MTN Mobile Money Uganda has appointed veteran telecommunications and financial services executive Phrase Lubega as its new Managing Director, marking a significant leadership transition as the company seeks to deepen financial inclusion and accelerate digital innovation across Uganda.
The appointment, announced by the Board of Directors of MTN Mobile Money (U) Limited, remains subject to regulatory approval by the Bank of Uganda.
Lubega brings more than three decades of experience across telecommunications, information technology, and financial services, having held several senior leadership positions within the MTN Group and across Africa’s fintech ecosystem.
Prior to his appointment, Lubega served as Interim Managing Director of MoMo Payment Service Bank in Nigeria, where he oversaw the implementation of the bank’s long-term strategy and digital banking model. During his tenure, the institution recorded revenue growth, improved operational efficiencies, and introduced new products aimed at strengthening its competitiveness in the market.
His career within MTN has seen him occupy strategic positions, including Group Executive for Fintech Commercial Operations and General Manager for Commercial and Go-To-Market functions. In these roles, he played a central role in expanding mobile financial services across multiple African markets, driving customer acquisition, retention, and growth of mobile money operations.
Speaking on the appointment, Serigne Dioum, Chief Executive Officer of MTN Group Fintech, expressed confidence in Lubega’s ability to lead the next phase of the company’s growth.
“We are delighted to appoint Phrase Lubega as Managing Director of MTN Mobile Money Uganda. He brings deep market expertise, strong execution capability and a proven track record of scaling mobile financial services across diverse markets. His leadership will be instrumental as we continue expanding access to inclusive, secure and innovative digital financial solutions,” Dioum said.
Board Chairperson Sylvia Mulinge described the appointment as an important step in strengthening the company’s leadership structure.
“Phrase’s deep understanding of the business, extensive governance experience and proven leadership across the MTN footprint position him well to drive sustainable value for all stakeholders,” Mulinge said.
She also paid tribute to Sarah Bateta Okwi, who has been serving as Acting Managing Director, for providing stability and continuity during the transition period.
In his first remarks following the announcement, Lubega said he was honoured to take up the role at a time when digital financial services are playing an increasingly important role in Uganda’s economic transformation.
“It is an honour to lead MTN Mobile Money Uganda at such an exciting time in the evolution of digital financial services. I look forward to working with the team and our stakeholders to expand access to financial solutions, enhance customer experience and contribute to the growth of Uganda’s digital economy,” he said.
A Ugandan national, Lubega is no stranger to MTN Uganda. He previously served as General Manager for Mobile Financial Services, where he led the rollout of innovative products including MoKash and drove substantial revenue growth in a highly regulated and competitive environment.
He also served as Chief Information Officer at MTN Uganda, overseeing critical technology transformation initiatives that supported the growth and expansion of the company’s mobile money business.
Beyond executive management, Lubega has served on several boards within MTN’s Mobile Money operations across Africa, including in Benin, Congo Brazzaville, and Guinea Conakry, further strengthening his credentials in corporate governance and fintech leadership.
Academically, he holds a Master of Business Administration from York University in the United Kingdom, an Executive MBA from Quantic School of Business and Technology in the United States, and a Bachelor of Science in Physics from Makerere University.
His appointment comes as MTN Mobile Money Uganda continues to position itself as a leading player in Uganda’s digital financial services sector, with ambitions to expand access to financial products, drive innovation, and support economic empowerment for millions of Ugandans.
The company also acknowledged the contribution of Sarah Bateta Okwi, whose stewardship during the interim period helped maintain operational stability and sustained business momentum ahead of the leadership transition.
