Andrew Mashanda is the new chief executive of Stanbic Uganda Holdings Limited, according to Japheth Katto, who chairs the board of the financial institution.
He took over the role on November 1, replacing Patrick Mweheire, who is also the regional chief executive of Standard Bank Group.
“Following the appointment of Andrew Mashanda, Patrick Mweheire, therefore, steps down as Chief Executive, Stanbic Uganda Holdings Limited but continues to serve as a Non- Executive Director of Stanbic Uganda Holdings Limited and Stanbic Bank Uganda Limited,” Katto said in a statement.
“He will also continue in his capacity as Regional Chief Executive, Standard Bank Group.”
Mashanda joined Standard Bank Group in 2006 and has until recently served as executive director of Corporate and Investment Banking, Stanbic IBTC Bank, Nigeria.
He has held several executive management positions and was previously the chief executive at Standard Bank Malawi for four years prior to his secondment in Nigeria.
A holder of a Bachelor of Accounting Science from the University of South Africa (1990-1995), and a Post Graduate Diploma in Global Management from the University of Salford, United Kingdom (2015-2016), Andrew Mashanda also previously served Stanbic as director and regional head for East Africa Operations.
Japheth Katto said Mweheire has played an instrumental role in the establishment of the holding company that currently holds three subsidiaries, namely: Stanbic Bank Uganda, Stanbic Properties limited and Stanbic Business Incubator.
Two more subsidiaries, a fintech and equity brokerage subsidiary, are set to be operationalized by the end of 2020, according to Katto.
“Patrick remains a role model and an exceptional leader as he continues to steer the growth and success of Standard Bank Group.”
In his regional position, Patrick Mweheire is responsible for Standard Bank Group’s growth strategy in East Africa which comprises of Kenya, Uganda, Tanzania, South Sudan and Ethiopia.