Richard Byarugaba
Richard Patrick Byarugaba | |
|---|---|
| Born | 1961 Western Region, Uganda |
| Occupation(s) | Business executive, banker, entrepreneur |
| Years active | 1983–present |
| Known for | Managing director and CEO of National Social Security Fund (Uganda) |
Richard Patrick Byarugaba is a prominent Ugandan business executive, banker, and entrepreneur. He held the position of managing director and chief executive officer at the National Social Security Fund (Uganda), a semi-independent pension institution serving non-government employees, from November 2017 until November 2022. In 2012, he was recognized as one of the wealthiest individuals in Uganda.
Background and education
Byarugaba was born in 1961 in Uganda's Western Region. He earned a degree in statistics and economics from Makerere University. Additionally, he is an accredited accountant through the Association of Chartered Certified Accountants (UK) and possesses a management diploma from Henley Management College in the United Kingdom.
Work experience
His professional journey has been largely centered within Uganda’s banking industry. Beginning his career in 1983 as a banking officer at Standard Chartered Uganda (Stanchart), Byarugaba advanced to become executive director responsible for finance by 1992. In 1994, he relocated to Stanchart’s London office, taking on the role of regional finance manager for Africa. After returning to Uganda in 1997, he joined Nile Bank Limited, where he was promoted to managing director in 2003. When British firm Barclays acquired Nile Bank for US $27 million (UGX:52 billion) in 2007, it merged into Barclays Bank (Uganda), with Byarugaba appointed as chief operating officer.
In 2008, he assumed the role of managing director at the newly founded Global Trust Bank (Uganda), a position he held until 2010. Subsequently, he was named managing director and CEO of the National Social Security Fund (Uganda).
Beyond his banking career, Byarugaba has been actively involved with organizations such as Hospice Africa, the Palliative Care Association of Uganda, and the Uganda Institute of Banking and Financial Services. At the time of his departure from Global Trust Bank, he served as treasurer for the Uganda Bankers Association.