Abidjan, Côte d’Ivoire — Uganda Development Bank’s Managing Director, Dr Patricia Ojangole, has been appointed Chairperson of the Association of African Development Finance Institutions (AADFI), becoming the first woman to lead the organisation in its 50-year history.
Her appointment was confirmed on May 26, 2025, during the 51st Ordinary General Assembly of AADFI, held at the Sofitel Hotel Ivoire in Abidjan, Côte d’Ivoire. The assembly also marked the association’s golden jubilee, celebrating five decades of promoting development finance across the continent.
Dr. Ojangole previously served as First Vice Chairperson of AADFI from 2019 to 2025. In a statement, AADFI praised her dedication to development finance and inclusive leadership:
“Her elevation to Chairperson marks a historic moment and reflects UDB’s commitment to excellence, inclusion, and transformative development across Africa.”
She succeeds Mr. Thabo P. Thamane, CEO of Botswana’s Citizen Entrepreneurial Development Agency (CEDA), who has chaired the AADFI Board since June 2019.
Vision for Transformative Leadership
In her acceptance speech, Dr. Ojangole expressed deep gratitude to the General Assembly for entrusting her with the role, and she challenged the over 91 member institutions to refocus efforts on measurable impact for African citizens.
“Are we creating good jobs in line with our population growth? Are we industrialising? Are we building local value chains and boosting exports? These are the questions we must face head-on,” she urged.
She pledged to champion innovation and bold thinking during her tenure, emphasising that true progress will only come when African development finance institutions (DFIs) break free from outdated governance models and embrace new, ambitious approaches.
“We cannot remain in our comfort zones. We must be willing to take risks, try new things, and lead transformative change across our economies,” she asserted.
Strengthening Africa’s DFIs
As Chairperson, Dr. Ojangole will lead the AADFI Board in steering the association’s agenda, which includes supervising the General Secretariat and guiding development policy for DFIs across Africa’s five regions. She will also represent the continent’s development finance voice on global platforms, including the World Federation of Development Financing Institutions and the Global Sustainable Finance Network, where AADFI holds memberships.
Formed in 1975 under the African Development Bank, AADFI plays a vital role in promoting cooperation, regional integration, and sustainable development financing across Africa.
About Dr. Patricia Ojangole
Dr. Ojangole is a seasoned banker and development finance expert with more than 20 years of experience in finance and banking. She holds a PhD and Master of Philosophy in Development Finance (cum laude) from the University of Stellenbosch Business School, South Africa.
She also holds an EMBA from ESAMI, a Bachelor of Commerce (Hons) from Makerere University, and is a Fellow of the Association of Chartered Certified Accountants (UK). She is also a member of the Institute of Certified Public Accountants of Uganda (ICPAU) and the Institute of Internal Auditors Uganda.
Since she was appointed Managing Director of the Uganda Development Bank (UDB) in 2013, she has overseen its transformation into a modern, efficient, and impact-driven institution. Under her leadership, UDB’s balance sheet grew from UGX 109 billion in 2013 to UGX 1.78 trillion in 2024, marking a tenfold increase and positioning the bank as a key driver of Uganda’s industrialisation and job creation.
She also serves on various boards, including the Uganda Bankers’ Association, Trademark Africa, Liberty Life Assurance Uganda, and the Council of Busitema University. With her appointment, Dr Ojangole is set to steer AADFI into a new era of inclusive, innovative, and impact-driven development finance for the African continent.
