MTN Mobile Money (U) Limited has announced that its Managing Director, Richard Yego, will step down on 28 February 2026, bringing to an end a four-year term at the helm of the fintech company.
In a statement, the Board of Directors praised Yego for his leadership and role in driving the company’s growth. The Board also named the current Chief Finance Officer, Sarah Bateta Okwi, as Acting Managing Director, effective 1 March 2026, to ensure a smooth leadership transition.
Okwi, a seasoned finance professional with nearly 20 years of experience within the MTN Group, takes over at a critical time as MTN Mobile Money prepares to operate as a standalone business, separate from the main telecommunications unit.
The leadership change comes as the fintech arm posts strong performance. MTN Uganda recently announced a 40 per cent increase in its second interim dividend to Shs 10.5 per share, supported by solid third-quarter results.
The fintech segment was a major contributor, recording a 17.9 per cent rise in revenue to Shs 809 billion. MTN MoMo led this growth, with transaction values increasing by 23 per cent to Shs 140.8 trillion and the number of active users reaching 14.2 million.
The Board assured customers, partners and investors that operations will continue without disruption and said a permanent Managing Director will be appointed in due course.
