Equity Bank Uganda, a subsidiary of Equity Group Holdings Plc., has appointed Claver Serumaga as its new Executive Director, Commercial Banking, a move seen as strategic in strengthening the bank’s leadership and accelerating its commercial banking ambitions.
A seasoned banker with more than 20 years of Pan-African experience, Serumaga brings a wealth of expertise in commercial banking, digital transformation, and business development. In his new role, he will be responsible for providing strategic leadership and driving growth within the bank’s Commercial Banking Division.
Prior to joining Equity Bank Uganda, Serumaga served as the Managing Director and CEO of NCBA Bank Tanzania, where he is credited with turning the bank around after a decade of financial losses. Under his leadership, the bank not only returned to profitability but also significantly improved its portfolio quality, reducing it from double-digit non-performing loans to single-digit levels.
Before that, Serumaga was Deputy Managing Director at Bank of Africa Kenya (BOAK), where he played a key role in steering the bank back to profitability. He also served as Chief Digital Officer for the Bank of Africa Group, leading the digital transformation agenda across 16 African countries. Earlier in his career, he was General Manager for Business Development at Bank of Africa Uganda, solidifying his experience in regional banking leadership.
Announcing his appointment, Marik Ocitti, Chairman of Equity Bank Uganda, said:
“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. 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 is known for his transformational leadership, strategic foresight, and ability to build diverse and inclusive teams that embrace forward-thinking methodologies. His reputation as an astute banker, unconventional marketer, brilliant coach, and team player has made him a standout figure in the regional banking industry.
He is a Fellow of the Chartered Institute of Marketing (CIM-UK) and holds an MBA in Executive Management from the Graduate School of Business, University of Cape Town.
With a clear track record of success across multiple markets and institutions, Claver Serumaga steps into his new role with high expectations and a mandate to further elevate Equity Bank Uganda’s footprint in the country’s dynamic banking sector.
