Former Stanbic Bank Uganda chief executive Anne Juuko has officially taken charge of the East African Development Bank (EADB), inheriting a regional institution seeking to expand long-term financing while implementing governance reforms approved by its shareholders.
Juuko assumed office on October 2, replacing Benard Mono, who had been serving as acting director general during the transition.
Her appointment comes at a time when EADB is seeking to build on improved financial performance and increase its contribution to development financing across East Africa, with the bank’s Governing Council pointing to what it describes as considerable untapped potential.
The bank recorded a 51 per cent increase in profit before tax in 2025, while loan disbursements rose by 140 per cent. EADB also maintained investment-grade credit ratings of A from S&P Global and Baa3 from Moody’s, both carrying stable outlooks.
At the same time, the bank’s Governing Council has approved reforms intended to strengthen governance and improve the institution’s performance, although the specific reforms were not detailed in the announcement.
Yusuf Murangwa, Rwanda’s Minister of Finance and Economic Planning and chairperson of the EADB Governing Council, said strong governance would be central to the bank’s next phase.
“Strong governance is the foundation of a credible development bank. The resolutions adopted today will help the Bank to build on the solid foundation already established to deliver better results to our Member States and the region,” Murangwa said.
Juuko brings more than two decades of experience in banking, financial markets and executive leadership to the regional development lender.
Before joining EADB, she served as Regional Head of Global Markets for Eastern Africa at Standard Bank Group. She previously served as managing director and chief executive officer of Stanbic Bank Uganda and held senior positions at Standard Bank Namibia and Citibank in Kenya and Uganda.
Her background in commercial banking and capital markets is expected to influence her approach as EADB seeks to mobilise additional long-term capital for infrastructure, businesses and other development projects whose returns often take years to materialise.
Speaking after taking office, Juuko said expanding EADB’s development finance role and finding new sources of capital would be among her immediate priorities.
“My priority will be to deepen the Bank’s development finance role, unlock new sources of long-term capital, and cultivate strategic partnerships that expand our reach and deliver lasting socio-economic impact across the region,” Juuko said.
The new director general takes charge of a bank jointly owned by Kenya, Uganda, Tanzania and Rwanda, alongside other development and commercial financial institutions.
Established in 1967 under the treaty that created the then East African Cooperation, EADB was later re-established under a new charter in 1980 following changes to the regional cooperation framework.
The institution’s mandate is to provide development finance and related assistance to enterprises and projects that contribute to socio-economic development and regional integration.
As an institution of the East African Community, EADB also provides a regional platform for supporting investment and economic integration among member states.
Murangwa said Juuko was assuming leadership at an important stage in the bank’s development and was expected to build on the foundation established by previous management.
“Ms Juuko joins EADB at a pivotal moment, inheriting a strong foundation from which to accelerate the Bank’s transformation, unlock its considerable untapped potential, and deepen its impact across the region,” Murangwa said.
He added that the Governing Council expected the bank under Juuko’s leadership to increase its support to member states and play a greater role in regional economic growth, integration and sustainable development.
The handover also marked the end of the interim leadership period under Mono, the bank’s senior director for finance and treasury, who had overseen the institution during the transition.
The Governing Council credited Mono with maintaining continuity and stability during the interim period.
During the official handover, Murangwa presented Juuko with her contract in the presence of Uganda’s Minister of State for Finance, Planning and Economic Development Henry Musasizi and EADB Board chairperson Ramathan Ggoobi.
Mono subsequently handed over the instruments of office to Juuko.
Juuko said she would build on the work of the previous management and staff while working with the Governing Council and other stakeholders to increase the bank’s impact across the region.
“It is a privilege to join an institution that has been in existence for almost sixty years, and I am excited to work with stakeholders across the region to build on that foundation and deliver even greater impact for future generations,”Juuko said.
