UDB, Centenary Bank scoop top banking accolades

Peter 30th May, 2024 Financial Services Pedson Mumbere
UDB, Centenary Bank scoop top banking accolades

UDB boss Patricia Ojangole poses with the awards the institution won in Nairobi.


The Uganda Development Bank (UDB) and Centenary Bank, an indigenous Ugandan bank, have won awards at the prestigious Banker of the Year Awards held in Nairobi, Kenya, on May 29.

UDB, the country's premier Development Finance Institution (DFI), was crowned the Regional Bank of the Year (East Africa), after beating off stiff competition from Export-Import Bank, Ecobank, KCB Group, and the United Bank for Africa, among others.

Uganda’s wholly indigenous Centenary Rural Development Bank Ltd scooped the Affirmative Finance Action for Women in Africa (AFAWA) Bank of the Year Award, which recognises banks that have greatly incorporated the growth of women-led small and medium-sized enterprises as part of their SME strategy.

  • Centenary’s dedication to advancing women's access to finance was described as “truly inspiring.”

Kamau Thugge, the Governor of the Central Bank of Kenya, was named Cen-tral Bank Governor of the year.

UDB was credited for showing leadership in every category required of a hugely progressive development bank, making significant contributions in uplifting the lives of Ugandans whilst weathering extreme external shocks, and extending socially and economically supportive lending that improved institutional reach and performance-yet still put powerful green and sustainability strategies at its heart.

  • Patricia Ojangole, the UDB Managing Director, expressed delight at the recognition, which she said was a testament to the hard work, dedication, and resolve to not only accelerate financial inclusion in the country but also facilitate Uganda’s socio-economic transformation.

UDB also received a Silver Award (A+ rating, under the category of Best Per-forming DFI) for adhering to the strict prudential guidelines of the Associa-tion of African Development Finance Institutions (AADFI) and was one of the nominees for the Bank of the Year award, which was won by African Export Import Bank (Afreximbank).

The well-respected African Banker Awards, now in its 18th edition, honour the accomplishments of individuals and institutions that have made a major contribution to the expansion and advancement of Africa's banking industry in the previous year.

Some of the 2024 winners:

Banker of the Year - Admassu Tadesse, Managing Director, TDB Group; Bank of the Year - African Export Import Bank (Afreximbank); Central Bank Governor of the Year - Kamau Thugge, Governor of the Central Bank of Kenya; Sustainable Bank of the Year - Standard Bank Group (mother company of Stanbic Bank).

  • DFI of the Year - Arab Bank for Economic Development in Africa (BADEA); AFAWA Bank of the Year Award - Centenary Rural Development Bank; Fintech of the Year -Flutterwave; SME Bank of the Year – Ecobank
  • Regional Bank of the Year (East Africa) - Uganda Development Bank (UDB); Regional Bank of the Year (West Africa) - United Bank for Africa (UBA).

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