Summary:
- The Standard Bank Group has appointed Francis Karuhanga as the new Chief Executive for Stanbic Uganda Holdings, succeeding Andrew Mashanda, with Karuhanga leaving his role as Group Chief Auditor to take on the position.
Francis Karuhanga has been appointed as the new Chief Executive for Stanbic Uganda Holdings (SUHL), the listed entity overseeing the operations of Stanbic Bank, by the Standard Bank Group.
According to Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, Karuhanga will succeed Andrew Mashanda, who will be assuming a new role within the group after December 31, 2023.
Mweheire emphasized that Karuhanga, currently serving as the Group Chief Auditor in Johannesburg, South Africa, has demonstrated his commitment to the purpose of driving Uganda’s growth by accepting the role of Chief Executive for SUHL.
Karuhanga, a Ugandan professional with over two decades of experience, joined the Standard Bank Group in 2001 and has held various leadership positions. He is recognized for his deep risk management skills and extensive senior leadership experience, particularly in corporate, investment, commercial, and retail banking portfolios.
“We have confidence in Karuhanga’s collaborative leadership style, team-building aptitude, and ability to develop and motivate people. He is expected to continue the growth of our franchise, delivering exceptional value for shareholders and customers,” stated Mweheire.
Karuhanga is a Fellow of the Association Chartered Certified Accountant (FCCA UK), a Certified Financial Services Auditor (CFSA), and holds a master’s degree in accounting and finance, along with a Bachelor of Commerce degree (Accounting).
Stanbic Uganda Holdings Limited (SUHL), listed on the Uganda Stock Exchange and a member of the Standard Bank Group, encompasses various entities, including Stanbic Business Incubator, Stanbic Properties Limited, SBG Securities, FlyHub, and the anchor subsidiary, Stanbic Bank, which is Uganda’s largest commercial bank by assets, income, and customer deposits as of December 31, 2022.
The Standard Bank Group, operating in 20 African countries and four global financial centers, holds a strategic position in connecting Africa to emerging markets and capital pools in developed markets, aligning with its purpose of driving growth on the continent.
