MTN Mobile Money (U) Limited has announced that its Managing Director, Mr Richard Yego, will step down from his role effective 28 February 2026, ending a four-year tenure at the helm of the fintech subsidiary.
In a statement issued on Sunday, the Board of Directors thanked Mr Yego for his leadership and service, crediting him with contributing to the company’s growth and shaping its strategic direction during a critical phase of expansion in Uganda’s digital financial services sector.
“To ensure continuity of operations, the Board has put in place interim management arrangements,” the statement reads. “With effect from 1 March 2026, the Chief Finance Officer, Ms Sarah Bateta Okwi, will act as the Managing Director.”
The Board added that the appointment of a substantive Managing Director will be communicated in due course, emphasising that MTN Mobile Money (U) Limited remains fully operational and committed to strong corporate governance and value creation for customers and stakeholders.
Ms Okwi brings extensive experience to the acting role. A seasoned finance executive with nearly two decades within the MTN Group, she takes over leadership at a pivotal moment as MTN Mobile Money prepares to operate as a more independent unit, separate from the core telecommunications business. Her appointment is widely seen as a move to ensure stability and financial discipline during this transition.
MTN Mobile Money (U) Limited reiterated its commitment to maintaining service excellence and regulatory compliance throughout the leadership change.
The Board expressed its sincere appreciation to Mr Yego for his contribution and leadership, and wished him well in his future endeavours.
The statement was issued by the Board of Directors of MTN Mobile Money (U) Limited on 2 February 2026.
