ABIDJAN, Côte d’Ivoire (May 28, 2025) — Dr. Patricia Ojangole, Managing Director of Uganda Development Bank (UDB), has been appointed Chairperson of the Association of African Development Finance Institutions (AADFI), the umbrella organization for development finance institutions across Africa.

Dr. Ojangole’s appointment was announced during AADFI’s 51st Ordinary General Assembly and 50th-anniversary celebration on May 26 in Abidjan. She is the first woman to hold the esteemed position since the association’s inception in 1975, having previously served as AADFI’s first Vice Chairperson from 2019 to 2025.

“Her leadership reflects UDB’s commitment to excellence, inclusion, and transformative development across Africa,” an AADFI citation stated.

Dr. Ojangole succeeds Thabo P. Thamane, CEO of Botswana’s Citizen Entrepreneurial Development Agency (CEDA), who chaired the AADFI Board since June 2019.

In her acceptance speech, Dr. Ojangole expressed honor and gratitude for the confidence placed in her. She challenged AADFI’s more than 91 member institutions to reflect on their impact, questioning whether they are creating sufficient jobs, industrializing economies, boosting exports, substituting imports, and building local value chains.

“These are the issues that motivated me to accept the position,” she said, adding that her tenure will focus on “creating thriving, prosperous and advanced economies across Africa through strong national DFIs.” She emphasized the need to “do new things, accepting big challenges and come out of our comfort zone.”

The AADFI Board oversees the association’s activities and the General Secretariat. Established under the auspices of the African Development Bank, AADFI aims to foster cooperation for sustainable development and economic integration in Africa. It is also a founding member of the World Federation of Development Financing Institutions.

Dr. Ojangole, a professional accountant with over 20 years of experience in banking and finance, holds a doctorate in Development Finance from the University of Stellenbosch Business School. Under her leadership, UDB’s balance sheet has grown significantly, from 109 billion Ugandan shillings in 2013 to 1.78 trillion shillings in 2024.