UBA Uganda Names Rita Mitala Balaka New Chairperson of Board of Directors

United Bank for Africa (UBA) Uganda Limited has appointed seasoned banking executive and governance expert Mrs. Rita Mitala Balaka as the new Chairperson of its Board of Directors, marking a leadership transition aimed at strengthening the bank’s governance framework and supporting its long-term growth strategy.

Mrs. Balaka succeeds Mr. Sebaggala Mustapha Kigozi, whose tenure as Board Chair was credited with providing strategic direction and strengthening the bank’s governance and business growth. UBA Uganda thanked Mr. Sebaggala for his leadership, commitment and contribution to the institution during his time at the helm.

The appointment places one of Uganda’s most experienced banking and governance professionals at the head of UBA Uganda’s Board as the lender continues to expand its footprint in the country’s competitive financial services sector.

Veteran Banking Executive Takes over Board Leadership

Mrs. Balaka brings more than three decades of executive leadership experience spanning banking, financial management, governance, regulatory compliance and enterprise risk management across both regional and international financial institutions.

According to UBA Uganda, her extensive experience in strategic leadership, organizational transformation and board advisory positions her to guide the bank as it pursues innovation, sustainable growth and improved value creation for customers, shareholders and other stakeholders.

The bank said her appointment reinforces its commitment to maintaining strong corporate governance while supporting Uganda’s economic development through responsible banking.

Mrs. Balaka has spent over 15 years serving at senior executive management level in some of Africa’s leading banking institutions.

Her banking career includes executive roles at Standard Bank Mauritius Limited, Stanbic Bank Uganda Limited, Citibank Uganda Limited, and Bank of Africa, where she gained extensive experience in corporate banking, international trade, financial management, regulatory compliance and risk governance.

Her professional expertise also covers strategic planning, asset growth, financial regulation and the development of enterprise-wide risk management frameworks across multiple jurisdictions.

Strong Track Record in Corporate Governance

Beyond executive banking, Mrs. Balaka has built an extensive portfolio of board leadership and governance roles across Uganda’s financial and public sectors.

She previously served as a Board Member of the Financial Intelligence Authority (FIA), contributing to oversight of Uganda’s anti-money laundering and counter-terrorism financing frameworks.

She also served as Vice Chairperson of the Board at UAP Old Mutual Insurance Uganda, where she helped guide one of the country’s integrated financial services providers.

Her governance experience further includes leadership roles within the Uganda Bankers Association, as well as board service at World Vision Uganda, Vision Fund International, and the Uganda Cancer Society, where she continues to provide strategic oversight.

In addition, she heads the Executive Program at Quality Assurance and Management Consultants (QAM), where she advises boards, senior executives and organizations on governance, leadership and risk management.

Academic and Professional Credentials

Mrs. Balaka’s professional profile is supported by advanced academic and international professional qualifications.

She holds a Master of Arts degree in Economic Policy and Planning and is a Fellow of the Association of Chartered Certified Accountants (FCCA-UK).

She was also awarded an Honorary Fellowship by the Uganda Institute of Banking and Financial Services in recognition of her significant contribution to the transformation and development of Uganda’s banking industry.

Outside the financial sector, Mrs. Balaka has remained active in community development and philanthropy.

She previously served as President of the Rotary Club of Kisugu Victoria View and has been recognized as a Level 4 Paul Harris Fellow for her contribution to humanitarian initiatives.

In 2025, she chaired Uganda’s Rotary Cancer Run, helping mobilize UGX 3.5 billion towards the construction of local cancer treatment infrastructure, demonstrating her commitment to national development beyond corporate leadership.