Outgoing Managing Director, Fabian Kasi (R) shares a handover handshake with incoming Managing Director, Godfrey Byekwaso (2nd L) as Board Chairman of Centenary Bank Uganda, Bwoch Gustavio Orach Lujwero (1st L) cheers
HABARI DAILY I Kampala, Uganda I The banking industry in Uganda has a way of moulding hardened managers on their way to greatness, and few careers illustrate that better than that of Fabian Kasi, whose 16-year tenure as Managing Director of Centenary Bank has left an enduring mark on Uganda’s financial sector.
Kasi has officially handed over the reins to Godfrey Byekwaso, who assumed office as Managing Director on July 1, 2026, in what has been widely viewed as a carefully planned leadership transition rather than a change in direction. The appointment underscores Centenary Bank’s commitment to continuity, institutional stability and sustainable growth after one of the most successful leadership eras in Uganda’s banking history.
For many in the banking industry, Kasi’s retirement marks the end of an era defined by remarkable growth, prudent financial management, innovation and an unwavering commitment to financial inclusion.
When Kasi took over the leadership of Centenary Bank, the institution was already an established indigenous financial institution. However, over the next 16 years, he transformed it into Uganda’s largest commercial microfinance bank and one of the country’s strongest financial institutions.
Under his stewardship, Centenary Bank recorded unprecedented growth across virtually every key performance indicator.
By December 2025, the bank’s total assets had grown to more than Shs8.6 trillion, while customer deposits reached Shs5.27 trillion. Its loan portfolio expanded to Shs4.16 trillion, reflecting the bank’s growing confidence in financing households, businesses and agriculture across the country.
Profitability also reached record levels, with profit after tax rising to Shs424.2 billion, cementing Centenary Bank’s position among Uganda’s most profitable banks.
Perhaps even more impressive was the bank’s growing customer base. During Kasi’s tenure, Centenary Bank attracted more than 3.4 million customers, making it one of the country’s most trusted financial institutions and reinforcing its leadership in financial inclusion.
Much of this success has been built on a philosophy that prioritised serving ordinary Ugandans, particularly those in rural and underserved communities who traditionally had limited access to formal banking services.
Through an aggressive branch expansion strategy, Centenary Bank extended its footprint across Uganda, bringing financial services closer to farmers, traders, small businesses and salaried workers.
Kasi also presided over the bank’s digital transformation, investing heavily in mobile banking, agency banking and other digital financial services that have made banking more convenient and accessible.
Industry observers credit his administration with balancing rapid expansion while maintaining strong corporate governance, prudent risk management and financial discipline—qualities that enabled the bank to grow without compromising stability.
His leadership earned Centenary Bank widespread confidence from regulators, shareholders, customers and development partners alike.
The seamless appointment of Godfrey Byekwaso reflects that culture of careful planning.
Unlike abrupt leadership changes seen in many institutions, Byekwaso’s promotion represents a succession strategy built over several years.
Having joined Centenary Bank in 2012, Byekwaso has been part of the executive team that drove much of the bank’s recent growth.
As General Manager Finance and Chief Financial Officer, he played a central role in strengthening the bank’s financial performance, enhancing operational resilience and supporting its long-term growth strategy.
He worked closely with Kasi during a period when the bank expanded its national presence, strengthened digital banking and consolidated its dominance in Uganda’s retail and microfinance banking sector.
The relationship between the outgoing and incoming managing directors extends even further back.
Before working together at Centenary Bank, Kasi and Byekwaso had previously served together at FINCA Uganda, developing a professional relationship founded on financial discipline, customer-focused service delivery and institutional excellence.
That longstanding partnership is expected to make the leadership transition smooth while preserving the values that have defined Centenary Bank’s success.
Byekwaso also brings valuable regional experience to his new role.
In April 2023, he was appointed Deputy Managing Director of Centenary Bank Malawi following the group’s acquisition of the Malawian bank—the first cross-border banking expansion by a Ugandan bank.
He was promoted to Managing Director in October 2024 and successfully led the institution through a turnaround that restored profitability.
His return to Uganda therefore comes with broader strategic exposure and practical experience in leading banking operations beyond the country’s borders.
Throughout his career, Byekwaso has earned recognition for excellence in financial leadership.
He won the Finance Transformation Award in 2018, the Strategy Execution Award in 2019 and was named CFO of the Year in 2020 at the ACCA Uganda CFO Awards.
Academically, he holds a Master of Business Administration in Finance and a Bachelor of Commerce in Accounting from Makerere University. He is also a Fellow of the Association of Chartered Certified Accountants (FCCA) and a member of the Institute of Certified Public Accountants of Uganda.
Beyond banking, he has served on numerous corporate, professional and community boards in Uganda and Malawi, including the Bankers Association of Malawi, the National Switch of Malawi, the Inter-University Council for East Africa and various faith-based organisations.
He has also played leadership roles within Rotary and professional accounting bodies while remaining actively involved in community development initiatives.
As Centenary Bank embarks on this new chapter, industry analysts believe the institution is well positioned to sustain the momentum established during Fabian Kasi’s tenure.
Rather than signalling a departure from the past, the transition represents the continuation of a carefully nurtured vision built on prudent management, innovation and financial inclusion.
For customers, shareholders, employees and regulators, the change in leadership offers reassurance that the values which transformed Centenary Bank into one of Uganda’s strongest financial institutions will remain firmly intact as the bank pursues its next phase of growth and continues expanding access to inclusive financial services across the country.
