MTN Mobile Money (U) Limited has a new Managing Director. The Board of Directors today announced the appointment of Phrase Lubega to lead the company, with the role still subject to regulatory approval by the Bank of Uganda.
The appointment is a homecoming of sorts. Lubega is a Ugandan national who built much of his career inside MTN Uganda before rising through the Group’s broader fintech structure across Africa.
Who is Phrase Lubega?
Lubega comes to the role with over three decades of experience across telecommunications, information technology, and financial services. Most recently, he served as Interim Managing Director of MoMo Payment Service Bank in Nigeria, where he was responsible for shaping and executing the bank’s long-term strategy and digital banking model, achieving strong revenue growth and successfully launching new products.
His MTN Group career includes stints as Group Executive for Fintech Commercial Operations and General Manager for Commercial and Go-To-Market, where he played a central role in driving Mobile Financial Services growth across multiple countries.
Closer to home, he previously served as General Manager for Mobile Financial Services at MTN Uganda, where he led the launch of 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 and enabling the growth of mobile money services.
On governance, Lubega has served as a non-executive director across MTN Mobile Money operations in Benin, Congo Brazzaville, and Guinea Conakry.
He holds an MBA from York University in the UK, an Executive MBA from Quantic School of Business and Technology in the USA, and a Bachelor of Science in Physics from Makerere University.
What the leadership is saying
MTN Group Fintech CEO Serigne Dioum called Lubega a strong fit for the moment: “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.”
Board Chairperson Sylvia Mulinge echoed that confidence while also taking a moment to acknowledge the outgoing interim lead: “We extend our sincere appreciation to Sarah Bateta Okwi for her steady leadership during the interim period.”
Lubega himself kept it grounded: “It is an honour to lead MTN Mobile Money Uganda at such an exciting time in the evolution of digital financial services. I look forward to working with the talented team to expand access to financial solutions and continue driving the growth of Uganda’s digital economy.”
The bigger picture
MTN MoMo is the dominant mobile money platform in Uganda, operating in a market where mobile financial services remain the primary banking channel for millions. Bringing in a leader with Lubega’s combination of local market history and Group-level fintech experience signals that MTN is positioning MoMo Uganda for its next phase of growth, not just steady management.
The appointment is pending Bank of Uganda sign-off, after which Lubega will officially take the reins.
