Patrick Mweheire Regional Chief Executive – East Africa Standard Bank Group The amiable Mweheire is a man of many firsts. He was the first Ugandan Chief Executive Officer of Stanbic Bank in the bank’s 116-year history. He is as well the first Ugandan to rise to the level of Regional Chief Executive. Patrick joined Stanbic Bank Uganda in 2012, as Executive Director- Head of Corporate & Investment Banking from whence he was in January 2015, appointed Managing Director. In March 2020 he was appointed Regional Executive, East Africa, overseeing Kenya, Uganda, Tanzania, Ethiopia and South Sudan. In the 4 years,…
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Ugandan business leaders have expressed unequivocal support for the East African Crude Oil Pipeline (EACOP), a project they say will guarantee Uganda’s energy security as well as improve the livelihoods of Ugandans. In a joint statement to the Conference of the Parties (COP) 27, the business leaders said: “As Ugandan private business leaders, we register our support to the Lake Albert Oil & Gas Development project which will secure the supply of Petroleum Products to our domestic market, with the construction of a refinery and the commercialization of Liquefied Petroleum Gas (LPG). The remaining products will be evacuated to the…
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As chairman of the Uganda Chamber of Mines and Petroleum, what does the chamber focus on? At the Chamber, there are a few things we have tried to focus on. In the initial stage, we were more of a lobbying and advocacy group but since we had the final investment decision on oil and gas, we have realigned and focused on four arrears, namely: Local content and employment creation— there is a significant amount of investment coming into oil and gas in the coming 3-5 years about USD 20 billion. Our focus has been, how much of that can we…
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The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. Spanning a single network that includes Uganda, Tanzania, Kenya and South Sudan, the Borderless Banking solution has grown exponentially starting January 2021 to March 2022, at a rate of US$40million of transactional volume from virtually zero in January 2021. From February to March 2022 alone, the volume of successful transactions grew 24%, with a total value US$3.5million in transactions processed in March. “Clients in the region have long been struggling to access cross-border transactions platforms that offer…
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The Uganda Chamber of Mines and Petroleum has appointed a new team to its governing council.The 12-member team was appointed to the UCMP’s governing council during the 11th Annual General Meeting.The team is be led by Standard Bank Group Regional Chief Executive – East Africa (Kenya, Uganda, Tanzania, Ethiopia and South Sudan) Patrick Mweheire, deputized by TotalEnergies Deputy General Manager Mariam Nampeera Mbowa. Ashaba Aggrey, General Manager at GCC SERVICES LIMITED- an integrated remote site services company, is the new General Secretary while Pamela Natamba, Partner, PwC Uganda and Oil&Gas Leader for PwC Uganda, is the new Treasurer. The 12-member team of…
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Francis Karuhanga, a Ugandan, has been named the new Chief Audit Officer at Standard Group. “It is with great excitement that we announce the appointment of Francis Karuhanga as our new Chief Audit Officer, effective from 15 April. Francis takes over from Mike White, who has upheld the highest professional standards during his tenure. With over 21 years of experience in the financial industry, Francis’ astute leadership will be central in taking the Internal Audit function to greater heights,” Standard Bank, which is the parent company for Stanbic Bank announced. Francis has grown through the ranks within the Group, starting…
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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…
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Uganda’s largest bank by assets and deposits, Stanbic Bank, has posted an incredible 26.5 percent growth in assets from UGX 6.1trillion to UGX 7.7 trillion, Half Year results for year 2020 show. In their first half year, Stanbic’s lending grew by 24.0% to UGX 3.4 trillion from UGX 2.7 trillion in June 2019 while maintaining the Compound annual growth rate (CAGR) of 16.4% which hasn’t changed for the last 5 years. The bank also saw its customer deposits increase by UGX1.1 trillion (26.6% year on year growth) from UGX 4.1 trillion in June 2019 to UGX 5.2 trillion in June…
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Most borrowers tend to hide away from their banks at the very first sign of trouble. And as COVID-19 related business complications begin to make landfall for many businesses in Uganda in form of canceled bookings and orders, delayed deliveries, delayed payments, low demand etc., cash, the life-blood of every business will or has already started to dry up. If you have an existing credit facility with your bankers, there is an increasing likelihood that you will begin to default and the banks will start calling. If you do not have any existing facility chances are very high that you…
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Please mention a few key highlights for Stanbic Bank in 2019? We delivered another great performance and were able to improve on all our key performance goals. We grew our deposits by 21% as more customers trusted us with their money and our loans & advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing, agriculture and personal lending – where we provided more than 40% of new lending. Our revenues grew 20% year-on-year to exceed UGX 800 billion and were well-diversified between lending and non-lending revenue. As…
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