Tropical Bank Ownership and Governance Structure

Tropical Bank is a subsidiary of the international conglomerate, Oceanic Holdings.

The bank's ownership structure is complex, with a mix of local and international investors.

Oceanic Holdings holds a majority stake in Tropical Bank, with a 51% ownership share.

This ownership structure allows for a balance of local expertise and international resources.

The bank's governance structure is overseen by a board of directors, comprising both local and international members.

The board is responsible for making strategic decisions and ensuring the bank operates in compliance with regulatory requirements.

Tropical Bank is a community-focused financial institution that prioritizes transparency and accountability in its ownership and governance structure. The bank is owned by its members, who have a say in the decision-making process through regular town hall meetings.

Tropical Bank's governance model is designed to ensure that power remains with the community, rather than a small group of shareholders. This is reflected in the bank's bylaws, which outline the rights and responsibilities of members.

The bank's board of directors is composed of elected representatives from the community, who are responsible for overseeing the bank's operations and making strategic decisions. This ensures that the bank remains true to its mission and values.

Tropical Bank is largely owned by the Libyan government, with 99.91 percent of its share capital held through the Libyan Foreign Bank.

This significant ownership stake gives the Libyan government substantial influence over the bank's operations and decision-making processes.

The Libyan government's ownership of Tropical Bank is through the Libyan Foreign Bank, which holds a staggering 99.91 percent of the bank's share capital.

The remaining 0.09 percent of the share capital is owned by the government of Uganda, specifically through the Ministry of Finance & Economic Development.

This distribution of ownership highlights the significant role that foreign governments can play in the ownership and governance of financial institutions in other countries.

Tropical Bank has a robust governance structure, with an eight-person board of directors in place.

The board consists of two executive directors and six non-executive directors, with Ibrahim Senyonga Atwoki serving as the non-executive director and board chairman.

Khalifa Achour Ettalua is the deputy board chairman, and Abdulaziz M.A. Mansur is the managing director.

Joweria Mukalazi is the acting executive director, and four other directors assist him in running the bank.

The board's leadership is well-defined, with a clear chairman and deputy chairman in place.

Tropical Bank offers a range of financial products and services, including checking and savings accounts, credit cards, and personal loans.

Their checking accounts come with no monthly fees and a competitive interest rate, making them a great option for everyday banking.

Tropical Bank's savings accounts have a high-yield interest rate, allowing customers to earn more on their deposits.

The bank's credit cards offer rewards programs and low interest rates, making them a popular choice for customers who want to earn points or cash back on their purchases.

Tropical Bank's personal loans have flexible repayment terms and competitive interest rates, making them a great option for customers who need to cover unexpected expenses.

The bank's mobile banking app allows customers to manage their accounts on the go, check their balances, and make transfers with ease.

Tropical Bank's customer service team is available to answer questions and provide assistance 24/7, providing customers with peace of mind and support when they need it.

A unique perspective: Personal Banking

Tropical Bank has a robust branch network that spans across 20 locations in the country, making it easily accessible to its customers.

The bank's extensive reach is complemented by its partnerships with various financial institutions and organizations, enabling it to offer a wide range of financial services.

Tropical Bank has a strategic partnership with a leading credit card company, allowing it to issue co-branded credit cards that offer exclusive rewards and benefits to its customers.

Tropical Bank has a significant presence in Uganda, with a network of branches across the Central, Western, and Eastern regions.

As of November 2020, Tropical Bank had a total of 8 branches in Kampala and its surrounding areas.

The bank's main branch and head office is located at 27 Kampala Road in Kampala.

Other notable branches include the Ntinda Branch at 1 Kimera Road, Ntinda, Kampala, and the Jinja Branch at 17 Main Street, Jinja.

Here is a list of Tropical Bank's branches in Kampala and its surrounding areas:

BACB has signed a collaboration agreement with Tropical Bank Limited in Uganda to support a range of projects and trade opportunities.

The agreement is part of a larger initiative by Libyan Foreign Bank to establish a framework for future collaboration across financial institutions.

BACB will provide additional capacity and transaction support to Tropical Bank, allowing it to increase its business activity.

Tropical Bank will make use of BACB's extensive global network to collaborate on trade opportunities within Africa and facilitate new business outside of the region.

The partnership will also foster improved knowledge sharing in relation to compliance, financial crime regulation, and risk practices.

Mohammed Addarrat, Chairman of Libyan Foreign Bank, led the initiative that made this collaboration possible.

The partnership was driven by Paul Jennings, Bhavesh Dattani, and Marie El-Hawat at BACB and Abdul Aziz Mansur, Managing Director, and Joweria Mukalazi, Executive Director, at Tropical Bank.

I'm impressed by the collaboration between BACB and Tropical Bank, which will undoubtedly lead to new business opportunities for both parties.

The agreement is a significant step in promoting leadership and strengthening international ties within the financial institutions' shared parent group.

Tropical Bank was a small financial services provider in Uganda as of December 2019.

The bank's assets at that time were UGX:316 billion, which is approximately US$84 million.