Standard Bank Group Appoints Francis Karuhanga as Chief Executive for Stanbic Uganda Holdings

In a strategic move, the Standard Bank Group has announced Francis Karuhanga as the incoming Chief Executive for Stanbic Uganda Holdings (SUHL), the listed entity overseeing Stanbic Bank and four subsidiaries—Stanbic Properties Limited, SBG Securities, Stanbic Business Incubator, and FlyHub.

The decision marks a leadership transition, with Mr. Karuhanga stepping into the role previously held by Andrew Mashanda, who is set to assume a new position within the Standard Bank Group effective January 1, 2024. Patrick Mweheire, the Regional Chief Executive for East Africa, highlighted the significance of this appointment, emphasizing Mr. Karuhanga’s pivotal position as the Group Chief Auditor—a top-tier role within the organization’s Global Leadership hierarchy.

Mr. Mweheire expressed confidence in Mr. Karuhanga’s ability to drive Uganda’s growth, citing the executive’s extensive two-decade career with the Standard Bank Group. Having joined in 2001, Mr. Karuhanga has steadily climbed the ranks, serving in various leadership capacities, including his most recent role as Group Chief Auditor based in Johannesburg, South Africa.

With a career spanning over 15 years at the executive management level, Mr. Karuhanga brings deep risk management expertise across Corporate, Investment, Commercial, and Retail banking portfolios. A Fellow of the Association Chartered Certified Accountant (FCCA UK) and a Certified Financial Services Auditor (CFSA), he holds a master’s degree in accounting and finance, as well as a Bachelor of Commerce degree in Accounting.

Mweheire expressed optimism that Mr. Karuhanga’s collaborative leadership style, coupled with his adeptness in team building and motivation, will contribute to the continued growth of the franchise. The appointment reflects the Standard Bank Group’s commitment to delivering exceptional value for shareholders and customers in Uganda.