Stanbic Bank Uganda Chief Executive elevated to regional role in Nairobi

March 12, 2024 in Companies, Financial Services by Editor

Under her watch, the bank posted strong prosperity announcing a profit after tax of UGX 365 billion in 2022, up from UGX 242bn in her first year 2020. Performance results for 2023 are set to be released later this month.

The Standard Bank Group has appointed Stanbic Bank Uganda Chief Executive Anne Juuko to a new leadership role at the regional office in Nairobi as the Global Markets Regional Head-East Africa, effective April 1st, 2024

Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa said, “I congratulate and welcome Anne to the East Africa region—an important growth vector in the Group’s business strategy. I am confident that she will succeed in her new mandate—steering the respective country teams to deliver satisfactorily on the set revenue, profitability, and sustainability goals, given her expertise, market networks, and leadership experience.”

She succeeded Patrick Mweheire to become the first female Chief Executive of Uganda’s largest commercial lender in 2020 and is lauded for sustaining the bank’s profitability through some of the most challenging operating environments including two years of the global Covid-19 pandemic.

Under her watch, the bank posted strong prosperity announcing a profit after tax of UGX365 billion in 2022, up from UGX242 billion in her first year 2020. Performance results for 2023 are set to be released later this month.

She is not new to Global Markets banking having joined the Standard Bank Group 12 years ago as Head of Global Markets for Stanbic Bank Uganda (SBU), before moving on to serve as Head of Corporate and Investment Banking Namibia, until 2020 when she was appointed SBU Chief Executive.

Kayode Solola, the Standard Bank Group Executive Head for Global Markets—Africa Regions said, “I congratulate Anne on this skyward deployment within the Group Africa Regions Global Markets leadership where she will oversee seven markets including Uganda, Kenya, Tanzania, DR Congo, South Sudan, Malawi, and Zambia.”

Under her watch, SBU registered considerable success in enabling access to affordable credit for smallholder farmer groups with the launch in 2021 of the SACCO financing and capacity building programme which has since enrolled over 6000 groups with a combined membership of 1.8 million people and deposits of over UGX200 billion.

Collectively, the bank has lent over UGX 80 billion at 10% annual interest to SACCO groups which has indirectly benefited nearly 10 million Ugandans, with support from partners such as Abi Trust, Operation Wealth Creation. It also played a critical part in enabling the implementation of the government of Uganda’s led Parish Development Model

“We thank Anne and her colleagues in senior management for the collaboration and leading their respective teams to considerable success and delivering for both our customers and shareholders,” Damoni Kitabire, the SBU Board Chairman said.

Through Stanbic4Her, Stanbic has enrolled 19 000 women entrepreneurs of which 14 000 were new to bank and had disbursed over UGX60 billion in deposits to women led businesses at an annual interest rate of 15.5% as well as extending financial literacy training to over 54,000 women.

Beyond banking, Anne will, among others, be remembered for championing maternal and neonatal health having launched the Corporate Society for Safe Motherhood alongside other private sector actors, in partnership with the Ministry of Health. Nearly 100, 000 women have benefited from the effort since 2021.

During her time, the bank also invested in FlexiPay, a digital wallet that enables access to financial services without necessarily having a bank account. The digital channel has seen tremendous growth moving from 390,000 wallets in 2022 to over 850,000—nearly a million as of last year.

Anne Juuko holds a Bachelor of Commerce degree from Makerere University and a master’s degree in strategic planning from the Herriot Watt Business School in Edinburgh, Scotland.