KAMPALA, Uganda : The Managing Director of Pearl Bank, Julius Kakeeto, has concluded a transformative two-year tenure as Chairman of the Uganda Bankers Association, leaving behind a legacy of regulatory reform, sustainability leadership, digital security innovation and financial sector inclusion.
Kakeeto assumed leadership of the Uganda Bankers Association (UBA) in May 2024 for what is traditionally a one-year term. However, due to his leadership and stewardship during a period of significant industry transformation, member institutions extended his tenure for an additional year, culminating in the completion of his term this month.
His leadership at UBA coincided with a major transition at Pearl Bank, formerly PostBank Uganda, as the institution repositioned itself as a fully-fledged indigenous commercial bank focused on fostering prosperity for Ugandans through sustainable financial inclusion and entrepreneurship support.
During his tenure, Kakeeto steered the banking sector through evolving regulatory requirements, rapid technological changes and growing demand for sustainable and inclusive banking practices. Under his leadership, UBA strengthened its role from a representative body into a strategic partner in shaping Uganda’s economic transformation agenda.
Strengthening Regulatory and Governance Frameworks
One of the hallmarks of Kakeeto’s tenure was his commitment to improving collaboration between the banking industry and key regulators. He facilitated high-level engagements with the Bank of Uganda, the Financial Intelligence Authority and the Capital Markets Authority to streamline licensing processes and address industry concerns.
The engagements also supported implementation of new guidelines on corporate governance, climate risk management and cyber risk management, helping financial institutions align with emerging global standards.
Kakeeto further strengthened the banking industry’s policy influence through direct engagements with the Ministry of Finance, Planning and Economic Development to ensure banking sector priorities aligned with Uganda’s national budget and macroeconomic stability goals.
In 2025, he spearheaded the establishment of four high-level CEO workstreams focusing on the economy and sustainability, alternative dispute resolution and judiciary reforms, regulatory reforms, and emerging technology. These workstreams were designed to provide strategic industry insights and accelerate banking sector transformation.
To build stronger governance structures within the industry, UBA also launched its inaugural governance training programme for executive directors in partnership with Strathmore Business School, aimed at strengthening leadership resilience and stakeholder management.
Driving Uganda’s Economic Transformation Agenda
Kakeeto’s tenure also focused heavily on positioning the banking industry as a catalyst for Uganda’s long-term economic growth.
Under his leadership, UBA commissioned an industry-led technical working group to develop the banking sector’s response to the government’s Accelerated Transformation Strategy (ATMS). The strategy seeks to grow Uganda’s Gross Domestic Product from approximately US$50 billion to US$500 billion by 2040.
The banking industry’s response framework prioritizes mobilization of capital for small and medium enterprises, expansion of private sector credit and implementation of long-term financing initiatives intended to support Uganda’s industrialization and economic competitiveness over the next 15 years.
Advancing ESG and Women’s Economic Empowerment
Kakeeto also emerged as a leading advocate for environmental, social and governance (ESG) integration within Uganda’s financial sector.
In June 2024, UBA launched the Banking Industry ESG Framework, marking a major milestone in embedding sustainability principles across Uganda’s banking and financial services sector. The framework seeks to drive sustainable banking practices while supporting broader economic transformation goals.
The association further strengthened its social impact agenda by advancing women’s economic empowerment initiatives. Following the launch of the Women Economic Empowerment Initiative in 2023, Uganda’s banking industry formally endorsed the United Nations Women Empowerment Principles in 2025.
The initiative reinforced industry-wide commitment to gender equality and women’s participation in the financial sector.
In November 2025, UBA also signed the We-Fi Code, a global initiative coordinated through the World Bank. Uganda officially became a We-Fi Code country on November 19, 2025, with the Bank of Uganda designated as the national data aggregator responsible for collecting and reporting gender-disaggregated financial data.
The initiative aims to increase access to finance for women entrepreneurs and establish standardized industry data systems that promote inclusive financing.
During the same period, female representation within Uganda’s banking workforce increased significantly from 47 percent in 2024 to 53 percent in 2025, reflecting broader sector-wide shifts toward gender inclusion.
Combating Financial Crime and Strengthening Digital Security
Kakeeto’s leadership also focused on safeguarding Uganda’s rapidly growing digital financial ecosystem.
In April 2025, UBA officially launched the Financial Sector Anti-Fraud Consortium (AFC), a collaborative platform aimed at combating cybercrime and digital financial fraud through intelligence sharing and coordinated response mechanisms.
The consortium brought together a wide range of stakeholders, including the Uganda Bankers Association, payment systems providers such as MTN MoMo, Airtel Money, Pegasus Technologies and Yo Uganda, alongside the Bank of Uganda, the Uganda Communications Commission, the Financial Intelligence Authority and law enforcement agencies.
The initiative established a unified approach to addressing cyber threats and strengthening trust in Uganda’s digital economy.
A Lasting Legacy
As he concludes his term, Kakeeto leaves behind a banking industry that is increasingly collaborative, digitally resilient, inclusive and sustainability-driven.
His leadership also earned UBA national recognition, including awards from aBi Finance for promoting green finance and from the Uganda Revenue Authority for supporting Uganda’s national tax base.
Industry stakeholders say his tenure successfully anchored UBA’s 2025–2027 strategic cycle and positioned Uganda’s banking sector to play a greater role in driving national economic transformation.
As Pearl Bank continues its own growth journey under his stewardship, Kakeeto’s contribution to Uganda’s financial sector is expected to remain influential in shaping the country’s banking landscape for years to come.
