begins.
This appointment is not just a leadership change but a strategic move signalling Equity Bank’s intent to scale new heights in Uganda’s competitive banking landscape. As the bank gears up for this new chapter, all eyes will be on Gift Shoko to drive innovation, inclusivity, and growth for the benefit of its customers and the broader community.
