EADB appoints Anne Juuko as bank pushes to unlock regional financing potential

KAMPALA. New East African Development Bank (EADB) Director General Anne Juuko has taken charge of the regional lender with a mandate to expand long-term financing for the region while implementing governance reforms approved by its shareholders.

Ms Juuko, the former Stanbic Bank Uganda chief executive, officially assumed office on October 2, replacing Benard Mono, who had been serving as acting director general.

Her appointment comes as EADB seeks to build on a strong financial performance while tapping what its Governing Council describes as the institution’s “considerable untapped potential”.

The bank reported a 51 per cent increase in profit before tax in 2025, while loan disbursements increased by 140 per cent. EADB also retained investment-grade credit ratings of A from S&P Global and Baa3 from Moody’s, both with stable outlooks.

The Governing Council, however, has simultaneously approved reforms aimed at improving the bank’s performance and strengthening governance.

Yusuf Murangwa, Rwanda’s Minister of Finance and Economic Planning and chairperson of the EADB Governing Council, said the reforms would help the bank improve its delivery to member states.

“Strong governance is the foundation of a credible development bank. The resolutions adopted today will help the Bank to build on the solid foundation already established to deliver better results to our Member States and the region,” Mr Murangwa said.

The specific reforms were not detailed in the announcement.

From commercial banking to development finance

Ms Juuko, who has more than two decades of experience in banking, financial markets and executive leadership, joins EADB from Standard Bank Group, where she was Regional Head of Global Markets for Eastern Africa.

She previously served as managing director and chief executive officer of Stanbic Bank Uganda and held senior positions at Standard Bank Namibia and Citibank in Kenya and Uganda.

Her experience in commercial banking and capital markets is expected to shape her approach at EADB, particularly as the institution seeks to mobilise more long-term capital for development projects across its member states.

Ms Juuko said expanding the bank’s development finance role would be among her priorities.

“My priority will be to deepen the Bank’s development finance role, unlock new sources of long-term capital, and cultivate strategic partnerships that expand our reach and deliver lasting socio-economic impact across the region,” she said.

The emphasis on long-term capital comes at a time when East African economies require financing for infrastructure, businesses and other investments whose returns may take years to materialise.

For EADB, the challenge will be to translate its improved financial position and regional mandate into more financing for projects that support economic growth and integration.

Four-country mandate

Ms Juuko takes over an institution owned by Kenya, Uganda, Tanzania and Rwanda, alongside other development and commercial financial institutions.

Established in 1967, EADB was initially created under the treaty that established the then East African Cooperation. It was subsequently re-established under a new charter in 1980 following changes to the regional cooperation framework.

Its mandate includes providing development finance and related assistance to enterprises and projects that contribute to socio-economic development and regional integration.

The bank is also an institution of the East African Community, giving it a regional platform from which to support investment and integration.

Mr Murangwa said Ms Juuko was joining at an important stage in the bank’s development.

“Ms Juuko joins EADB at a pivotal moment, inheriting a strong foundation from which to accelerate the Bank’s transformation, unlock its considerable untapped potential, and deepen its impact across the region,” he said.

He added that the Governing Council expected the bank under her leadership to expand support to member states and play a greater role in regional economic growth, integration and sustainable development.

End of transition

Ms Juuko takes over from Mr Mono, the bank’s senior director for finance and treasury, who led the institution on an interim basis.

The Governing Council credited Mr Mono with maintaining continuity and stability during the transition.

At the official handover, Mr Murangwa presented Ms Juuko with her contract in the presence of Uganda’s Minister of State for Finance, Planning and Economic Development Henry Musasizi and EADB Board chairperson Dr Ramathan Ggoobi.

Mr Mono subsequently handed over the instruments of office to Ms Juuko.

Ms Juuko said she would build on the work of the previous management and staff while working with the Governing Council and other stakeholders to strengthen the bank’s impact.

“It is a privilege to join an institution that has been in existence for almost sixty years, and I am excited to work with stakeholders across the region to build on that foundation and deliver even greater impact for future generations,” she said.

Her immediate challenge will therefore be to balance growth with the governance reforms now being pursued by the bank’s shareholders, while turning EADB’s stronger financial performance into increased development financing across East Africa.