Kampala, July 2025 — Equity Bank Uganda announced the appointment of Claver Serumaga as its new Executive Director, Commercial Banking, in a strategic move aimed at boosting the bank’s growth in the commercial banking space and expanding its impact in Uganda’s financial sector.
Serumaga brings over two decades of banking experience across Africa, with a strong track record in driving transformation, digital innovation, and business development. In his new role, he will oversee the bank’s Commercial Banking Division, focusing on strategy, growth, and customer-centric solutions.
A Leader with Pan-African Banking Experience
Before joining Equity Bank Uganda, Serumaga served as Managing Director and CEO at NCBA Bank Tanzania, where he successfully turned around the bank’s financial performance after years of losses. Under his leadership, the bank not only returned to profitability but also saw a significant improvement in asset quality, cutting non-performing loans from double-digit figures to a healthier, single-digit range.
Earlier, he held the position of Deputy Managing Director at Bank of Africa Kenya, helping guide the bank back to profitability. As Chief Digital Officer for the Bank of Africa Group, Serumaga led the digital transformation agenda across 16 African countries, reinforcing his expertise in tech-driven banking models. He also held senior roles in Uganda, including General Manager for Business Development at Bank of Africa Uganda.
Strategic Vision and Leadership
Claver Serumaga is known for his visionary leadership and collaborative approach to building diverse, high-performing teams. He is widely respected in the East African banking community for his innovative thinking, coaching skills, and ability to lead sustainable turnarounds.
“Claver’s vast experience in commercial banking and digital transformation makes him the ideal leader to drive our ambitions forward,” said Marik Ocitti, Chairman of Equity Bank Uganda. “His appointment comes at a time when we are focused on delivering inclusive, tech-driven financial solutions to businesses across Uganda.”
Academic and Professional Credentials
Serumaga is a Fellow of the Chartered Institute of Marketing (CIM-UK) and holds an MBA in Executive Management from the University of Cape Town’s Graduate School of Business. His academic background complements his hands-on leadership style and strategic insight into Africa’s evolving banking landscape.
As he steps into this new role, Serumaga is expected to help strengthen Equity Bank Uganda’s position in commercial banking, support SME growth, and enhance customer engagement through innovation and inclusive finance.
With a strong foundation and a proven record of leading change, Claver Serumaga’s appointment signals a new chapter for Equity Bank Uganda, one focused on impact-driven banking and sustainable growth across key sectors of the economy.