Two Ugandan Managers Leave Top Foreign Firms

Two Ugandan nationals holding high positions in some of the largest foreign companies in the country have stepped aside. Charles Nalyaali, the Managing Director at Kenya’s Equity Bank, and Francis Kazinduki, the Chief Technical Officer at South Africa’s MTN Uganda, the largest company in Uganda, have left their positions amidst unclear circumstances.
The departure of Nalyaali, the founder of Uganda Microfinance Limited, the company that Equity Bank bought in 2008, had raised tension within the market over Ugandan nationals being sidelined from top positions in foreign companies. Equity Bank today came out to publicly explain that Nalyaali had attained the normal retirement age as stipulated in the bank’s policy.
Nalyaali’s position remains vacant. Equity Bank is now calling for application forms.
For Kazinduki, who has been at MTN for about a decade, his departure remains unclear. Kazinduki is said to be replaced by a Lebanese.