MTN Mobile Money (U) Limited has appointed Sarah Bateta Okwi as its Acting Managing Director following the resignation of Richard Yego, who has led the company for the past four years.In a statement issued on Monday, the MTN Mobile Money board said Yego will officially step down from the role on February 28, 2026, bringing to an end a tenure that began in January 2022.
The board praised Yego for his contribution to the company’s growth and strategic direction, saying interim management arrangements have been put in place to ensure continuity of operations.After four years of leading MTN Mobile Money (U) Limited, Mr Richard Yego will step down as the Managing Director effective 28th February 2026,” the statement read.
“The Board expresses its sincere appreciation to Mr. Yego for his contribution and leadership and wishes him well in his future endeavors.”Okwi, who currently serves as Chief Finance Officer of MTN Mobile Money Uganda Limited, will assume the acting role effective March 1, 2026, as the company searches for a substantive Managing Director.A seasoned finance executive with nearly two decades of experience within the MTN Group, Okwi takes over at a critical moment as MTN Mobile Money prepares to operate as a fully independent entity, separate from the core MTN Uganda telecommunications business.
During her tenure as CFO, Okwi has overseen the company’s finance division with a focus on strengthening financial controls, governance, and regulatory compliance.She has played a central role in strategic financial planning and risk management, key pillars as the mobile money business expands its footprint and navigates a complex regulatory environment.
“Our team’s dedication to maintaining strong financial controls and precise reporting is a testament to our collective expertise,” Okwi said in a previous statement outlining her leadership philosophy.“With a solid footing in accounting, we meet all statutory and corporate obligations, ensuring the organization’s financial integrity and supporting its growth trajectory.”The MTN Mobile Money board said the company remains fully operational and committed to strong corporate governance and value creation for customers and stakeholders during the transition period.
“The appointment of a substantive Managing Director will be communicated in due course,” the board added.MTN Mobile Money Uganda is one of the country’s largest fintech platforms, handling millions of transactions daily and playing a central role in digital payments, financial inclusion, and merchant services across the country.