UDB’s Patricia Ojangole is Africa’s banker of the year

May 30, 2025 in Companies, Finance by Editor

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Dr. Patricia Ojangole, the Managing Director of Uganda Development Bank (UDB), has been named Banker of the Year at the 19th African Banker Awards held in Abidjan, becoming the first Ugandan and only the second woman to receive the prestigious honour.

The award, presented during the African Development Bank Annual Meetings at the Sofitel Hotel, celebrates an exceptional leader in African banking who has demonstrated vision, innovation, and an impactful role in socio-economic development.

“It gives me great honour to receive this recognition. This award is a foundation for me to advance Africa’s development agenda by leveraging tailored financial solutions that respond to the needs of Africans in a sustainable manner,” said Dr. Ojangole upon receiving the award. “This is a testament of hard work, resilience, consistency and commitment to serve the region.”

Dr. Ojangole was recognised for her inspirational leadership in transforming UDB into a modern and impactful development finance institution. Under her stewardship, UDB’s assets have grown from UGX 109 billion in 2013 to UGX 1.78 trillion in 2024, marking a tenfold expansion and solidifying its role in Uganda’s economic transformation.

The judging panel commended leaders who empowered women, supported SMEs, and expanded financial access. Dr. Ojangole stood out among a shortlist of high-profile nominees including Ecobank CEO Jeremy Awori, CRDB’s Abdulmajid Mussa Nsekela, and Afreximbank’s Sidi Ould Tah.

The ceremony also saw UDB recognised for outstanding performance in Uganda’s Agricultural Credit Facility (ACF) and the Small Business Recovery Fund (SBRF), receiving accolades from the Bank of Uganda for timely loan repayments and support for value-added agriculture.

UDB was among six African development finance institutions honoured this year, alongside Afreximbank, the Africa Finance Corporation, Trade and Development Bank Group (TDB), African Trade & Investment Development Insurance (ATIDI), and Nigeria’s Bank of Industry (BOI).

Dr. Ojangole is a seasoned accountant with over two decades of experience in banking and finance. She holds a PhD and an MPhil in Development Finance from the University of Stellenbosch Business School and has served on multiple boards, including the Uganda Bankers Association and Busitema University Council.

Her leadership continues to position UDB as a critical player in Uganda’s development agenda, with a focus on financing sectors that drive industrialisation, job creation, and inclusive growth.

The African Banker Awards, organised by African Banker magazine under the patronage of the African Development Bank, celebrate excellence and innovation in the continent’s banking sector and inspire a new generation of leaders shaping Africa’s financial future.