Dr. Patricia Ojangole has been serving as Managing Director of the Uganda Development Bank (UDB) since 2013.
Under her strategic leadership, UDB’s balance sheet has grown tenfold from UGX 109 billion in 2013 to UGX 1.78 trillion in 2024. It has earned national and international recognition for driving Uganda’s industrialization, growing the economy through impactful financial and non-financial interventions, creating jobs and accelerating socio-economic development while ensuing inclusiveness and environmental protection.
Dr. Ojangole has led efforts to ensure that the UDB remains adequately resourced to advance the Bank’s mandate of improving the quality of life of Ugandans. Under her stewardship, UDB’s role has evolved as one of the key institutions to implement the 4th National Development Plan (NDP IV). The bank is focused today in advancing the country’s 10-fold growth strategy with a focus on; Transformative Delivery Models, Driving Industrialization, Boosting Agriculture Productivity, Expanding the Services Sector, Green Finance Leadership, Building Local Expertise, Reaching the Underserved and Driving Digital Leadership.
She is credited with explicitly rebuilding stakeholder confidence in the Bank, which has helped build public confidence and made it a preferred choice for long-term and affordable capital for investment projects in the country.
Before joining UDB, initially as a Chief Audit Executive, Patricia was a Senior Manager of Internal Audit at Standard Bank Group, the largest private commercial Bank in the Country, a position she held for 10 years, often leading strategic audit activities in more than 10 African Countries that hosted Standard Bank’s subsidiaries. Her professional Internal Audit experience has given her an appreciation for internal controls, Risk Management, and Governance practices, which have helped her ensure that these are appreciated at all levels within UDB.
Dr. Ojangole holds a PhD in Development Finance from the University of Stellenbosch Business School in South Africa. Her doctoral research, “Structural Transformation, Private Sector Credit, and Growth: Implications for Employment and Inclusive Growth in Uganda,” offers timely and critical insights for Uganda’s development trajectory. She also holds a Master of Philosophy in Development Finance (cum laude) from the same institution, an Executive MBA from the Eastern and Southern Africa Management Institute (ESAMI) in Tanzania, and a Bachelor of Commerce (Hons) from Makerere University, Uganda. She has completed several advanced leadership and executive management programs.
She is a Fellow of the Association of Chartered Certified Accountants (UK), and a member of the Institute of Certified Public Accountants of Uganda (ICPAU) and the Institute of Internal Auditors Uganda (IIA).
In 2025, Dr. Ojangole was appointed Chairperson of the Association of African Development Finance Institutions (AADFI), becoming the first woman to hold the position since the Association’s inception. She had previously served with distinction as 1st Vice Chairperson of AADFI from 2019 to 2025, contributing significantly to shaping development finance policy across Africa.
In the same year, she was named Banker of the Year 2025 at the African Banker Awards, a prestigious recognition of her visionary leadership, strategic execution, and outstanding contribution to banking excellence on the continent.
Other recognitions that attest to her indelible leadership include winning “Sustainability Leader of the Year” at the Annual Karlsruhe Sustainable Finance Awards for four consecutive years (2021–2024). This highly coveted international accolade honours Dr. Ojangole for demonstrating exceptional leadership in driving sustainability within UDB and making impact beyond her country. The Award recognizes her efforts to challenge the status quo and her determination to win against all odds for true social, economic and environmental sustainability.
Dr. Ojangole serves on the Boards of key institutions, including the Uganda Development Bank Ltd., the Uganda Bankers’ Association, Trademark Africa, Liberty Life Assurance Uganda Ltd., and the Council of Busitema University. She is also a Board member of the Association of Development Finance Institutions in the Member Countries of the Islamic Development Bank (ADFIMI). Her previous Board roles include the New Vision Group, Msingi East Africa, and the European Union supported START Facility Management Board. She also served on the Advisory Board of IFAD’s 2025 Rural Development Report.
With a remarkable track record of institutional transformation, global recognition, and visionary leadership, Dr. Patricia Ojangole continues to shape the future of sustainable development finance in Uganda and across the African continent.