Veronicah Gladys Namagembe: The quiet force behind Pride Bank’s remarkable rise
As Pride Bank continues to expand its footprint and deepen its impact, Veronicah Gladys Namagembe remains a driving force behind its vision. Her unwavering commitment to financial inclusion, her strategic leadership, and her dedication to fostering a strong organizational culture will undoubtedly pave the way for further success.
In a landscape often dominated by loud announcements and bold personalities, Veronicah Gladys Namagembe has quietly emerged as one of Uganda’s most impactful financial sector leaders. Her name may not be splashed across billboards, but her work speaks volumes. Over the last eight years, she has steered Pride Microfinance from its modest roots into what is now Pride Bank Limited—a Tier II Credit Institution with national reach, powerful impact, and renewed ambition.
When Paul Musoke handed over the reins in 2017, Pride Microfinance was a respected, functional Tier III Microfinance Deposit-Taking Institution. Its total equity stood at just UGX 6 billion. But even then, the institution showed promise—serving clients at the grassroots and offering hope to those often left out of traditional banking.
Enter Veronicah Gladys Namagembe
With her calm demeanor, strategic thinking, and strong financial acumen, she rolled up her sleeves and got to work. Over the next few years, Namagembe led with a sharp focus on performance, governance, digital transformation, and inclusion. By 2020, just three years into her tenure, Pride’s equity had jumped to an impressive UGX 141.7 billion—more than 20 times where she began.
Fast forward to 2023, and the numbers told an even more compelling story. Total assets hit UGX 455.6 billion, while after-tax profit reached UGX 7.7 billion. It wasn’t just about growth—it was about resilience, innovation, and the ability to adapt in an increasingly competitive financial sector. Namagembe’s leadership had clearly redefined what was possible.
Yet, perhaps the most symbolic moment in her journey came on 29 April 2025, when Pride Microfinance rebranded to Pride Bank Limited. This wasn’t just a cosmetic change. It was the culmination of years of strategic groundwork and regulatory compliance, officially upgrading the institution from a Tier III MDI to a Tier II Credit Institution, following Bank of Uganda’s approval in November 2024. The launch brought a new logo, a bolder brand, and an expanded promise: to offer more robust banking services to more Ugandans, especially the underserved.
But numbers and milestones alone do not tell the full story of Namagembe. Her legacy is also one of empowerment. Under her watch, Pride has invested heavily in corporate social responsibility—dedicating 1% of its after-tax profits, around UGX 126 million annually, to causes ranging from health and education to environmental conservation.
She has also championed youth development. One of her most notable initiatives is the youth skilling programme that aims to train over 1,000 young people in business and financial literacy. In partnership with organisations like the European Investment Bank, this programme empowers youth to become job creators and financially independent.
Inside the institution, she has nurtured a culture of mentorship and leadership development, helping to shape the next generation of Ugandan banking professionals. Her strategic decisions have not only boosted the institution’s financial performance but have also built a more inclusive and purpose-driven bank.
So, who is Veronicah Gladys Namagembe?
She is the steady hand that turned Pride Microfinance into Pride Bank. She is the strategist who believes in numbers but never forgets people. She is the trailblazer who has not only grown an institution but reshaped Uganda’s financial inclusion story. And as Pride Bank embarks on its next chapter, her legacy will be felt in every account opened, every youth trained, and every dream financed.
