MTN Mobile Money Uganda has announced a major leadership transition, with Chief Finance Officer Sarah Bateta Okwi appointed Acting Managing Director and CEO, following the decision by Richard Yego to step down from his role.

According to official communication from the company, Yego will exit the position at the end of February 2026, concluding a four-year tenure that oversaw significant growth and transformation of the mobile money business. “The Board appreciates Richard Yego for his leadership and contribution to the growth of MTN Mobile Money Uganda,” the company said.

Sarah Bateta Okwi Takes the Helm

Sarah Bateta Okwi, who currently serves as Chief Finance Officer, will assume the role of Acting Managing Director effective 1 March 2026, as the company initiates the process of appointing a substantive CEO.

Okwi is a seasoned finance executive with nearly two decades of experience within the MTN Group, having held several senior leadership roles across the organization. As CFO, she has been instrumental in strengthening financial governance, regulatory compliance, and operational resilience within MTN Mobile Money Uganda.

Her appointment comes at a critical moment as MTN Mobile Money continues its transition into a fully independent fintech entity, separate from MTN Uganda’s core telecommunications business.

Richard Yego’s Tenure and Legacy

Richard Yego has led MTN Mobile Money Uganda for the past four years, a period marked by product expansion, digital financial inclusion, and regulatory alignment. Under his leadership, the company consolidated its position as one of Uganda’s leading digital financial services providers.

MTN said the business remains fully operational and stable during the transition period. “The Board assures customers, partners, and stakeholders that operations will continue as usual,” the statement noted.

What This Means for Uganda’s Fintech Sector

The leadership change underscores MTN Group’s broader strategy to strengthen fintech governance and leadership as mobile money services continue to play a central role in Uganda’s financial ecosystem.

Industry analysts view Okwi’s appointment as a move toward continuity and stability, given her deep institutional knowledge and financial expertise.

MTN Mobile Money Uganda said it will communicate further updates once a permanent Managing Director is appointed.