He was previously the Chief Executive at Standard Bank Malawi for four years after several executive management positions in the banking, mining and media industries in South Africa.
Stanbic Uganda Holdings Limited has appointed Andrew Mashanda as the new Chief Executive Officer replacing Patrick Mweheire.
Mashanda has been the Account Executive Director, Corporate and Investment Banking at Stanbic IBTC Bank, Nigeria, the Nigerian subsidiary of the Standard Bank group.
“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,” says the communication.
He was previously the Chief Executive at Standard Bank Malawi for four years after several executive management positions in the banking, mining and media industries in South Africa. Mashanda holds a Bachelors Computation in Accounting Science from the University of South Africa and a Post Graduate Diploma in Global Management from University of Salford, UK. He also previously served as Director and Regional Head, East Africa Operations.
End of an Era
Mweheire was appointed Managing Director and Chief Executive of Stanbic Bank Uganda in January 2015, replacing Philip Odera , a Kenyan banking executive.
He was the first Ugandan to head the bank since South Africa-based Standard Bank became majority shareholder in 2001.
During his tenure at Stanbic Uganda, he oversaw the restructuring of the company, a process that aimed at separating the different functions it was carrying out, Stanbic Bank Uganda, Stanbic Properties limited and Stanbic Business Incubator.
Two more subsidiaries, a fintech and an equity brokerage subsidiary will be operationalised by the end of 2020.
In April 2019, Stanbic Bank Uganda reorganized its corporate structure to create the Holding Company, Stanbic Uganda Holdings Ltd (SUHL) with key subsidiaries including the bank Stanbic Bank which is the banking arm, and the Stanbic Asset Management. This also gave the company a go ahead to acquire more businesses, away from banking.Mweheire was then appointed the first chief executive of the newly formed holding company.In 2020, he was appointed Regional Chief Executive for Eastern Africa, at Standard Bank Group, based in Nairobi Kenya, leaving Anne Juuko as his replacement at the Bank.He continued to serve as a Non- Executive Director of Stanbic Bank Uganda, SBU.The bank has remained the largest commercial bank in the country, by assets. As of December 2019, its total assets were valued at USh6.65 trillion, […]
