Finance and Banking
What You Should Know About Claver Serumaga, Equity Bank Uganda’s New Executive Director
Equity Bank Uganda has appointed seasoned banker Claver Serumaga as its new Executive Director, signalling a bold move in its strategy to scale growth and deepen financial inclusion across Uganda’s commercial banking sector.
With more than two decades of banking experience across Africa, Serumaga brings a wealth of knowledge in commercial banking, digital transformation, and business development—skills the bank hopes will power its next phase of expansion.
Before joining Equity Bank Uganda, Serumaga served as the CEO of NCBA Bank in Tanzania, where he was credited with strengthening the bank’s operations in one of East Africa’s most competitive markets. Before that, he was the Deputy Managing Director at Bank of Africa Kenya and also held the pivotal role of Chief Digital Officer at Bank of Africa Group. In that role, he spearheaded digital innovation across 16 African countries—a track record that places him at the forefront of pan-African financial technology leadership.
His relationship with Uganda’s banking landscape also runs deep. Earlier in his career, Serumaga served as General Manager for Business Development at Bank of Africa Uganda, giving him direct insight into the local market.
“His deep understanding of commercial banking, digital transformation, and business development aligns seamlessly with our mission to deliver innovative, inclusive, and transformative financial solutions to our customers,” said Marik Ocitti, Chairman of Equity Bank Uganda, in a statement. “We are confident that Mr Serumaga’s extensive leadership expertise and proven track record of driving business growth will strengthen our leadership team and position Equity Bank Uganda to continue its growth trajectory.”
Serumaga’s academic background is equally impressive. He holds a Master of Business Administration in Executive Management from the University of Cape Town, South Africa, and a Bachelor of Arts in Social Sciences from Makerere University in Kampala. He is also a Fellow of the Chartered Institute of Marketing (UK), underscoring his blend of technical banking acumen with customer-focused marketing strategy.
As he steps into his new role, all eyes will be on how Serumaga leverages his continental experience and digital-first approach to drive Equity Bank Uganda’s ambitions in a rapidly evolving financial landscape.
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