Business

Uganda’s first female bank MD bows out

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By ISMAIL MUSA LADU

Posted  Wednesday, April 16  2014 at  01:00

In Summary

Ms Monday served the industry for about two decades.

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Kampala.
Ms Edigold Monday, the only Ugandan woman to have risen to the position of a managing director (MD) of a top pan-African bank has resigned after serving the banking industry for about two decades.
Ms Monday has won the admiration of many including the Central Bank governor, Emmanuel Tumusiime Mutebile who believes that she has left the industry at a time her expertise is handy.

“Under Ms Monday’s leadership, Bank of Africa strengthened its financial position with total assets growing by 91 per cent, deposits by 85 per cent, and loans and advances by 74 per cent. The bank also expanded its branch network from 16 branches in 2009 to 33 branches—all well spread across the country,” Mr Mutebile said at the farewell dinner hosted in her honour last week in Kampala.

He continued: “Let me also point out that Ms Monday was the first Ugandan female managing director of a commercial bank in Uganda and held the office of vice-chairperson of the Uganda Bankers Association for 2012 and 2013. And for that, I would like to congratulate her for her achievements while at the helm of Bank of Africa – Uganda.”

Brief work history
1994: Ms Monday starts her banking career as an accountant trainee at Centenary Bank before joining Commercial Microfinance (CMF), and rising to the level of executive director.
2008: CMF becomes Global Trust Bank where she serves briefly as interim executive director at the bank before leaving to join Bank of Africa.
2009: Ms Monday serves as Bank of Africa - Uganda’s executive director before she is named managing director in December 2010.
2014: Accomplished banker resigns as Bank of Africa - Uganda’s managing director.

iladu@ug.nationmedia.com