Patrick Oketa appointed Financial Sector Deepening Uganda Executive Director

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Financial Sector Deepening (FSD) Uganda has filled its open position on the leadership team. Patrick Oketa joins as the Executive Director – he will lead the development and oversee the delivery of FSD Uganda’s key programmatic initiatives.
He replaces Ms. Rashmi Pillai
Patrick is a seasoned banker, economist, and finance professional with experience in debt investing, private equity, development banking and advisory.
He has over 20 years of experience working to deploy capital to businesses which have the potential to positively change the livelihoods of Uganda’s most vulnerable communities.

Patrick most recently worked as Managing Director at Aval Capital. His experience includes roles with Development Banks such as: the African Development Bank, East African Development Bank, and the Uganda Development Bank. He has also in the past worked for Actis, Acumen and Pearl Capital as Director and partner.
He brings a wealth of experience in the management of capital flow across the entire ecosystem. He has worked with diverse multinational teams and has earned deep credibility as a trusted advisor and partner with a myriad of stakeholders in both private and public sector.
Patrick is passionate about financial inclusion and impact investing. He is an ardent advocate for the increase in the role of the financial sector as a contributor to the national GDP of Uganda with a belief that this could exponentially improve the livelihood of millions of Ugandans which fits in well with FSD Uganda’s vision and mission.
He holds a Bachelors’ Degree in Economics, Masters in Banking and Finance and an MBA.
Ms. Rashmi Pillai
Rashmi joined FSD Uganda as the Director of Programmes in 2018 and was appointed to the role of Executive Director in 2019. Over the last four years, she has spearheaded FSD Uganda’s vision on systemic change for a more inclusive financial sector. A sector that proactively catered to the marginalized like women, youth, smallholder farmers, refugees, and small businesses.

Under her stewardship and strategic steer, FSD Uganda has grown to become the country’s leading ‘think and do tank’ on financial inclusion.
The organisation has nurtured strong partnerships with key government ministries and agencies, the private sector, development partners and industry associations to help shape the operating environment of the financial industry in the country. The alliances enabled us to inform policies, regulations and digitally driven and evidence-backed approaches that have led to the development of tailor-made products benefiting many more Ugandans. The forward-thinking approach for relevant studies like the Covid -19 Wave series, has informed government initiatives, such as the recovery programmes being implemented by the government of Uganda.
Over the last four years, the organisation has championed innovative ideas that continue to challenge the status quo to meet the needs of ‘risk groups’ and strengthen the digital space to improve efficiencies and increase the reach of financial services. Some notable innovations include the Shared Agent Banking Network, the Electronic Know Your customer project impacting 15 million bank accounts, refugee finance directly impacting 200,000 households, digitisation of SAGE elderly payments, among others.
Rashmi championed the development of a bold new strategy, “FSD Uganda 2.0,” to support the development of a financial sector that will increase the take-home income of people and businesses and contribute to the real economy.

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The new direction, flexibility of approach and strategic alignment led FSD Uganda to onboard new partners – the Mastercard Foundation for a $25MN Recovery Fund targeting micro and small businesses , and the $3.25 MN European Union led technical assistance Deal Flow Facility targeting non-bank financing into mature Ugandan businesses. Thus, contributing to the national development goals of economic transformation.

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