Stanbic Uganda Holdings has appointed Andrew Mashanda as the new chief executive, replacing Patrick Mweheire who continues to serve the company as a Non- Executive Director.
In a notice to shareholders by Board Chairman Japheth Katto, the company informs shareholders of the appointment that took effect on November 1, 2020.
“Stanbic Uganda Holdings Limited informs its shareholders and the general public of the appointment of Mr. Andrew Mashanda as Chief Executive and by virtue of that position, as an Executive Director of the Company effective November 1st, 2020,” Katto says in the notice.
Andrew Mashanda joined Standard Bank Group in 2006 and has until recently served as Executive Director of Corporate and Investment Banking, Stanbic IBTC Bank, Nigeria. He has held several Executive Management positions and was previously the Chief Executive at Standard Bank Malawi for four (4) years prior to his secondment in Nigeria. He also previously served as Director and Regional Head, East Africa Operations.
Mashanda holds a Bachelor of Accounting Science from the University of South Africa (1990-1995), and a Post Graduate Diploma in Global Management from the University of Salford, United Kingdom (2015-2016).
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The notice further states: “Following the appointment of Andrew Mashanda, Patrick Mweheire therefore steps down as Chief Executive, Stanbic Uganda Holdings Limited but continues to serve as a Non- Executive Director of Stanbic Uganda Holdings Limited and Stanbic Bank Uganda Limited. He will also continue in his capacity as Regional Chief Executive, Standard Bank Group.”
Patrick is lauded for having played an instrumental role in the establishment of the Holding Company that currently holds three subsidiaries including; Stanbic Bank Uganda, Stanbic Properties limited and Stanbic Business Incubator, and two more subsidiaries, a fintech and equity brokerage subsidiary that will be operationalised by the end of 2020.
“Patrick remains a role model and an exceptional leader as he continues to steer the growth and success of Standard Bank Group. In his regional position, Patrick is responsible for Standard Bank Group’s growth strategy in East Africa which comprises of Kenya, Uganda, Tanzania, South Sudan and Ethiopia,” Katto says in the notice to the shareholders, adding: “Join us in welcoming and congratulating Andrew Mashanda on his new appointment as Chief Executive, Stanbic Uganda Holdings Limited and thanking Patrick Mweheir for his exemplary leadership in the transformation of the organisation as we continue to strive towards achieving our purpose to drive Uganda’s growth.”
