A Trailblazer in Banking: Ms. Grace Muliisa
In the dynamic world of finance, Ms. Grace Muliisa stands out as a transformative leader who has reshaped the banking landscape in Uganda. With a career spanning over two decades, Grace has risen through the ranks, from a fresh university graduate to the first female head of consumer banking in Uganda. Her journey, marked by resilience, innovation, and a passion for community development, is a testament to her exceptional leadership and vision.
Early Beginnings and Career Growth
Grace’s professional journey began right after university when she joined one of Uganda’s top three banks. At a time when job opportunities were more accessible, she quickly made her mark. “I started with branch banking and customer service, which are the backbone of any service industry,” Grace recalls. Her early roles laid a solid foundation for her future success.
Over the years, she diversified her experience by taking on various roles, from sales and product development to segment management. By 2011, Grace had become the first female head of consumer banking in Uganda, a position she held for nearly six years before moving to the group headquarters in Singapore.
Driving Digital Transformation at Ecobank Uganda
Since its establishment in 2009, Ecobank Uganda has achieved remarkable growth under Grace’s leadership. The bank’s total assets have soared to UGX 760.1 billion, with significant increases in loans, advances, and customer deposits. A key driver of this success has been Ecobank’s commitment to digital innovation.
“Digital transformation is at the heart of our strategy,” says Grace. The launch of cutting-edge platforms such as the Ecobank Mobile App, Omni Plus for corporate customers, and Rapidtransfer for cross-border money transfers has revolutionized the banking experience for customers across Africa and Europe.
Strategic Measures for Economic Resilience
To navigate economic challenges, Ecobank implemented strategic measures, including a strong credit scoring and selection process, relationship management, and rapid adaptation to new technologies. The bank maintained its workforce with minimal impact on its bottom line, leveraging its strong information security infrastructure and regional presence to serve clients across Africa effectively.
Profitability Amid Economic Challenges
Despite high inflation and living costs, Uganda’s banking sector has remained profitable. Ecobank’s approach of optimizing costs and leveraging government support initiatives like the Small Business Recovery Fund has been pivotal. Investments in technology and improved risk management models have driven cost efficiency and revenue growth, contributing to a better cost-to-income ratio.
Customer-Centric Focus
Ecobank’s strategy centers on customer-centricity, digitization, and partnerships. The bank continuously enhances its digital platforms, offering unique features such as cardless withdrawals, business payment systems, and self-service mobile app functionalities. These innovations ensure a superior customer experience, enabling clients to transact seamlessly and securely.
Commitment to Affordable Credit
addressing the challenge of high interest rates, Ecobank offers tailored financial solutions and competitively priced loans. The bank actively seeks cheaper funding sources to provide customers with affordable financial options, supporting both individuals and businesses.
Positive Economic Outlook
looking ahead, Grace is optimistic about Uganda’s economic growth, driven by a return to business and increased government expenditure. Ecobank is well-positioned to support its clients in achieving their financial goals, contributing to the overall economic recovery and growth.
Impact Beyond banking
Beyond her professional achievements, Grace is deeply committed to community welfare. She advocates for the fight against malaria through initiatives like Malaria Free Uganda and supports the Keep A Girl Child in School (KAGIS) program. “No girl should drop out of school due to lack of menstrual hygiene materials,” Grace emphasizes. Her efforts aim to improve community health and ensure that every girl has access to education and menstrual hygiene materials.
Conclusion
Ms. Grace Muliisa’s story is one of dedication, innovation, and impact. Her leadership at Ecobank Uganda has not only transformed the bank but also contributed significantly to the broader community. As a true captain of industry, Grace continues to inspire and lead, driving positive change in the banking sector and beyond.
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