Francis Karuhanga picked to take charge of Stanbic

Kampala, Uganda | THE INDEPENDENT | Francis Karuhanga is the new Chief Executive Officer of Stanbic Holdings Uganda Ltd replacing Malawian executive, Andrew Mashanda. Mashanda joined SUHL in November 2020. Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, says that Karuhanga will take over office effective January 1, 2024, while Mashanda is taking on a new role within the Group after December 31, 2023.

SUHL, a subsidiary of the Standard Bank Group of South Africa, Stanbic Bank, Stanbic Properties Limited, SBG Securities, Stanbic Business Incubator, and FlyHub. Karuhanga has been an employee of the group for more than two decades with his current post being Group Chief Auditor, one of the top 15 executives, based in Johannesburg.

“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 Mweheire.

Having joined the Standard Bank Group in 2001, Karuhanga has risen through the ranks, serving in various leadership positions.  The Ugandan professional is credited with a career spanning over two decades of wide-ranging senior leadership experience spanning over 15 years, ten of which have been at the executive management level.

His roles have been in 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.

Karuhanga is a Fellow of the Association of Chartered Certified Accountants (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).

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