MTN Mobile Money (U) Limited has appointed Phrase Lubega as its new Managing Director, subject to approval by the Bank of Uganda, the company announced on 4th June 2026.
Lubega, a Ugandan national with over three decades of experience spanning telecommunications, information technology, and financial services, returns to Uganda after serving as Interim Managing Director of MoMo Payment Service Bank in Nigeria. In that role, he was responsible for shaping the bank’s long-term strategy and digital banking model, achieving strong revenue growth and successfully launching new products.
The appointment reinforces MTN Mobile Money’s commitment to accelerating financial inclusion and digital innovation across Uganda, according to a statement from the company’s Board of Directors.
Lubega is no stranger to MTN Uganda. He previously served as General Manager for Mobile Financial Services, where he successfully led the launch of innovative products such as MoKash and drove strong revenue growth in a competitive and regulated environment. He also served as Chief Information Officer of MTN Uganda, spearheading the transformation of IT systems that enabled the growth of mobile money services.
His career within the wider MTN Group includes senior leadership roles such as Group Executive for Fintech Commercial Operations and General Manager for Commercial and Go-To-Market. In those positions, he played a critical role in driving mobile financial services growth across the Group’s footprint, contributing to customer growth, improved retention, and expansion of mobile money operations across multiple countries.
Beyond his executive roles, Lubega has extensive governance experience, serving on multiple boards across MTN’s Mobile Money operations in Africa, including as a non-executive director in Benin, Congo Brazzaville, and Guinea Conakry.
Serigne Dioum, Group Chief Executive Officer of MTN Group Fintech, welcomed the appointment.
“We are delighted to appoint Phrase Lubega as Managing Director of MTN Mobile Money (U) Limited,” Dioum said. “Phrase 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 strengthen our position in Uganda and continue to expand access to inclusive, secure and innovative digital financial solutions that empower individuals and businesses.”
Sylvia Mulinge, Chairperson of the Board of Directors of MTN Mobile Money (U) Limited, also expressed confidence in the new appointee.
“On behalf of the Board, we are pleased to appoint Phrase Lubega to lead MTN Mobile Money Uganda into its next phase of growth,” Mulinge said. “His deep understanding of the business, strong governance experience and proven leadership across the MTN footprint position him well to drive sustainable value for all stakeholders.”
Commenting on his appointment, Lubega said he was honoured to lead the company at an exciting time in the evolution of digital financial services.
“I look forward to working with the talented team and our stakeholders to expand access to financial solutions, enhance customer experience, and continue driving the growth of Uganda’s digital economy,” he said.
Lubega holds a Master of Business Administration (MBA) from York University in the United Kingdom, an Executive MBA from the Quantic School of Business and Technology in the United States, and a Bachelor of Science in Physics from Makerere University.
The Board also extended sincere appreciation to Sarah Bateta Okwi, who served as Acting Managing Director over the past several months.
“Her dedication and commitment have ensured continuity, stability and sustained momentum for MTN Mobile Money Uganda during the transition period,” the statement read.
MTN Mobile Money is one of Uganda’s leading digital financial service providers, offering a range of services including person-to-person transfers, bill payments, savings, loans, and merchant payments. The appointment of a seasoned fintech executive like Lubega signals the company’s intent to deepen its product offerings and expand financial inclusion, particularly as competition in Uganda’s mobile money space intensifies.
The appointment remains subject to approval by the Bank of Uganda, the industry regulator. Once confirmed, Lubega will take over full leadership of the company’s operations in the country.
