Equity Bank Uganda has today announced the appointment of a new Managing Director to replace Samuel Kirubi.
Anthony Kituuka is the new Managing Director, replacing Kirubi who has headed the fast-expanding bank for five years.
Kituuka, who was unveiled to the staff in Kampala this morning, has served as the Executive Director of the Ugandan subsidiary of the Kenya-based Equity Group Holding PLC since 2016.
He previously served as the Executive Director for Regional Subsidiaries from 2014 to 2016.
Kituuka holds a Master’s Degree in Oil and Gas from Middlesex University, London and a Bachelor’s Degree in Statistics and Applied Economics from Makerere University, Uganda.
He is also a Fellow of the Association of Chartered Certified Accountants Certificate.
Kirubi, his predecessor, has been recalled to the group’s Kenya headquarters, where he will take up the role of Group Chief Operating Officer.
The sudden announcement by the Board of Directors of the changes could come as relief for the Kenyan executive who was leading the bank’s legal battles involving property wrangles that include the Simbamanyo building on George street.
The owners, Simbamanyo Estates Ltd claim that Equity sold off the mortgaged building irregularly.
Others involve Kampala property-owning siblings, John Sebalamu and Godfrey Muwonge, as well as Alfred Higenyi of Namuswa Plaza.
Mark Ocitti, the Chairman Equity Bank Uganda while welcoming Kituuka to his new role said, “We are happy to announce the appointment of Anthony Kituuka as the new Managing Director of Equity Bank Uganda with immediate effect subject to Bank of Uganda approval.”
He expressed confidence that Anthony would build on “his institutional knowledge and the work together with his immediate predecessor and Equity Uganda staff to push Equity Uganda to the next level of growth.”
The bank that opened shop in Uganda in 2008 currently has 47 branches, 7,248 ‘Equiduuka’ agents, 8,021 merchants and 52 ATMs spread across the country, and claims a customer base of more than 1.7 million. The parent Group is listed on Kenya’s Nairobi Stock Exchange and cross listed in Uganda and Rwanda.
“On behalf of the Board, we thank Samuel Kirubi for his leadership that saw Equity Bank Uganda turnaround and grew to be the 6th largest bank in deposits and assets and move from position 16 to the 5th most profitable bank in Uganda in a record seven years,” added Ocitti.
The bank also has sister subsidiaries in Kenya, Rwanda, Tanzania, Democratic Republic of Congo and South Sudan and a Commercial Representative Office in Ethiopia.
