Dr Patricia Adong Ojangole, Managing Director of Uganda Development Bank (UDB), has been named African Banker of the Year at the 19th African Banker Awards, held on the sidelines of the African Development Bank’s Annual Meetings.
The awards ceremony, hosted at the Sofitel Hotel in Abidjan on Wednesday 28 May, recognised leaders and institutions driving innovation and development in Africa’s financial sector. Dr Ojangole was honoured for her leadership in transforming Uganda’s development finance landscape and expanding access to credit for key sectors of the economy.
In a post on social media platform X (formerly Twitter), UDB confirmed her win, describing it as “a proud moment for Uganda and Africa”.
The African Banker of the Year award recognises an individual who has delivered strong financial results while championing inclusive growth, integrity, and innovation. The judging panel cited Dr Ojangole’s commitment to empowering communities and facilitating access to finance for small and medium-sized enterprises (SMEs) and women-led businesses.
Speaking after receiving the award, Dr Ojangole said: “It gives me great honour to receive this recognition. This award is a foundation for me to advance Africa’s development agenda, leveraging tailored financial solutions that respond to the needs of Africans in a sustainable manner.”
She added that the award reflects “hard work, resilience, consistency, and a commitment to serve the region”.
Under her leadership, UDB has significantly increased lending to strategic sectors of Uganda’s economy, with a focus on manufacturing, agriculture, and health. The bank has also prioritised projects with broad socio-economic impact, particularly in underserved communities.
Dr Ojangole emerged winner in a highly competitive category. Other nominees included Abdulmajid Mussa Nsekela of CRDB Bank (Tanzania), Jeremy Awori of Ecobank, Karim Awad of EFG Holding, Léon Konan Koffi of AFG Holding, Mukwandi Chibesakunda of Zanaco Inc, and Sidi Ould Tah, the newly appointed President of the African Development Bank (AfDB).
This year’s awards highlighted the increasing influence of development finance institutions (DFIs) in catalysing investment and supporting Africa’s economic transformation. UDB was among six DFIs recognised, alongside the Trade and Development Bank Group (TDB), Afreximbank, Bank of Industry (BOI), African Trade & Investment Development Insurance (ATIDI), and Africa Finance Corporation (AFC).
Commenting on the importance of financial sovereignty, Awards Committee Chair Omar Ben Yedder said: “To paraphrase Thomas Sankara: the ones who finance you, rule you. Africa needs strong, African-owned banks.”
Dr Ojangole’s professional career spans over 13 years across several African countries, including Kenya, Tanzania, Namibia, Swaziland, Lesotho and Botswana, in areas such as credit, risk management, and finance. She joined UDB as Head of Internal Audit before rising to her current role.
She holds a Bachelor of Commerce from Makerere University and an MBA from the Eastern and Southern African Management Institute in Arusha, Tanzania. She is a Fellow of the Association of Chartered Certified Accountants (UK), and a member of both the Institute of Certified Public Accountants of Uganda and the Institute of Internal Auditors.
In March 2025, she earned a PhD from Stellenbosch Business School, with a thesis focused on structural transformation, private sector credit, and economic growth in Uganda.
The Uganda Development Bank Limited is a state-owned development finance institution focused on accelerating socio-economic transformation through targeted lending and strategic investments.
