Phrase Lubega named new MTN Mobile Money Managing Director

MTN Mobile Money Uganda has appointed Phrase Lubega as its new Managing Director, subject to approval by the Bank of Uganda, as the company seeks to strengthen its leadership and accelerate digital financial inclusion across the country.

The appointment was announced on Thursday by the Board of Directors of MTN Mobile Money (U) Limited, which said Mr Lubega’s extensive experience in telecommunications, information technology and financial services positions him to steer the company through its next phase of growth.

Mr Lubega succeeds Sarah Bateta Okwi, who has been serving as Acting Managing Director. The board commended Ms Bateta for providing stability and continuity during the transition period.

In a statement, the company said Mr Lubega brings more than 30 years of leadership experience gained across multiple markets and sectors, including mobile financial services, digital banking and technology.

Prior to his appointment, he served as Interim Managing Director of MoMo Payment Service Bank in Nigeria, one of MTN Group’s key fintech operations on the continent. In that role, he was responsible for developing and implementing the bank’s long-term strategy, strengthening its digital banking model and expanding access to financial services.

According to MTN, his leadership in Nigeria contributed to strong revenue growth, improved operational efficiency and the successful launch of new products that enhanced the bank’s competitiveness in the market.

Mr Lubega is no stranger to Uganda’s telecommunications industry, having previously held several senior management positions at MTN Uganda.

Among his notable roles was serving as General Manager for Mobile Financial Services, where he played a key role in expanding MTN’s mobile money business and introducing innovative financial products.

During his tenure, MTN launched MoKash, a mobile savings and loans platform that significantly broadened access to financial services for Ugandans who were previously excluded from formal banking systems.

He also served as Chief Information Officer at MTN Uganda, where he led major information technology transformation initiatives that supported the rapid growth of mobile money services and strengthened the company’s position in the market.

Beyond Uganda, Mr Lubega has held several senior leadership positions within MTN Group, including Group Executive for Fintech Commercial Operations and General Manager for Commercial and Go-To-Market operations.

In those roles, he was instrumental in driving the growth of mobile financial services across MTN’s footprint, contributing to increased customer acquisition, improved customer retention and expansion of mobile money services in several African countries.

His appointment comes at a time when mobile money continues to play a critical role in Uganda’s economy, providing millions of people with access to payments, savings, credit and other financial services.

Commenting on the appointment, Serigne Dioum, MTN Group Fintech Chief Executive Officer, said Mr Lubega’s experience and understanding of digital financial services make him the right person to lead the business.

“We are delighted to appoint Phrase Lubega as Managing Director of MTN Mobile Money Uganda. Phrase brings deep market expertise, strong execution capability and a proven track record of scaling mobile financial services across diverse markets,” Mr Dioum said.

“His leadership will be instrumental as we strengthen our position in Uganda and continue to expand access to inclusive, secure and innovative digital financial solutions that empower individuals and businesses,” he added.

The Chairperson of the Board of Directors of MTN Mobile Money Uganda, Sylvia Mulinge, said the board was confident that Mr Lubega would provide the leadership required to drive the company’s long-term growth ambitions.

“On behalf of the Board, we are pleased to appoint Phrase Lubega to lead MTN Mobile Money Uganda into its next phase of growth. His deep understanding of the business, strong governance experience and proven leadership across the MTN footprint position him well to drive sustainable value for all stakeholders,” Ms Mulinge said.

She also thanked Ms Bateta for her stewardship of the business during the interim period.

“We extend our sincere appreciation to Sarah Bateta Okwi for her steady leadership during the interim period,” she said.

Speaking about his appointment, Mr Lubega described the opportunity as both an honour and a responsibility at a time when digital financial services are rapidly transforming economies across Africa.

“It is an honour to lead MTN Mobile Money Uganda at such an exciting time in the evolution of digital financial services,” he said.

“I look forward to working with the talented team and our stakeholders to expand access to financial solutions, enhance customer experience, and continue driving the growth of Uganda’s digital economy,” he added.

A Ugandan national, Mr Lubega also brings significant corporate governance experience, having served on several boards across MTN’s mobile money operations in Africa, including as a non-executive director in Benin, Congo Brazzaville and Guinea-Conakry.

He holds a Master of Business Administration from York University in the United Kingdom, an Executive MBA from Quantic School of Business and Technology in the United States, and a Bachelor of Science degree in Physics from Makerere University.

MTN said the appointment marks an important step in strengthening the leadership of its mobile money business as the company continues to drive financial inclusion, innovation and economic empowerment through digital financial services.

The company added that it remains committed to expanding access to secure and affordable financial solutions for individuals, households and businesses across Uganda.