A season of public service: leading corporate lawyer Gertrude Karugaba joins Bank of Uganda

The realities of our time demand an adaptive legal and compliance posture, says Ugandan lawyer Gertrude Karugaba, as she confirmed this week she’d taken up the role of Executive Director, Legal Services and General Counsel at Bank of Uganda.

“In the coming weeks, I look forward to getting to know the Legal team and other colleagues across the Bank, and to building together on the strong work already done, supporting sound decision-making and institutional governance, and responding thoughtfully to the realities of our times,” she shared on social media.

Karugaba has been described as a ‘world class professional’ by clients for her work on banking and corporate structuring, and has been consistently ranked by global directories for a decade as a leading lawyer in Uganda for corporate and commercial law. She brings experience not only from in-house roles, but private practice, and corporate and non-for-profit boards which she has served on.

“This is a season of public service at the institution responsible for maintaining price stability, safeguarding the soundness of the financial system and supporting sustainable economic growth,” she shared this week. “Above all, I come with gratitude for the opportunity, and with the humility and desire to keep learning new ways of serving, leading and building strategic partnerships … the work ahead is less about me and more about the people and institutions the Bank of Uganda serves.”

A law graduate of Makere University who also earned an LLM in Commercial Law from Cambridge University, Karugaba began her legal career with Sebalu and Lule Advocates and Legal Consultants in Kampala, before moving in-house in early 2024.

She spent a decade at Stanbic Bank, Uganda’s largest commercial bank and part of Africa’s largest banking group, covering legal advisory, risk management and corporate governance, including serving as Head of Legal and Company Secretary.

Karugaba then returned to private practice, rejoining her old firm which had since become the exclusive Ugandan member of DLA Piper Africa. As a partner and Head of Corporate & Commercial, she practised in the corporate, M&A, capital markets and banking space. She also served for several years as a Non Executive Board Member of KCB Bank and Non Executive Chair of both FSD Uganda and Abacus Pharma. Most recently, Karugaba was the Group Chief Legal Officer for Equity Group.

“To the colleagues I have worked alongside over the years, thank you for challenging and teaching me to be a better lawyer, professional and leader,” she said this week.

While the departure of Karugaba’s predecessor as Executive Director, Legal Services at the Bank of Uganda, Ann Margaret Kaggwa Kasule, has not been confirmed by the Bank, Karugaba appears set to take the baton as the bank’s chief legal advisor.

Under various titles, Kasule had served in several roles as the Bank of Uganda’s top legal official for two decades, including becoming Executive Director, Legal Services in January 2025 after a restructuring. Kasule’s tenure had been marked by several high-profile controversies, and she has drawn criticism from lawmakers, media, and the judiciary.

Karugaba brings a broad range of high-level legal, banking, and governance expertise to the role, and an internationally acclaimed reputation as a dealmaker.