KAMPALA — Dr Fabian Kasi will leave Centenary Bank at the end of June after 16 years as Managing Director, bringing to a close one of the most transformative leadership tenures in Uganda’s banking sector.
Addressing journalists at Serena Hotel on Thursday, Dr Kasi reflected on his journey at Uganda’s largest indigenous commercial bank, thanked stakeholders for their support, and emphasised that the institution’s future would be defined not by a change in leadership but by the continuity of its vision.
“We are also here to celebrate succession. We want to assure the public that Centenary Bank is here to stay, even as we transition leadership,” Kasi said. “What is most important is not the change of leaders, but the continuation of the institution’s vision.”
The veteran banker said the media engagement was an opportunity to thank the Fourth Estate, customers, regulators, shareholders and partners who had contributed to the bank’s growth over the past 16 years.
“Today, the bank serves more than three million customers, a significant increase from the fewer than one million customers we served when I took on this responsibility 16 years ago,” he said.
Kasi, who is also the founding Chief Executive Officer of the CEO Summit Uganda and the League of East African Directors, said the bank’s achievements were the result of teamwork and strong institutional foundations.
“I would like to thank our stakeholders, especially our customers, who have trusted us and chosen to use our services,” he said. “What has been built over the years is a strong institution supported by a capable and dedicated team.”
Asked when he would officially hand over the office, Kasi revealed that his departure was imminent. “I will be leaving the bank in the next 12 days. Today is the 18th, so by the end of the month, a new leader will take over,” he said. “The successor will be unveiled officially in due course.”
Reflecting on the institution’s growth, he noted that Centenary Bank’s balance sheet had increased nearly ninefold during his tenure. “When I joined, the total balance sheet stood at slightly over Shs944 billion. As we speak today, the balance sheet is approximately UGX 9 trillion, and it continues to grow,” he said.
Biggest challenges
Kasi identified the migration to a new core banking system and the COVID-19 pandemic as the two most significant challenges of his career.
“The first was the migration to a new core banking system,” he said. “In banking, technology is at the heart of operations. When changing a core banking system, you cannot afford any disruptions because customers must be able to access their accounts at all times.”
He recalled spending days and nights with technical teams reviewing readiness before eventually executing a seamless transition. “Eventually, we made the switch successfully and served customers seamlessly without any major glitches. That remains one of the biggest challenges and achievements of my career,” he said.
The COVID-19 pandemic presented another unprecedented test. “During that period, we had two critical responsibilities: protecting our staff and ensuring customers continued to access banking services despite movement restrictions,” he said.
“We met twice daily—every morning and afternoon—to assess developments, review emerging risks, and determine what adjustments were needed.”
Although the bank lost three staff members during the pandemic, Kasi said the institution successfully maintained operations and safeguarded most employees. “When you are entrusted with leading such a large institution, the responsibility weighs heavily because ultimately the buck stops with you,” he added.
Institutional strength
Kasi also reflected on the period when the Bank of Uganda operated without a substantive governor, saying the experience demonstrated the importance of strong institutions.
“The Bank of Uganda is our regulator, and I previously worked there myself. I know firsthand that the institution has very robust systems,” he said. “Even without a substantive Governor, there was a Deputy Governor and established structures that ensured continuity. Those systems worked exactly as they were intended to.”
He said the experience reinforced his belief that succession planning is about building systems rather than relying on individuals. “Succession is not about one individual leaving. It is about building systems and institutions that can continue delivering results sustainably even when leadership changes,” he said.
On regulation and compliance
Addressing concerns about increasing regulatory requirements in the banking sector, Kasi defended strict oversight, arguing that public confidence depends on a stable and well-regulated financial system.
“Banking is one of the most heavily regulated industries in the world, and rightly so,” he said. “Banks safeguard public deposits and play a central role in the functioning of the economy. If the banking sector encounters serious problems, the entire economy is affected.”
He noted that Centenary Bank had successfully adapted to regulatory changes, including increases in minimum capital requirements and enhanced anti-money laundering obligations. “Compliance is not optional. It is fundamental to maintaining a safe and stable banking sector that protects public resources and supports economic growth,” he said.
As he prepares to exit the corner office, Kasi leaves behind a legacy that extends beyond banking. Widely regarded as one of Uganda’s leading corporate figures, he has served in several governance and leadership roles, including as President of the Uganda Institute of Banking and Financial Services, Chairman of the Uganda Broadcasting Corporation, and former Chairman of the Uganda Bankers Association.
