Dr. Patricia Ojangole, Managing Director of Uganda Development Bank (UDB), has been appointed Chairperson of the Association of African Development Finance Institutions (AADFI)—the umbrella body for development finance institutions across the continent.
Her appointment was officially announced during the 51st Ordinary General Assembly of AADFI, held on May 26, 2025, at the Sofitel Hotel Ivoire in Abidjan, Côte d’Ivoire. The event also marked the Association’s Annual General Assembly and the celebration of AADFI’s 50th anniversary.
“Dr. Ojangole distinguished herself as the First Vice Chairperson of AADFI from 2019 to 2025. Her elevation to Chairperson marks a historic milestone—she is the first woman to hold this esteemed position since the Association’s inception,” read a citation from AADFI.
The citation added: “Her leadership reflects UDB’s commitment to excellence, inclusion, and transformative development across Africa.”
Dr. Ojangole succeeds Thabo P. Thamane, CEO of the Citizen Entrepreneurial Development Agency (CEDA) in Botswana, who has chaired the AADFI Board since June 2019.
In her acceptance speech, Dr. Ojangole expressed gratitude for the trust placed in her by the General Assembly, describing the appointment as a great honor. She challenged the member institutions—comprising more than 91 national, regional, and multilateral DFIs from Africa and beyond—to evaluate their impact on African prosperity.
“Are we creating enough good jobs to match our population growth? Are we industrializing our economies? What are we doing to boost exports, substitute imports, and create robust local value chains?” she asked.
She emphasized that these pressing issues inspired her to take on the role, noting that her tenure will focus on fostering thriving, prosperous, and advanced African economies through strong and innovative national DFIs.
“We will only make meaningful progress if we’re willing to embrace change, take bold steps, and move beyond outdated governance models that have long defined DFIs across Africa,” she asserted.
The AADFI Board oversees the Association’s operations and supervises the General Secretariat. It includes the Bureau—made up of the Chairperson and two Vice-Chairpersons—as well as five members representing Africa’s sub-regions and an additional member elected by Special and Honorary members.
Founded in 1975 under the auspices of the African Development Bank, AADFI aims to foster cooperation for sustainable development financing in Africa and to promote regional economic integration.
AADFI is a founding member of the World Federation of Development Financing Institutions, which unites continental DFI associations on a global platform. It is also a member of the Global Sustainable Finance Network and holds Observer Status at the World Bank.
