Byekwaso takes helm at Centenary Bank, eyes next phase of growth

KAMPALA — Godfrey Byekwaso officially assumed office as managing director of Centenary Bank on July 1, taking charge of Uganda’s largest commercial microfinance bank with the task of sustaining the growth momentum built over the past 16 years under his predecessor, Fabian Kasi.

Byekwaso succeeds Kasi, who transformed Centenary Bank into one of Uganda’s leading financial institutions during his tenure, overseeing rapid expansion in branch banking, digital financial services and financial inclusion.

During a Leadership Transition Media Breakfast on Thursday, Byekwaso shared his vision of building on the Bank’s strong foundation while continuing to deliver exceptional value to customers, empower communities, and drive financial inclusion across Uganda.

As he assumes leadership, he reaffirmed his commitment to preserving the trust that Centenary Bank has built over the years while embracing innovation, collaboration, and sustainable growth.

With a rich legacy to build upon and a clear vision for the future, we look forward to the next chapter under his leadership.

The leadership transition comes at a time when Centenary Bank is riding on strong financial performance. As of December 2025, the bank had grown its total assets to Shs8.6 trillion, customer deposits to Shs5.27 trillion and its loan book to Shs4.16 trillion. Profit after tax stood at Shs424.2 billion, while its customer base had surpassed 3.4 million.

The appointment reflects the bank’s strategy of promoting from within, with Byekwaso having spent more than a decade in senior leadership at Centenary Bank before taking on a regional assignment in Malawi.

He joined the lender in 2012 as general manager for finance before rising to chief financial officer, where he played a key role in strengthening the bank’s financial management, operational efficiency and long-term growth strategy.

His contributions came during a period in which Centenary Bank expanded its national footprint, invested heavily in digital banking and consolidated its position as Uganda’s leading microfinance and retail bank.

In April 2023, Byekwaso was appointed deputy managing director of Centenary Bank Malawi following the group’s acquisition of the Malawian lender, marking the first cross-border expansion by a Ugandan bank. He was promoted to managing director in October 2024 and is credited with steering the subsidiary back to profitability.

His return to Uganda brings regional banking experience that is expected to support Centenary Bank’s next phase of growth as competition in the banking sector intensifies.

The transition is also seen as one of continuity rather than a shift in strategy. Byekwaso worked closely with Kasi for many years, having first served alongside him at FINCA Uganda before reuniting at Centenary Bank.

Their long professional relationship helped shape the bank’s focus on prudent financial management, customer-centred banking, innovation and financial inclusion.

Industry observers say the seamless transition demonstrates the bank’s commitment to institutional stability and succession planning, ensuring that leadership changes do not disrupt strategy or operations.

Byekwaso is a Fellow of the Association of Chartered Certified Accountants (FCCA) and a member of the Institute of Certified Public Accountants of Uganda (ICPAU). He holds a Master of Business Administration in Finance and a Bachelor of Commerce in Accounting, both from Makerere University.

He has received several industry accolades, including the Finance Transformation Award in 2018, the Strategy Execution Award in 2019 and the ACCA Uganda CFO of the Year Award in 2020.

Beyond executive management, he has served on several corporate and professional boards, including the Bankers Association of Malawi, the National Switch of Malawi and the Inter-University Council for East Africa. He has also chaired the Uganda Bankers CFO Forum and served as president of the Rotary Club of Kiwatule.

Centenary Bank enters the new leadership phase as one of Uganda’s systemically important financial institutions, with a strong presence in rural communities and among micro, small and medium enterprises.

Analysts say Byekwaso’s immediate challenge will be to sustain the bank’s strong financial performance while accelerating digital transformation, expanding access to financial services and navigating an increasingly competitive banking environment.

His appointment also comes as banks position themselves to support the government’s tenfold economic growth strategy by increasing lending to productive sectors, strengthening financial inclusion and mobilising domestic savings for investment.