Opportunity Bank names Allen Semboze CEO as lender pushes digital growth amid tighter margins

Opportunity Bank Uganda has named Allen Semboze as its new Chief Executive Officer, placing a veteran microfinance executive at the helm as the lender works to convert a recent strategic repositioning into stronger growth.

Semboze takes over from Brian Collins Amanyire, who had been serving as Acting Chief Executive Officer following the departure of Owen Amanya. Amanyire had steered the bank through its transition to a credit institution while keeping its strategic focus on financial inclusion, agriculture finance, and digital banking.

The appointment comes nearly two years after Opportunity Bank shifted from a Tier I commercial bank to a Tier II credit institution — a regulatory change that stripped it of the ability to hold checking accounts or deal in foreign exchange, but allowed it to keep taking deposits and issuing loans.

Announcing the move, the bank described Semboze as a seasoned financial services executive with more than two decades of experience in banking, digital financial services, and microfinance. “Allen brings a wealth of expertise, a passion for innovation, and a shared commitment to expanding opportunity for the communities we serve,” the bank said in a statement, adding that his leadership was expected to strengthen its mission of delivering accessible, innovative financial solutions to individuals, businesses, and communities.

A digital-first mandate

Semboze inherits a bank that is leaning hard into digital transformation. Digital transaction volumes grew 1.8 times during 2025, while transaction values rose 2.5 times, and the share of customers migrating from over-the-counter banking to digital channels climbed to 69 percent, up from 54 percent a year earlier.

The bank has also been expanding its social-impact lending. Agriculture now accounts for more than a third of its loan portfolio, and the bank opened a fully-fledged branch inside the Rwamwanja Refugee Settlement, pushing refugee lending to UGX 1.2 billion, while also joining the Global Alliance for Banking on Values.

Balance sheet growing, margins under pressure

Financially, the picture is mixed. Total assets rose to UGX 274.9 billion from UGX 265.9 billion a year earlier, and the net loan book grew 6.2 percent, even as rising operating costs and higher funding expenses weighed on profitability. On the capital side, the bank remains well cushioned: its total capital adequacy ratio stood at 20.74 percent, comfortably above the regulatory minimum, giving it room to keep lending as it grows.

Semboze steps in at a time when Uganda’s banking sector is becoming increasingly competitive and digital-first, putting pressure on mid-sized lenders like Opportunity Bank to differentiate on technology and niche lending — such as agriculture and refugee finance — rather than scale alone.

Background

Before joining Opportunity Bank, Semboze served as CEO of ASA Microfinance (Uganda) Limited from August 2024 to July 2026. He sits on the board of the Association of Microfinance Institutions of Uganda, representing Bank of Uganda-regulated Tier One, Tier Two, and Tier Three institutions. He recently completed an International Executive Development Leadership programme at the University of Cape Town’s Graduate School of Business, and holds a Master of Science in Economics and Finance from the University of Bradford.