Francis Karuhanga Named New Stanbic Uganda Holdings Chief Executive

Kampala, Uganda—December 13, 2023: 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.

“It is worth noting that Mr. Karuhanga has accepted to leave his current role as Group Chief Auditor—a top 15 position in the organisation’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. Mweheire. 

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.

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 the 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 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).