Centenary Group
The Centenary Group of Companies, commonly referred to as the Centenary Group, is a privately owned conglomerate in Uganda. The anchor company in the group is Centenary Bank, the second-largest commercial bank in Uganda, based on assets. As of 31 December 2021 Centenary Bank had assets valued at USh4.8 trillion (US$1.359 billion).[1][2]
| Type | Private Conglomerate |
|---|---|
| Industry | Financial services ICT services Social services |
| Founded | July 1, 2020 |
| Headquarters | Kampala, Uganda |
Key people | John Ddumba Ssentamu Group Chairman |
| Products | Banking, data processing and storage |
| Website | Homepage |
Overview
As of June 2022, Centenary Group is mainly involved in financial services, information and communications technology and the delivery of social services. The shareholders' equity in the group is reported to be USh789.52 billion (US$222.78 million), as of December 2021.[1]
History
Started in 1983 as Centenary Rural Development Trust (CRDT), Centenary bank started serving customers in that role in 1985. In 1993 the Bank of Uganda awarded a commercial banking license to CRDT, transforming it into Centenary Bank.[3]
In March 2019 the board of directors of Centenary Bank resolved to form a group structure. With consent of the Bank of Uganda (BoU), Centenary Group was established on 25 October 2019. On 6 November 2019, "the group formed a banking subsidiary named Centenary Rural Development Bank Limited". The BoU issued a commercial banking license to (CRDBL), on 16 March 2020, effective 1 July 2020. On that date Centenary Group transferred its banking business to CRDBL.[4]
Subsidiary companies
As of May 2023, the companies of the Centenary Group included the following:[5]
1. Centenary Bank Uganda Limited, a large commercial bank in Uganda.[2]
2. Centenary Technology Services Limited (Cente-Tech), an information and communications company. Responsible for the ICT functions within the group. In the process of developing a Level 3 data centre in the city of Masaka, Uganda.[6]
3. Centenary Foundation, a non-government non-profit organisation, charged with promoting and executing the group's social programs.[6]
4. Centenary Bank Malawi. A commercial bank in Malawi, majority owned by the Centenary Group of Uganda with minority shareholding by the Roman Catholic Archdiocese of Lilongwe.[7]
See also
References
- Javira Ssebwami (29 April 2022). "2021: Centenary Bank hits a record UGX4.8 trillion in assets and UGX211.5 billion net profit". PML Daily. Kampala, Uganda. Retrieved 3 June 2022.
- Amon Katungulu (2 June 2022). "Centenary Group gives Makerere University Shs 57 million for centenary celebrations". PML Daily. Kampala, Uganda. Retrieved 3 June 2022.
- Moses Talemwa (28 January 2009). "Savings trust that grew into people's bank". The Observer (Uganda). Kampala, Uganda. Retrieved 3 June 2022.
- "Centenary Group Integrated Annual Report For Year Ending 31 December 2020" (PDF). Centenary Group. Kampala, Uganda. 21 May 2021. Retrieved 3 June 2022.
- Centenary Group (3 June 2022). "Centenary Group: Member Companies". Centenary Group. Kampala, Uganda. Retrieved 3 June 2022.
- Nelson Mandela (4 February 2022). "Tier 3 Data Center to be built in Masaka". PML Daily. Kampala, Uganda. Retrieved 3 June 2022.
- Kenneth Kazibwe (11 March 2023). "Uganda's Centenary bank granted licence to extend wings to Malawi". Nile Post Uganda. Kampala, Uganda. Retrieved 24 March 2022.
