Stanbic taps on Uganda, Patrick Mweheire to lead their game; but who is he?

By Our Reporter

In 2012, Patrick Mweheire arrived on the Ugandan investment banking scene with a bang. In that same year, he was tasked by Actis LLP to act as the transaction adviser for the sale of a 36% stake in Umeme.
All the tough questions about the transaction were directed at him. He answered them with ease and was quite bullish about the sale. He exuded confidence and consistency whenever he responded.
Umeme was faced with a barrage of questions especially on power tariffs and whether they were a good investment.

Mweheire had to convince investors that this was a worthwhile company that could deliver a fine dividend and return to shareholders. Convincingly, Mweheire made it look easy; partly because of his background from Wall Street. One could tell he was a great salesman who did not have to beat around the bush about the investment.

Born in 1970, Mweheire left Uganda for the USA after senior six. He never looked back and by the time he completed college in USA he was off to work with Prudential Capital, an investment bank in the United States.

Next was to the Harvard Graduate School of Business. He did not return to Uganda after completing his MA at Harvard. He went on to start working for Merrill Lynch, another investment bank. He did that for eight years before Renaissance Capital came calling. RenCap was looking at the African market and Mweheire was the most suitable candidate.

Taking on the role, he entrenched the company for five years until the Standard Bank Group knocked on his door. He took the job and after 22 years, he was back in the country of his roots.
Notably, Mweheire was immediately an Executive Director and Head of Corporate Investment Banking & Regional Investment Banking Coverage at the Standard Bank Group.

For a “newbie