Stanbic Uganda appoints Mark Ocitti Ongom as new CEO

Stanbic Uganda Holdings Limited (SUHL) has appointed Mark Ocitti Ongom as its new Chief Executive Officer and Director of the Board, effective 10 July 2026, marking a significant leadership transition at one of Uganda’s largest financial services groups.

Ocitti Ongom succeeds Francis Karuhanga, who has been serving in a dual capacity as Chief Executive Officer of Stanbic Uganda Holdings and Regional Chief Executive for Southern and Central Africa at Standard Bank Group. Following the appointment, Karuhanga will dedicate his full attention to his regional leadership responsibilities across the banking group’s operations.

The appointment positions Ocitti Ongom at the helm of Stanbic Uganda Holdings, the parent company of five subsidiaries: Stanbic Bank Uganda, Stanbic Properties, SBG Securities Uganda, Stanbic Business Incubator, and FlyHub Uganda. SUHL forms part of Standard Bank Group, Africa’s largest bank by assets and one of the continent’s leading financial institutions.

Mark Ocitti Ongom Brings Nearly Three Decades of Executive Leadership

Ocitti Ongom joins Stanbic Uganda with close to 30 years of executive leadership experience spanning the fast-moving consumer goods (FMCG), telecommunications, and energy sectors.

Before accepting the appointment, he served as President of Sanlau and most recently chaired the board of Equity Bank Uganda, one of Stanbic’s key competitors in Uganda’s banking industry. He will step down from the Equity Bank Uganda board to assume his new responsibilities at Stanbic Uganda.

His career includes senior leadership roles at East Africa Breweries, Airtel Africa, and Shell Uganda, where he built extensive expertise in corporate strategy, commercial growth, business transformation, and organizational leadership.

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Academically, Ocitti Ongom holds a Master of Business Administration from Heriot-Watt University’s Edinburgh Business School in Scotland and a Bachelor of Statistics (Honours) from Makerere University. He is also an Associate of the Chartered Institute of Arbitrators in the United Kingdom.

Stanbic Uganda Eyes Next Phase of Growth

Commenting on the appointment, Stanbic Uganda Holdings Chairman Baker Magunda said the company is entering an important stage of its growth journey and expressed confidence that Ocitti Ongom possesses the leadership capabilities required to accelerate the group’s strategic ambitions.

Magunda also acknowledged Francis Karuhanga’s contribution to the business, commending his leadership in strengthening Stanbic Uganda’s position within Uganda’s financial services sector while simultaneously supporting Standard Bank Group’s regional operations.

Dr. Joshua Oigara, Standard Bank Group’s Regional Chief Executive for East Africa, described East Africa as one of Africa’s fastest-growing economic regions, with Uganda expected to remain a key driver of the group’s long-term growth strategy.

According to Oigara, Ocitti Ongom’s extensive leadership experience, commercial expertise, and strategic vision make him well positioned to guide Stanbic Uganda through its next phase of expansion while creating sustainable value for customers, shareholders, employees, and the broader economy.

Leadership Transition Strengthens Regional Focus

The appointment reflects Standard Bank Group’s continued investment in strengthening leadership across its East African operations as competition within the banking sector intensifies and financial institutions pursue digital innovation, customer growth, and regional expansion.

With Karuhanga now fully focused on his regional mandate and Ocitti Ongom assuming leadership of Stanbic Uganda Holdings, the group is expected to continue executing its long-term growth strategy while deepening its position as one of Uganda’s leading financial services providers.