Richard Yego, the outgoing MTN MoMo Managing Director
By Our Reporter
KAMPALA, UGANDA – MTN Mobile Money (U) Limited announced today that its Managing Director, Mr. Richard Yego, will step down from his role on February 28, 2026, after four years at the helm.
In a statement issued today, the company’s Board of Directors expressed appreciation for Yego’s service, leadership, and his contribution to the company’s growth and strategic direction during his tenure.
The Board has put in place interim management arrangements, with current Chief Finance Officer Sarah Bateta Okwi set to act as Managing Director from March 1, 2026.
Yego’s departure comes as the fintech segment he led continues to be a powerhouse for MTN Uganda. In November last year, MTN Uganda Ltd announced a second interim dividend of Shs 10.5 per share, a 40 percent increase from the previous payout.
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Richard Yego, the outgoing MTN MoMo Managing Director
By Our Reporter
KAMPALA, UGANDA – MTN Mobile Money (U) Limited announced today that its Managing Director, Mr. Richard Yego, will step down from his role on February 28, 2026, after four years at the helm.
In a statement issued today, the company’s Board of Directors expressed appreciation for Yego’s service, leadership, and his contribution to the company’s growth and strategic direction during his tenure.
The Board has put in place interim management arrangements, with current Chief Finance Officer Sarah Bateta Okwi set to act as Managing Director from March 1, 2026.
Yego’s departure comes as the fintech segment he led continues to be a powerhouse for MTN Uganda. In November last year, MTN Uganda Ltd announced a second interim dividend of Shs 10.5 per share, a 40 percent increase from the previous payout.
This decision followed strong third-quarter earnings, which were notably supported by a 17.9 percent rise in Fintech revenue to Shs 809 billion. This growth was driven by the expansion of MTN MoMo, which processed transactions worth Shs 140.8 trillion—a 23 percent increase from the previous year. The platform also reached 14.2 million active fintech users, demonstrating how digital financial services are deepening inclusion and transforming Uganda’s cashless economy.
The Board reiterated that MTN Mobile Money (U) Limited remains fully operational and committed to upholding strong corporate governance. The appointment of a substantive Managing Director will be communicated in due course, the statement reads in part.
