Claver Serumaga stands among East Africa’s most consequential banking executives,a leader whose career has been defined not by the comfort of thriving institutions, but by the courage to walk into struggling ones and turn them around.

Currently serving as Executive Director, Commercial Banking at Equity Bank Uganda Limited, Serumaga brings more than two decades of pan-African experience to one of Uganda’s most ambitious financial institutions.

His appointment to Equity Bank Uganda in mid-2025 came as no surprise to those who have tracked his trajectory.

With a reputation as an astute banker, unconventional marketer, brilliant coach, and consummate team builder, Serumaga has consistently been tapped to lead institutions through complexity and to deliver results where others have fallen short.

At Equity Bank Uganda, a subsidiary of the formidable Equity Group Holdings Plc., Serumaga stepped into an institution with continental ambitions.

His mandate is clear: provide strategic leadership, drive growth in the Commercial Banking Division, and help position Equity Bank Uganda as the dominant force in Uganda’s financial sector.

Career journey

Leadership roles

• Executive Director, Commercial Banking Equity Bank Uganda Limited, 2025 – Present
• Managing Director & CEO NCBA Bank Tanzania
• Deputy Managing Director Bank of Africa Kenya (BOAK)
• Chief Digital Officer Bank of Africa Group managing 16 Countries
• General Manager, Business Development Bank of Africa Uganda

Defining achievements

• Returned NCBA Tanzania to profitability After more than a decade of financial losses
• Reduced NPL ratio to single digits from double-digit non-performing loan levels at NCBA TZ
• Steered BOAK to profitability As Deputy MD at Bank of Africa Kenya
• Led digital transformation across 16 markets As Chief Digital Officer, Bank of Africa Group

Leadership pillars

• Turnaround leadership. Proven ability to restore profitability and rebuild institutional credibility in challenging markets across East Africa.
• Digital transformation. Architected fintech strategies across 16 African nations, embedding digital-first thinking into commercial banking operations.
• Inclusive growth. Aligns commercial banking ambitions with financial inclusion — driving access and impact for underserved segments across Uganda.

Academic credentials

• FCIM-Chartered Institute of Marketing, United Kingdom
• MBA in Executive Management
• Graduate School of Business- University of Cape Town, South Africa
• BA in Social Sciences
• Makerere University Kampala, Uganda
• 20+ Years Pan-African Banking across Uganda, Kenya, Tanzania,16-country digital portfolio

In a rapidly evolving African financial landscape where digital disruption, financial inclusion mandates, and competitive pressure converge, Serumaga represents a rare profile: a leader equally at home with strategy and execution, with technology and people, and with multinational scale and local market nuance.

His arrival at Equity Bank Uganda signaled a bold intent to accelerate commercial banking growth while deepening the bank’s digital and inclusive finance footprint