Standard Bank Group Names Francis Karuhanga New Chief Executive Stanbic Uganda Holdings

By Zulfah Namatovu

in Kampala

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 operated, alongside four other subsidiaries—Stanbic Properties Limited, SBG Securities, Stanbic
Business Incubator, and FlyHub.

Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa says Mr. Karuhanga is succeeding Andrew Mashanda who will be taking on a new role within the Group—after December 31, 2023.

In coming Standard Bank Francis Karuhanga

“It is worth noting that Mr. Karuhanga has accepted to leave his current role as Group Chief Auditor a top 15 position in the organization’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,” said Mr.

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

Outgoing Chief Executive Andrew Mashanda

Mr. 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.

“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,” said Mweheire.

Mr. 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).

About Stanbic Uganda Holdings
Stanbic Uganda Holdings Limited (SUHL) is a listed entity on the Uganda Stock Exchange, and a member of the Standard Bank Group (the Group)—Africa’s largest lender by assets. SUHL is home to Stanbic Business Incubator, Stanbic Properties Limited, SBG Securities, FlyHub, and the anchor subsidiary, Stanbic Bank—Uganda’s largest commercial bank by assets, income, and customer deposits, as of December 31, 2022.

The Standard Bank 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.

The group has over 46000 employees and operates more than 1143 branches and over 6600 ATMs across Africa, enabling delivery of a range of services across personal, business, corporate and investment banking segments.

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