Julius Kakeeto Re-Elected UBA Chairperson as Banking Industry Assets Hit Shs53 Trillion: Top 10 Banks Dominate Market Share

Julius Kakeeto, the Managing Director of PostBank Uganda, has been re-elected Chairperson of the Uganda Bankers’ Association (UBA) following the association’s Annual General Meeting held last Friday. Kakeeto's reappointment reflects continued confidence by industry leaders in his stewardship and vision for the future of Uganda’s financial sector.

In his remarks, Kakeeto expressed deep appreciation for the trust placed in him once again by Uganda’s banking community.

“I am deeply honoured that the banking industry and my peers have re-instilled their trust in me to continue leading this esteemed body,” he said.

A Transformative First Term

During his first term as Chairperson, UBA made significant headway in strengthening the banking sector’s role in Uganda’s socio-economic transformation. Notably, total industry assets grew by 8%, reaching an all-time high of UGX 53.6 trillion. This growth underscores increased resilience, innovation, and deeper financial inclusion across the country.

Additionally, UBA introduced a landmark Environmental, Social, and Governance (ESG) framework to align Uganda’s banking operations with global sustainability trends. The framework is now actively guiding banks toward responsible banking practices that positively impact people, the planet, and profit.

The association also intensified its stakeholder engagements, forging meaningful relationships with regulators, policymakers, judicial actors, and professional bodies. These efforts aim to build a coherent financial ecosystem that fosters trust, transparency, and development.

UBA under Kakeeto's leadership successfully organized several influential platforms including:

Annual Bankers Conference

Women Economic Empowerment Summit

Bancassurance Thought Leadership Forum

Anti-Fraud Forum

These events have been instrumental in shaping dialogue around innovation, regulation, gender equity, and risk management in Uganda’s financial services sector.

Market Structure: Top 10 Banks Control Over 81% of Assets

The continued dominance of Uganda’s top 10 banks remains a key feature of the industry landscape, controlling approximately 81.24% of the total market share. This concentration indicates the scale and influence of major players, but also highlights the need for continued support to smaller banks to ensure a competitive and inclusive financial market.

Vision for the Future: Aligning with National Priorities

Looking ahead, Kakeeto reaffirmed UBA’s commitment to aligning the banking sector with the Government’s ATMS strategy—Agriculture, Technology, Minerals (including Oil and Gas), and Science and Technology. This strategy, envisioned to drive Uganda's tenfold economic growth by 2039, is expected to unlock new investment flows and drive inclusive development.

Kakeeto emphasized the importance of strategic financing to Uganda’s priority sectors. “We remain committed to aligning the business strategies of supervised financial institutions with Government’s ATMS strategy, which is central to driving Uganda’s targeted tenfold economic growth by 2039,” he stated.

Embracing Sustainability

Sustainability remains a cornerstone of UBA’s ongoing agenda. Under Kakeeto's renewed leadership, the association will continue embedding ESG principles at the heart of banking practices. This includes pushing for more green finance products, supporting renewable energy investments, and fostering corporate governance excellence.

Julius Kakeeto, a respected figure in Uganda’s banking industry, has steered PostBank through a dynamic transformation journey. Under his leadership, PostBank transitioned into a fully licensed Tier 1 commercial bank, significantly expanding its branch network, digital banking infrastructure, and financial literacy programs targeting rural populations.

His re-election not only recognizes his personal leadership credentials but also signals a continued push towards innovation, stability, and inclusion within Uganda’s financial services sector.