Introduction: From Microfinance Trust to Uganda’s Banking Leader

Centenary Bank began in 1983 as the Centenary Rural Development Trust (CRDT)—a microfinance entity rooted in the Catholic Church’s vision for financial inclusion and community upliftment. Earning its commercial banking license in 1993, it steadily expanded its mission to serve underserved rural populations, smallholders, and informal sector entrepreneurs WikipediaNilepost News.

1. Mission-Driven Growth & Financial Inclusion

Centenary’s leadership has always prioritized accessibility:

• It now serves over 2.5 million customers, capturing nearly 25% of Uganda’s banking customers Nilepost News.
• By 2024, its assets reached UGX 7.11 trillion, with loan advances at UGX 3.72 trillion and deposits at UGX 4.21 trillion Kampala Townceo.co.ug.
• The mission-critical portfolio—which includes agriculture, microfinance, and SMEs—grew significantly:
  • Agricultural loans rose 18.4% to UGX 448.8 billion.
  • Microfinance loans surged 24.8% to UGX 539.3 billion.
  • SME lending expanded as well—reflecting inclusive growth Kampala Townceo.co.ug.

2. Digital Innovation & Operational Efficiency

Centenary has distinguished itself with customer-centric digital transformation:

• Launched CenteWhatsApp Banking (2024): Enables customers to transact via WhatsApp—checking balances, transferring funds, paying bills, or even accessing mobile loans up to UGX 5 million Centenary Bank.
• Implemented the Oracle Flexcube core banking system through Profinch Solutions in 2024, bringing modern operating platforms for stability and scalability profinch.comThe Voice Uganda.
• Prior innovations include:
  • CenteMobile with CenteOnTheGo, offering self-service account opening, mobile banking, and agent transactions pmldaily.com.
  • Partnerships with Mastercard and WorldRemit for digital payments and remittances Wikipedia.

This tech-led approach supports strong service delivery, especially where branches are limited.

3. Reaching the Nigerian Heartbeat: Agents & Digital Users

• Agent banking accounts for 51% of transactions, highlighting rural outreach success Kampala Townceo.co.ug.
• Digital adoption soared in 2024:
  • CenteMobile users grew 14%
  • Internet banking users up 30.3%
  • Agent numbers rose 5.3%—reinforcing digital reach Kampala Townceo.co.ug.

4. ESG, Community Development & Recognition

True to its roots, Centenary continues integrating ESG into its operations:

• Piloted carbon emissions tracking and environmental risk assessments.
• Planted over 41,000 trees in 2024, bringing the total to more than 70,000 through community reforestation drives Kampala Town.
• Extended banking access to:
  • Over 1 million youth
  • 1.4 million women
  • 7,509 refugees Kampala Town.
• Supported community initiatives with UGX 2.9 billion across 733 projects Kampala Town.
• Named Best Bank in Uganda, AFAWA Bank of the Year, and Most Admired Financial Services Brand in 2024. Also received Digital Impact Awards Africa for innovation and brand excellence Kampala TownCentenary Bank.
• Hosted the 2025 Global Alliance for Banking on Values in Kampala—solidifying leadership in values-based banking Kampala Town.

5. Strategic Partnerships Fueling Impact

Centenary’s success is amplified through strategic collaborations:

• Partnered with EIB Global to unlock €100 million in financing, mainly for microenterprises—focused on rural regions and women-led businesses European Investment BankCentenary Bank.
• With African Guarantee Fund (AGF), secured a USD 25 million loan guarantee, unlocking USD 200 million in SME loans—benefiting women-led and green enterprises African Guarantee Fund – English.

These partnerships extend Centenary’s developmental access and financial inclusion mandate into underserved markets.

6. Financial Resilience & Performance

Centenary’s financials reflect strong momentum:

• 2021: Assets rose to UGX 4.8 trillion with net profit of UGX 211.5 billion—a record for the period pmldaily.com.
• 2024: Net profit jumped 15.2% to UGX 342.3 billion. Operating income increased 8.5%, driven by loan interest, securities gains, and forex earnings. NPL ratio improved from 2.8% to 2.6% Kampala Townceo.co.ug.

7. Leadership & Institutional Strength

Guided by a capable executive team, including MD Fabian Kasi and Chair John Ddumba Ssentamu, Centenary has balanced mission with market success:

• Kasi built on a strong vision of financial inclusion and modern banking practices Wikipedia.
• Ddumba provided governance quality, strategic oversight, and academic rigour Wikipedia.

Their combined leadership has steered Centenary into sustainable growth and deep community impact.

Key Success Drivers in Summary

Domain	Elements Driving Success
Mission & Inclusion	Microfinance roots, rural branches, youth/women outreach
Digital Innovation	WhatsApp banking, Flexcube core system, mobile & agent banking
Partnerships	EIB, AGF guarantee programs, Mastercard, WorldRemit
ESG & CSR	Tree planting, financial literacy, community projects
Financial Performance	Asset and profit growth, low NPLs, diversified income streams
Leadership	Visionary stewardship by Kasi & Ddumba

Conclusion: Centenary’s Formula for Success

Centenary Bank’s journey from a rural credit trust to a nationwide banking leader is grounded in innovation, inclusion, and financial prudence. Its success is built upon:

• A relentless focus on underserved demographics
• Deep investments in digital infrastructure
• Strategic alliances that expand access and values
• Strong financial governance fostering sustainability

As Centenary moves into 2025, it’s well-positioned to deepen its impact, grow inclusively, and lead with purpose in Uganda’s financial landscape.