Richard Byarugaba
Encyclopedia
Richard Byarugaba is a Uganda
n business executive, banker and entrepreneur
. He is the Managing Director and Chief Executive Officer
of National Social Security Fund (Uganda)
, a semi-autonomous retirement pension organisation for non-government employees in Uganda. He is also listed as one of the wealthiest individuals in Uganda.
, Uganda's oldest institution of tertiary education, graduating with a degree in Statistics
and Economics
. He is a qualified accountant
with the Association of Chartered Certified Accountants
in the United Kingdom
(UK). He also holds a diploma in management, from Henley Management College, also in the UK.
's banking sector. Byarugaba started as a banking officer, at Standard Chartered Bank (Uganda)
(Stanchart), in 1983. By 1992, he had risen to Executive Director for Finance
at Stanchart. In 1994, he was transferred to Standard Chartered Bank
's International Headquarters in London
, United Kingdom
, as the Regional Manager for Finance, responsible for Africa
.
He returned to Uganda in 1997. He joined Nile Bank Limited
, a private retail bank, established in 1988. Nile Bank was registered in Uganda, with shareholders from Uganda
, Israel
, and South Africa
. Richard Byarugaba became Managing Director of Nile Bank in 2003. In 2007, Barclays, the British
financial conglomerate, bought 100% shareholding in Nile Bank Limited for US$27 million. The new owners merged Nile Bank with their existing banking interests in the country to form the existing Barclays Bank (Uganda)
. Byarugaba moved to Baclays Bank (Uganda), as the Chief Operating Officer
.
In 2008, when Global Trust Bank
was established, the new owners appointed Richard Byarugaba as Managing Director of the newly created bank. He held that position until 2010 when he left to take up appointment as the Managing Director and Chief Executive Officer
of National Social Security Fund (Uganda)
.
Byarugaba has also worked with Hospice Africa, Palliative Care Association of Uganda and the Uganda Institute of Banking and Financial Services. At the time of his resignation from Global Trust Bank
, he was the Treasurer of Uganda Bankers Association.
, watching and playing soccer.
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
n business executive, banker and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. He is the Managing Director and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of National Social Security Fund (Uganda)
National Social Security Fund (Uganda)
The National Social Security Fund is a semi-government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds from employees of the private sector in Uganda, who are not covered by the Government Retirement Scheme...
, a semi-autonomous retirement pension organisation for non-government employees in Uganda. He is also listed as one of the wealthiest individuals in Uganda.
Education
Byarugaba attended Makerere UniversityMakerere University
Makerere University , Uganda's largest and second-oldest higher institution of learning, , was first established as a technical school in 1922. In 1963 it became the University of East Africa, offering courses leading to general degrees from the University of London...
, Uganda's oldest institution of tertiary education, graduating with a degree in Statistics
Statistics
Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....
and Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. He is a qualified accountant
Accountant
An accountant is a practitioner of accountancy or accounting , which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.The Big Four auditors are the largest...
with the Association of Chartered Certified Accountants
Association of Chartered Certified Accountants
Founded in 1904, the Association of Chartered Certified Accountants is the global body for professional accountants offering the Chartered Certified Accountant qualification . it is one of the largest and fastest-growing global accountancy bodies with 147,000 members and 424,000 students in 170...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
(UK). He also holds a diploma in management, from Henley Management College, also in the UK.
Work experience
He has held various positions over the years; the majority of them in UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
's banking sector. Byarugaba started as a banking officer, at Standard Chartered Bank (Uganda)
Standard Chartered Bank (Uganda)
Standard Chartered Bank Limited, commonly known as Stanchart Uganda, is a commercial bank in Uganda. It is one of the banks licensed by the Bank of Uganda, the national banking regulator.-Overview:...
(Stanchart), in 1983. By 1992, he had risen to Executive Director for Finance
Executive director
Executive director is a term sometimes applied to the chief executive officer or managing director of an organization, company, or corporation. It is widely used in North American non-profit organizations, though in recent decades many U.S. nonprofits have adopted the title "President/CEO"...
at Stanchart. In 1994, he was transferred to Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
's International Headquarters in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, as the Regional Manager for Finance, responsible for Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
.
He returned to Uganda in 1997. He joined Nile Bank Limited
Nile Bank Limited
Nile Bank Ltd was a private bank, registered in Uganda, with shareholders from Uganda, Israel, and South Africa. Nile Bank has an emphasis on consumer banking.-History:...
, a private retail bank, established in 1988. Nile Bank was registered in Uganda, with shareholders from Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
, Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
, and South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
. Richard Byarugaba became Managing Director of Nile Bank in 2003. In 2007, Barclays, the British
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
financial conglomerate, bought 100% shareholding in Nile Bank Limited for US$27 million. The new owners merged Nile Bank with their existing banking interests in the country to form the existing Barclays Bank (Uganda)
Barclays Bank (Uganda)
Barclays Bank Limited, commonly known as Barclays Bank , is a commercial bank in Uganda. It is one of the twenty-three commercial banks licensed by Bank of Uganda, the national banking regulator.-Overview:...
. Byarugaba moved to Baclays Bank (Uganda), as the Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
.
In 2008, when Global Trust Bank
Global Trust Bank
Global Trust Bank is a commercial bank in Uganda which started operations in 2008. Its headquarters are located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala.-Ownership:...
was established, the new owners appointed Richard Byarugaba as Managing Director of the newly created bank. He held that position until 2010 when he left to take up appointment as the Managing Director and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of National Social Security Fund (Uganda)
National Social Security Fund (Uganda)
The National Social Security Fund is a semi-government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds from employees of the private sector in Uganda, who are not covered by the Government Retirement Scheme...
.
Byarugaba has also worked with Hospice Africa, Palliative Care Association of Uganda and the Uganda Institute of Banking and Financial Services. At the time of his resignation from Global Trust Bank
Global Trust Bank
Global Trust Bank is a commercial bank in Uganda which started operations in 2008. Its headquarters are located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala.-Ownership:...
, he was the Treasurer of Uganda Bankers Association.
Personal information
Richard Byarugaba is married with children. He enjoys joggingJogging
Jogging is a form of trotting or running at a slow or leisurely pace. The main intention is to increase fitness with less stress on the body than from faster running.-Definition:...
, watching and playing soccer.
See also
- Standard Chartered Bank (Uganda)Standard Chartered Bank (Uganda)Standard Chartered Bank Limited, commonly known as Stanchart Uganda, is a commercial bank in Uganda. It is one of the banks licensed by the Bank of Uganda, the national banking regulator.-Overview:...
- Nile Bank LimitedNile Bank LimitedNile Bank Ltd was a private bank, registered in Uganda, with shareholders from Uganda, Israel, and South Africa. Nile Bank has an emphasis on consumer banking.-History:...
- Barclays Bank (Uganda)Barclays Bank (Uganda)Barclays Bank Limited, commonly known as Barclays Bank , is a commercial bank in Uganda. It is one of the twenty-three commercial banks licensed by Bank of Uganda, the national banking regulator.-Overview:...
- Global Trust BankGlobal Trust BankGlobal Trust Bank is a commercial bank in Uganda which started operations in 2008. Its headquarters are located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala.-Ownership:...
- National Social Security Fund (Uganda)National Social Security Fund (Uganda)The National Social Security Fund is a semi-government agency responsible for the collection, safekeeping, responsible investment and distribution of retirement funds from employees of the private sector in Uganda, who are not covered by the Government Retirement Scheme...
- List of wealthiest people in Uganda