In a March 2023 interview with Bloomberg, Patrick Mweheire, the Standard Bank Group Regional Chief Executive for East Africa, told of the Group’s ambitions for the Kenyan market, revealing that the Group was looking to make a major acquisition by 2025, a milestone if achieved, would propel Stanbic Kenya to the top three banks in the country. As regional East African Chief, Mweheire’s jurisdiction covers Kenya, Uganda, Tanzania, Ethiopia, Malawi and South Sudan. Standard Bank Group through Stanbic Africa Holdings Limited, owns 70.53% of Stanbic Holdings Plc Kenya, which in turn owns 100% of Stanbic Kenya Limited, alongside other subsidiaries⏤…
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The Uganda Bankers’ Association’s Chairperson, Citibank’s Sarah Arapta is female too- the first woman to. Some financial institutions such as Finance Trust Bank- have taken it further by having an all-female Board Chairperson, CEO and Executive Director while others like Stanbic Bank, Uganda’s largest Bank and have both CEO and Executive Director as female. You could argue this is still under-representation, which it actually is, given that there are more females than males in the population, but given where we have come from, this is good progress. Some of the largest banks such as Stanbic where 45% is female and…
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Africa.Com has released the 3rd edition of its annual Africa.com Definitive List of Women CEOs⏤ a data-driven list of 93 women running big businesses on the African continent. The data-driven list is built on data provided by Bloomberg. Launched in 2010, Africa.com is a media holding company with an extensive array of platforms that reach a global audience interested in African content and community. “This year’s list of 93 women represents 17 countries who have qualified based on either large-scale revenue or large-scale market capitalisation. The list includes 40 women from South Africa, 12 from Nigeria, and 6 from Egypt, Ghana…
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On the evening of Friday, 09th September 2018, unknown persons hacked the mobile money float accounts of a payments aggregator company called Beyonic Ltd and originated payments amounting to UGX2,617,761,200. According to police, the money was wired to and withdrawn in via 83 different MTN Mobile Money and Airtel Mobile money accounts/SIM cards. The fraud was detected 07 days later, the mobile accounts were blocked around the 16th of September. Investigations showed that the beneficiary SIM cards had been registered without the consent and or knowledge of the registered owners. A couple of months later, between the 13th of March…
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Fitch, the international credit rating agency, has retained the Stanbic Bank Uganda’s National Rating at ‘AAA (uga)/Stable’, the highest possible on a national scale in its latest report issued last week. The rating agency also upgraded Stanbic Bank Uganda’s Viability Rating (VR) to ‘b+’ from ‘b’ due to improved capital buffers relative to its risk profile. VR is the assessment of the bank’s standalone creditworthiness. The VR reflects the concentration of the bank’s operations in Uganda’s relatively weak operating environment as well as SBUL’s leading market position, large capital buffers supported by internal capital generation, diversified and healthy revenue streams…
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The bank which is the biggest lender with 21% of the market share, in 2020 restructured UGX800 billion of loans, giving room to clients to get back on their feet. Thanks to this stitch-in-time, coupled with the consistent matching of interest rates with the Central Bank Rate enabled customers to regain stamina and by 2021 the value of restructured loans was reduced to UGX197 billion. By the end of 2022, this was further brought down to just UGX 14.5 billion. Bad loans in the same pool were just UGX 26 billion. It is therefore no surprise that the bank saw…
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I am pleased with the bank’s robust performance in 2022, a year in which we registered notable progress in enabling the aspirations of our various stakeholders, including customers, shareholders, staff, government, and the community in which we live and work. We manifested our purpose of driving Uganda’s growth through partnerships and our own efforts, in ways that directly and indirectly benefited millions of Ugandans and supported the country’s post-pandemic economic recovery. Without diluting the severity of the emerging global and local challenges to our economy, we would like to celebrate the success stories of our customers registered in 2022, most…
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Stanbic Holdings Uganda Limited has released its performance for 2022, reporting record-breaking growth across all parameters. SUHL is part of the Standard Bank Group, Africa’s largest Bank and is comprised of 5 subsidiaries which include: Stanbic Bank Uganda Limited, the leading commercial bank in Uganda; Stanbic Properties Limited, a real-estate company; SBG Securities Uganda Limited, an investment and brokerage firm; Stanbic Business Incubator Limited, an enterprise development institution and FlyHub Uganda Limited, technologies and innovations company. SHUL reported that profit after tax went up 33% to UGX357.4 billion from UGX269.3 billion in 2021. Assets surged 3.9% from UGX8.7 trillion to UGX9.1…
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The interview takes place at her office on the 11th floor of the imposing Crested Towers building where Stanbic Uganda corporate headquarters are located. Getting there earlier than the noon appointment on a Tuesday afternoon, I am asked to wait in the lobby overlooking the parliament of Uganda, the green serenity of Serena hotel and the Victorian architectural marvel of the UBC headquarters. Thirty minutes past noon, Anne as she is fondly called by colleagues emerges from an adjoining conference room with the bank’s People and Culture head, David Mutaka, and half a dozen young persons with physical disability who…
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Coca-Cola Beverages Uganda (CCBU) through its initiative, Plastic Recycling Industries (PRI) has today partnered with Stanbic Bank Uganda to further reduce plastic waste in Uganda. This partnership is part of CCBU’s environmental sustainability programme that seeks to create a world without waste. CCBU, which is part of The Coca-Cola Company, shares in the larger Group’s ambition of making 25% of its packaging reusable by 2030, collecting for recycling the equivalent of 100% of packaging sold and creating packaging that is at least 50% recycled material by 2030. This is as a 2022 report by the National Research Repository of Uganda…
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