Stanbic Uganda Holdings appointed Francis Karuhanga as its next chief executive and executive director on its board.
The company, a holding company for Stanbic Bank Uganda, Uganda’s largest bank by assets, as well as Stanbic Properties, SBG Securities, Stanbic Business Incubator, and FlyHub, said Mr Karuhanga will take the role on 1 January. He joins from the parent company, Standard Bank Group, where he was chief auditor.
Andrew Mashanda, whom Mr Karuhanga will be replacing, will step down on 31 December to take up a new position within the group.
“Having joined the Standard Bank Group in 2001 as an internal auditor, Mr Karuhanga has steadily risen through the ranks, serving in several senior positions and is currently the group chief auditor, a top 15 role in the organisation’s global leadership hierarchy,” said Baker Magunda, chairperson of the board, in a statement.
“The deployment of such an important member of the group’s leadership is an indicator of the organisation’s commitment to our purpose of driving Uganda’s growth.”
Mr Karuhanga is a Fellow of the Association of Chartered Certified Accountants and a Certified Financial Services Auditor. He holds master’s and bachelor’s degrees in accounting and finance.
Stanbic Uganda Holdings was incorporated in April 2019, with Stanbic Bank Uganda as its sole subsidiary at the time. Patrick Mweheire, chief executive of Stanbic Bank between 2015 and 2020, was its first chief executive. He was replaced by Mr Mashanda, a South African national, in November 2020. Stanbic Uganda Holdings is listed on the Uganda Securities Exchange.
