Standard Bank Group Names Francis Karuhanga New Chief Executive. The Standard Bank Group has named Francis Karuhanga as the new Chief Executive for Stanbic Uganda Holdings (SUHL), a listed entity on the Uganda Stock Exchange under which Stanbic Bank operates, alongside four other subsidiaries—Stanbic Properties Limited, SBG Securities, Stanbic Business Incubator, and FlyHub.
Karuhanga is a Ugandan professional with a career spanning over two decades (since 2001) and has gained wide-ranging senior leadership experience spanning over 15 years, ten of which have been at the executive management level.
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.
“Mr. Karuhanga has been working as the Group Chief Auditor based in Johannesburg, South Africa—a top 15 position in the organization’s Global Leadership hierarchy. 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. Mweheire.
It should be noted that 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).
The Standard Bank Group operates in 20 African countries and four global financial centers. As of December 2022 (FY22), the group’s net asset value grew by 10%, while market capitalization was about USD 17 billion.