As part of the restructuring of First National Bank of Namibia’s (FNB) management committee, following the departure of its former Managing Director, Erwin Tjipuka, FNB, Namibia’s largest and most successful commercial bank, announced on 26 January that Nangula Kauluma has been appointed CEO of FNB Retail Banking, while Sepo Haihambo has been appointed CEO of FNB Commercial Banking. Mary Mulili is the new Managing Director and CEO of United Bank for Africa (UBA) Kenya, a subsidiary of the pan-African bank UBA Africa, owned by the famous Nigerian businessman Tony Elumelu.
First woman to head UBA Kenya
Mary Mulili has been appointed Managing Director and CEO of UBA Kenya, effective 19 January 2024, subject to regulatory approval. She is the first woman to hold this position in the Kenyan subsidiary of this pan-African bank, which has been operating in the Kenyan financial landscape for 15 years.
Mary Mulili has over 20 years’ experience in the banking sector. She has worked in corporate banking, commercial banking, institutional banking, public sector banking, retail banking and digital banking.
Mary Mulili has expertise in relationship management, portfolio monitoring, credit analysis, sales co-ordination, marketing and communication, branch network management, retail and SME banking management, product development, institutional banking and management as well as structured trade and project finance and transaction banking.
Prior to her promotion to CEO, Mary Mulili was the Executive Director of Business Development at UBA Kenya where she managed the UBA Kenya business unit strategies for UBA’s growth in the areas of Corporate Banking, Commercial Banking, SME/Retail and Transaction Banking. She also oversaw UBA’s operations in East Africa.
Innovative initiatives
Previously, Mary Mulili was head of corporate and commercial banking for GTBank and ABC in Kenya, where she introduced new initiatives to boost the bank’s business and launched a partnership with credit unions in the national payments system. This initiative has increased the bank’s transactional income and current account balances. Mary Mulili also set up GT Bank Kenya’s first cash management and transaction banking unit.
When she was head of corporate relations at Kenya Commercial Bank (KCB), Mary Mulili worked with McKinsey to design tools to improve team productivity.
A founding member of the Rotary Club of Lavington, a residential area of Nairobi, Mary Mulili is also a board member of Twana Twitu, an NGO that cares for HIV orphans, and a mentor at WECREAT, a community entrepreneurship centre for women start-ups and existing businesses.
A member of several other organisations, including the Kenya Chamber of Commerce (Women In Business), Mary Mulili holds a BA in Accounting and Economics and an MBA, both from the University of Nairobi. She has also taken several courses in business management, leadership and governance, notably at Leiden University in the Netherlands.
Namibian businesswoman in 2017 and 2019
Naungula Kauluma, the new CEO of FNB Retail Banking, is a financial services expert with extensive experience in banking, life insurance and short-term insurance, gained in various positions in Africa. Since June 2019, she has been Head of Retail Banking at FNB. She joined the bank in 2018 as director of premium banking, before also holding the position of CEO of OUTsurance Namibia, an insurance company whose name was changed to “First National Bank (FNB) Insurance”, following its takeover by FirstRand Namibia, the parent company of FNB, but also of RMB, Ashburton, PointBreak, companies operating throughout Namibia.
Naungula Kauluma holds a BA in Political Science from Spelman College (USA) and an MBA from the University of Stellenbosch (South Africa). She has also completed Duke University’s Women Leading Africa – Board Leadership program.
Prior to joining FNB, Naungula Kauluma worked for the Namibian subsidiary of British insurance company Old Mutual, where she began her career in 2006 and held a number of positions, including managing director of short-term insurance. On joining Old Mutual Namibia, Naungula Kauluma was instrumental in developing the Old Mutual Namibia brand, before pioneering the group’s Africa strategy from 2009 to 2012.
Naungula Kauluma received the Namibian Businesswoman Award in 2017 and 2019.
New CEO of FNB Commercial Banking
Sepo Haihambo, the new CEO of FNB Commercial Banking, has a wealth of experience in financial services and investment banking. A graduate of the prestigious Harvard Business School, she also holds a Master of Science (MSc) in Financial Management from the renowned School of Oriental and African Studies (SOAS) at the University of London.
Prior to her appointment, Sepo Haihambo was Commercial Director of FNB. Prior to that, she was Head of Global Markets for Rand Merchant Bank (RMB) in Namibia. RMB is the corporate and investment banking division of FNB Namibia, responsible for relationship management and sales.
Tailor-made solutions for customers
Long before that, Sepo Haihambo was responsible for Coverage at RMB Namibia. The Coverage division identifies clients’ needs and provides the tailor-made and innovative solutions required. Sepo Haihambo managed a team responsible for working with customers on a day-to-day basis to understand their global banking needs. In this role, she proposed and implemented banking solutions for large local businesses, multinationals and public sector companies linked to national development initiatives.
These banking solutions range from global market instruments to corporate banking solutions covering transaction banking, trade finance, working capital, digital banking platforms and investment banking services.
Sepo Haihambo is also an equity trader on the Johannesburg Stock Exchange (JSE) and is responsible for settlements.
