Catherine Poran Replaces Tony Otoa as Stanbic Business Incubator Chief Executive

Stanbic Uganda has appointed Catherine Poran as the first female Chief Executive (CE) of the Stanbic Business Incubator, effective 1st July. Catherine Poran replaces Tony Otoa, who has joined the Uganda National Oil Company (UNOC) as Chief Corporate Affairs Officer.

Poran brings a wealth of experience in business management, strategic planning, and risk management, making her the ideal leader for the role. The Stanbic Business Incubator is dedicated to nurturing and building the competitive capacity of local entrepreneurs and start-ups by providing services such as business mentorship, training, and funding to help enterprises access financing opportunities to facilitate their growth.

The incubator is a subsidiary of Stanbic Uganda Holdings Limited (SUHL), the listed entity on the Uganda Stock Exchange. SUHL operates Stanbic Properties Limited, SBG Securities Limited, FlyHub, and the anchor—Stanbic Bank Uganda Limited, collectively employing more than 2,000 people.

Prior to her appointment, Catherine, a Ugandan, served as the Head of Corporate and Investment Banking at Standard Bank Mozambique and welcomed the opportunity to return home. She is a seasoned banker with an impressive 20-year career in the Standard Bank Group, including 15 years in Uganda.

Francis Karuhanga, the SUHL Chief Executive, expressed his optimism about Catherine's appointment: “We are thrilled to have Catherine at the helm of Stanbic Business Incubator, which she has served as a Board Member since its incorporation and has been a part of the value creation and journey mapping. Her appointment as CE is a natural progression, and we are confident that she will leverage her skills, knowledge, and expertise to actualise the company's vision.”

Catherine Poran expressed her excitement about her new role: "I am honoured to have the opportunity to lead Stanbic Business Incubator and contribute to the growth of Ugandan businesses. I look forward to working with our stakeholders and partners to drive innovation, entrepreneurship, and economic development in line with our purpose of driving Uganda’s growth. My vision is to further establish Stanbic Business Incubator as a leading hub for entrepreneurship and innovation in Uganda, and I am committed to working tirelessly to achieve this goal."

Catherine holds a Master’s in Business Administration from Edinburgh Business School, Heriot-Watt University, UK, a Master of Laws from Buckingham University, and a Bachelor of Laws from Buckingham University.