Patricia Ojangole, Managing Director of Uganda Development Bank (UDB), has been honoured as the 2025 Banker of the Year at the 19th edition of the African Banker Awards, held in Abidjan, Côte d’Ivoire.
This makes her the first Ugandan and only the second woman to receive the prestigious award, which recognises outstanding leadership and innovation in Africa’s banking sector.
The ceremony took place during the African Development Bank’s Annual Meetings at the Sofitel Hotel, gathering high-level government officials, financial executives, and development partners from across the continent.
Ojangole as the banker of the year award event
Organised by African Banker magazine, the annual awards celebrate excellence, impact, and transformation in African finance.
Patricia Ojangole was recognised for her visionary leadership and the remarkable transformation of Uganda Development Bank into a robust and impactful development finance institution.
Under her stewardship, UDB’s assets have grown dramatically from UGX 109 billion in 2013 to UGX 1.78 trillion in 2024, marking a tenfold increase.
She also oversaw a significant reduction in the bank’s non-performing loan portfolio, reinforcing UDB’s credibility in delivering sustainable financial solutions.
In her acceptance speech, Ojangole expressed gratitude and reaffirmed her commitment to fostering inclusive development through finance.
“This award is a foundation for me to advance Africa’s development agenda by leveraging tailored financial solutions that respond to the needs of Africans in a sustainable manner,” Ojangole said.
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“It is a testament of hard work, resilience, consistency, and commitment to serve the region,” she added.
Patricia Ojangole’s speech
The judging panel praised Ojangole for her role in empowering women, supporting small and medium enterprises (SMEs), and increasing financial access.
She stood out among other high-profile nominees, including Ecobank CEO Jeremy Awori, CRDB’s Abdulmajid Nsekela, and Afreximbank’s Sidi Ould Tah.
“I learnt that champions are not made on the podium. They are forged in the quiet, unseen moments in the discipline it takes when no one is watching,” Ojangole said.
“And as African women, we carry within us a powerful legacy: one of strength, of wisdom, and of vision. I am deeply proud of that.”
Uganda Development Bank was also recognised for its strong performance in managing Uganda’s Agricultural Credit Facility (ACF) and the Small Business Recovery Fund (SBRF).
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This earned commendations from the Bank of Uganda for its timely loan disbursements and support to value-added agriculture.
Patricia Ojangole, a seasoned finance professional with over 20 years of experience, holds a PhD and MPhil in Development Finance from the University of Stellenbosch Business School.
Additionally, she has served on several boards, including the Uganda Bankers Association and the Busitema University Council.
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