Standard Bank Group has appointed Andrew Mashanda as the Head, Business and Commercial Banking (BCB), Africa Regions and Offshore, effective April 2025. In this role, Mashanda will lead the Group’s…
Stanbic Uganda Holdings Limited (SUHL) has once again proven its financial strength, posting a record net profit of UGX 478 billion in 2024, up from UGX 411.5 billion in 2023,…
Stanbic Uganda Holdings Limited (SUHL) has donated vital medical equipment and consumables worth UGX 30 million to the maternity ward of Naguru Hospital, also known as China-Uganda Friendship Hospital. The donated equipment includes a modern operating table, adjustable delivery beds, examination couches, and mama kits; all aimed at enhancing maternal healthcare services and improving the well-being of mothers and infants. Stanbic Uganda Holdings Chief Executive, Francis Karuhanga, emphasised the importance of investing in maternal healthcare and commended Naguru hospital staff for their efforts despite facing challenges. Dr Emmanuel Tugaineyo, Hospital Director, expressed gratitude to Stanbic for their support, stating that…
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In a move poised to transform Uganda’s investment landscape, SBG Securities, a subsidiary of Stanbic Uganda Holdings Limited, has launched the Stanbic Unit Trust (SUT), an innovative investment vehicle that empowers Ugandans to pool their resources, leveraging professional fund management to generate favourable returns. SBG Securities is a listed entity on the Uganda Stock Exchange (USE) operating four other businesses including Stanbic Bank Uganda, Stanbic Properties Uganda, Stanbic Business Incubator and FlyHub. SBG Securities Chief Executive Grace Semakula said the Stanbic Unit Trust will accommodate various investment goals and needs, offering three distinct funds including Money Market Fund (short-term), Bond…
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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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After three years at the helm of Stanbic Uganda Holdings Limited (SUHL), Andrew Mashanda is set to leave the Chief Executive role, CEO East Africa Magazine can exclusively reveal. He will be taking up a yet-to-be-specified role within the Standard Bank Group, effective January 2024, according to our sources. Listed on the Uganda Securities Exchange, SUHL is Uganda’s largest financial and financial technology conglomerate. It is the mother company of Stanbic Bank—Uganda’s largest commercial bank, as well as four other subsidiaries⏤ Stanbic Properties, Stanbic Business Incubator, SBG Securities, and FlyHub. Mashanda’s three-year term at the helm of SUHL will come…
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The National Social Security Fund (NSSF) has won their fourth Gold Award in Financial Reporting, beating 108 organisations which submitted their annual reports for evaluation in the 2022 Financial Reporting (FiRe) Awards competition. In second position came Stanbic Uganda Holdings Limited, taking the Silver Award, while Centenary Rural Development Group Limited came third with the Bronze Award. While presenting the Award to the Fund, the Chairperson of the FiRe Awards Committee, CPA Stephen Ineget noted that the organisation provided a clear and detailed explanation of its value-creation process, highlighting the key inputs, business activities, outputs, and outcomes. NSSF also won…
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In spite of an unpredictable operating environment characterized by global price instability and a tightening of monetary policy by Bank of Uganda to curb imported inflationary pressures, Stanbic Uganda Holdings Limited (SUHL) reported a half year profit-after-tax of UGX162 billion ending June 30, 2022. This is up from UGX158 billion recorded during the same period last year, indicating a 4.7% improvement. Speaking during presentation of the SUHL 2022 half-year results, the Chief Executive, Andrew Mashanda, said, “our performance was driven largely by our anchor subsidiary, Stanbic Bank Uganda Limited. Our new subsidiaries are continuing to deliver green shoots of hope…
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Stanbic Uganda Holdings Limited (SUHL), a leading financial services provider in Uganda, delivering exceptional client experiences and superior value has revealed that it will pay dividend of UGX 1.95 per share for the year ended 31st December 2021 and the interim dividend for the year 2022 by Monday, 25th July 2022. “Following receipt of Shareholder approval and authorisation to take the necessary steps required to declare and effect the payment of dividends, the Board of Stanbic Uganda Holdings Ltd (SUHL) hereby declares a combined a dividend of UGX 1.95 per share to be paid in respect of the final dividend…
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MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers (PwC) Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The multinational professional services network of firms, which ranks the second-largest professional services network in the world has also been appointed by Stanbic Uganda Holdings Limited as their External Auditors of the Company for the year 2022. Enid Edroma, MTN Uganda, Company Secretary said that the re-appointment of PwC was reached at during the annual general meeting of the held on Friday 27 May 2022 at the Company’s…
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