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PROFILE: What You Should Know About Annette Kihuguru, Ecobank’s New Managing Director

Annette Wabunoha Kihuguru, the new Ecobank Managing Director

Ugandan women are rising! Annette Wabunoha Kihuguru is the latest to land the top most job at a banking institution. She is the next Managing Director at Ecobank Uganda, replacing Clement Dodoo, whose tour of duty at the Pan-African bank as Managing Director has come to an end after five successful years.

According to reliable industry sources, Kihuguru’s appointment as Ecobank Uganda Managing Director is pending Bank of Uganda approval but given her rich experience in management and banking sector, there’s no doubt she will be cleared.


40 Women In Top Banking Positions Named

Top jobs in Uganda’s banking sector are dominated by males. In a market of 25 commercial banks, only three women are Chief Executive Officers (CEOs); Anne Juuko, Stanbic Bank CEO, Sarah Arapta, CEO at Citi bank and Annet Nakawunde Mulindwa, the CEO at Finance Trust Bank.

Therefore, Kihuguru will become the fourth (4th) female to head a commercial bank in Uganda as Managing Director or Chief Executive Officer. But who’s Kihuguru?

Prior to her appointment as Ecobank Uganda Managing Director, she has been the Executive Director at the same institution for over five years. Together with the outgoing Managing Director Clement Dodoo, she has been instrumental in Ecobank Uganda turnaround journey.

Kihuguru has been in the banking sector for close to 30 years.

Over the years, she has worked in top positions with Uganda Commercial Bank (now Stanbic bank), Stanbic Bank Uganda, Barclays Bank Uganda (now Absa) and Ecobank Uganda as the Executive Director and Head of Commercial Banking.

She holds a Master’s Degree in Management from The Uganda Management Institute in addition to a Bachelor’s Degree in Arts (Economics and Political Science) from Makerere University.

A married woman with children, Kihuguru has in addition had various international and local trainings over the years mainly in banking.

Other responsibilities besides banking are coaching, mentoring and developing team members to enhance their strengths.

Business Focus has previously reported that it was a matter of time for Kihuguru to become a CEO of one of the banks in the country.

With Ecobank being in a stable position and posting profits for the last four consecutive years, Kihuguru will be critically watched on how she steers the Pan-African bank to greater heights.

As of December 2019, Ecobank Uganda’s assets were valued at Shs671.3bn.

In 2019, the bank recorded Shs4.1bn in net profit.

Taddewo William Senyonyi
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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