Anthony Kituuka ED Equity Bank Uganda 11zon

Equity Bank MD Anthony Kituuka Resigns Amid Leadership Challenges & Scandals

Share this article

By Kato Jamil

Equity Bank Uganda Limited (EBUL) has announced the resignation of its Managing Director, Mr. Anthony Kituuka, effective November 28, 2024. The Board of Directors has accepted Mr. Kituuka’s resignation, with a notice period to allow for a smooth transition and the appointment of a successor.

Mr. Kituuka’s journey with Equity Bank began in 2014. Over the years, he has held several leadership roles, including Executive Director from 2016 and Managing Director since November 2022.

In his parting statement, Mr. Kituuka expressed gratitude for his tenure at Equity Bank: “I am proud of the time that I have served in Equity. I want to thank the Board for their leadership, the staff, and all our stakeholders for their support. I wish them well as they purpose to be more significant and impact more lives in line with the Africa Recovery and Resilience Plan, which targets to impact 100 million customers by the year 2030.” 

Chairman of the Board of Directors, Mr. Mark Ocitti, commended Mr. Kituuka’s contributions: “We are grateful to Mr. Kituuka for his dedication and trust in the brand. His leadership has left an indelible mark on Equity Bank Uganda.”  

Kituuka Leaves The Bank With A Dirty Image 

Alongside its impressive growth, the bank has faced challenges that have dented its reputation during Kituuka’s reign. Reports of fraudulent activities, particularly unauthorized withdrawals from customer accounts, have occasionally surfaced, raising concerns about the institution’s internal controls.

Notable Scandals

  1. Unauthorized Withdrawals: There have been instances of customers alleging that money disappeared from their accounts without authorization. In some cases, investigations pointed to compromised agents or staff members who exploited loopholes in the bank’s systems.
  2. Cybersecurity Concerns: Equity Bank Uganda has also faced issues related to cybersecurity, with some customers falling victim to scams linked to insufficient security measures in digital platforms.
  3. Legal Disputes: The bank has been entangled in disputes over the management of certain customer accounts, including allegations of negligence in handling customer complaints about fraud.

Equity Bank Uganda is a 100% owned subsidiary of Equity Group Holdings Plc, a Pan-African financial services giant with operations in seven countries. The Group serves 22 million customers with an asset base of USD 14 billion and a robust digital banking ecosystem.

As the search for a new Managing Director begins, Equity Bank Uganda faces the dual challenge of maintaining its growth trajectory while addressing legacy issues related to customer trust and system integrity.

Have An Advert Or Article You Want Us To Publish? Email: swiftnews0gmail.com


Share this article

Related posts

Just In: Justice Kisaakye Succumbs To Judiciary’s Bloody Fights, Throws In Towel!

Swift Daily News

Swift Doctor: Reasons To Boil Banana Flowers And Drink Water Regularly

Swift Daily News

”Come & Empower Us Or Forget Our Support In 2026” – Northern Uganda Bazzukulu Petition Museveni’s ONC Boss Namyalo

Swift Daily News

Opinion: Who Is The Boss? Museveni Or Institutions?

Swift Daily News

Hakuna Mchezo! Museveni Orders Buoyant Landlords To Cough Illegal Busulu & Halt Evictions Immeditely Or Go To Luzira

Swift Daily News

See The Only School In Uganda Where Male Students Wear Skirts And Why!

Swift Daily News

Leave a Comment