Samuel Fredrick Mwogeza, hitherto the Stanbic Bank, Uganda, Executive Head for Consumer & Affluent Banking is quitting the bank, for a yet-to-be-named Global CFO role, CEO East Africa Magazine can exclusively reveal.
According to very knowledgeable close sources, he was headhunted for a Global CFO role in a yet-to-be-named international not-for-profit organisation that focuses on social impact and financial inclusion and has a presence in Sub-Saharan Africa, South Asia and South America.
Including Stanbic Bank, Mwogeza has altogether had nearly 20 years in senior roles in the Ugandan commercial banking industry- 12 of them at Stanbic Bank, Uganda’s largest bank by deposits, lending, income, and assets, and as such the most profitable.
Between June 2003 and September 2007, he worked at Citibank Uganda as the Head of Business Services and Operations and then moved to Barclays Bank Uganda (now Absa Bank Uganda) in April 2008 as Head, Commercial MI & Analytics till April 2010.
In May 2010 he crossed over to Stanbic Bank Uganda as the Finance Manager, Corporate & Investment Banking and after 2 years, he grew to become a Financial Controller for nearly four years.
In between 2014 to August 2015, he was seconded by Group to work in Tanzania and the Democratic Republic of Congo.
In November 2015, he was appointed the Chief Finance Officer of the bank until March 2021, when he crossed over from Finance, to become the head of the Consumer and Affluent Banking segment of the Bank.
The Makerere University and Edinburgh Business School trained banker has also been the Board Chairman of Stanbic Properties Ltd and a Non-Executive Director at Liberty Life Assurance- a Stanbic Bank and Liberty Holdings Limited owned company.
A star-studded 12-year ride at Stanbic Bank
In 2017, under the then CEO, Patrick Mweheire, he played a critical role in the bank’s transformation review that saw the bank become a leaner and more efficient lender— subsequently reducing its cost-to-income ratios to under 50%.
Tight Rules, Big Money: Energy Ministry Restricts Gold Trade to Licensed Operators as Central Bank Enters a UGX 20 Trillion Market 
This paved the way for the reorganisation of the bank, creating a holding structure, again a process in which Samuel was a critical player. The reorganisation which was completed on 1st April 2019 saw the creation of a holding company— Stanbic Uganda Holdings Limited and four subsidiaries. The four subsidiaries are Stanbic Bank Uganda Limited, Stanbic Properties Limited, Stanbic Business Incubator Limited and FlyHub Uganda Limited- the fintech arm of the Group.
Samuel Mwogeza won the 2018 CFO of the Year Award, organised by ACCA Uganda and Deloitte in recognition of his role in leading the bank’s transformation review.
In September 2019, he was recognised as the CPA of the Year at the 2019 Accountancy Service Awards (ASA) by the Institute of Certified Public Accountants of Uganda (ICPAU).
Samuel also played a leading role on the Uganda Bankers Association (UBA) technical subcommittee that revised and reshaped the industry’s tax policy reforms.
Under his leadership as the head of the Consumer and Affluent Banking segment of the Bank, Stanbic scooped the Platinum Award 2020/2021, under the Best Commercial & Development Bank category in the Consumers Choice Awards, organised by Consumers Choice.
Speaking, last Friday, 5th August 2022, at a farewell party organised by the Bank in his honour, Mwogeza described his time at the bank as a “ride of a lifetime.”
“I am grateful to everyone who has made it such a worthwhile experience. The fantastic leadership of the various Chief Executives over the years, including our current leader, Anne (Juuko), the teams I worked with in different capacities, the entire staff community and our customers, it was an honour working with all of you,” he said.
In her farewell remarks, Chief Executive Anne Juuko said, “at Stanbic, we say that once a blue, always a blue—Sam is leaving but he will always be a dear member of our blue family and the fruits of his work which was fully dedicated to creating value for our customers and shareholders will always be remembered and honoured by the Bank. On behalf of everyone, I wish you good luck and success in your next undertaking.”
