Standard Bank Group appoints new Chief Executive for Uganda Holdings

December 13, 2023 in Finance, Financial Services by Editor

Karuhanga is a Ugandan professional with a career spanning over two decades and has gained wide-ranging senior leadership experience spanning over 15 years, ten of which have been at executive management level. He has deep risk management skills and experience covering Corporate, Investment, Commercial and Retail banking portfolios.

The Standard Bank Group has named Francis Karuhanga as the new Chief Executive for Stanbic Uganda Holdings (SUHL), the listed entity under which Stanbic Bank is the anchor subsidiary.

The others are Stanbic Properties Limited, SBG Securities, Stanbic Business Incubator Limited, and FlyHub. Karuhanga succeeds Andrew Mashanda who after December 31, 2023, will be taking on a new role within the Johannesburg-based Group.

Patrick Mweheire, the Standard Bank Group Regional Chief Executive forEast Africa said in a statement Tuesday, “It is worth noting that Mr. Karuhanga has accepted to leave his current role as Group Chief Auditor—a top 15 position in the organisation’s Global Leadership hierarchy, to become our new Chief Executive for SUHL. The deployment of such an important member of the Group’s leadership is a sign of commitment to our purpose of driving Uganda’s growth.”

SUHL is a listed entity on the Uganda Stock Exchange, and a member of the Standard Bank Group —Africa’s largest lender by assets. The Group operates in 20 African countries and four global financial centers, enjoying a strategic position that enables its purpose of driving growth on the continent, by connecting Africa to select emerging markets as well as pools of capital in developed markets.

Since joining the Standard Bank Group in 2001, Karuhanga has risen through the ranks, serving in various leadership positions including his current role as Group Chief Auditor based in Johannesburg South Africa.

According to a statement, Karuhanga is a Ugandan professional with a career spanning over two decades and has gained wide-ranging senior leadership experience spanning over 15 years, ten of which have been at executive management level. He has deep risk management skills and experience covering Corporate, Investment, Commercial and Retail banking portfolios.

Mweheire said, “We are confident that with his strong record of being a collaborative leader and an aptitude for building and leading teams, developing, and motivating people, Mr. Karuhanga will consolidate the growth of our franchise, building on the work of his predecessor to continue delivering exceptional value for our shareholders, and customers.”

Karuhanga is a Fellow of the Association Chartered Certified Accountant (FCCA UK), and a Certified Financial Services Auditor (CFSA) who holds a master’s degree in accounting and finance as well as a Bachelor of Commerce degree (Accounting).