Stanbic Bank has seen remarkable profits under the leadership of Patrick Mweheire in recent years. As the Regional Chief Executive overseeing East Africa, Mweheire believes in the region’s strong economic potential, citing a youthful population and a GDP growth rate that surpasses other African regions. He emphasizes the significant inter-regional trade increase, showcasing East Africa’s resilience in recovering from the economic impact of the Covid-19 pandemic.
Addressing Stanbic Bank’s dominance in Uganda, Mweheire attributes their success to a customer-centric approach, led by the exceptional Ugandan leadership team. During challenging times, the bank provided proactive Covid-19 relief programs, displaying resilience and maintaining a strong brand presence. Mweheire also highlights the benefits of being part of the largest financial institution in Africa.
Looking ahead to 2024, a crucial year for Uganda’s oil sector, Mweheire sees opportunities beyond oil and gas, emphasizing the positive impact on various sectors due to significant foreign direct investment. He underscores the bank’s role in supporting local enterprises to capitalize on these opportunities.
The announcement of a new CEO for Stanbic Uganda-Holdings, Francis Karuhanga, is viewed as a substantial investment in the Ugandan franchise. Mweheire praises the outgoing CEO, Andrew Mashanda, and expresses confidence in Karuhanga’s ability to lead the bank in its next growth phase.
As Anne Juuko’s term as CEO comes to an end in March 2024, Mweheire commends her leadership during challenging times and expresses a desire for her to take on larger responsibilities within the Standard Bank Group, possibly in a regional management role.
Regarding the vacancy at SBG Securities, Mweheire assures that a replacement for Joram Ongura is imminent, with an announcement expected before the year-end.
Despite global economic headwinds, Mweheire remains optimistic about East Africa’s outlook for the coming year. He envisions continued growth, internal connectivity, and a focus on supporting renewable energy, positioning Stanbic Bank as a leading financial institution in the region.
