Stanbic Uganda Holdings Limited (SUHL) has appointed seasoned business executive Mark Ocitti Ongom as its new Chief Executive and Director of the SUHL Board.
The appointment takes effect on July 10, 2026, and is, accordingly, part of a planned leadership transition.
The appointment, follows approval by relevant regulatory authorities, and will see Ocitti take over from Francis Karuhanga.
Karuhanga, has been serving in a dual role as Chief Executive of SUHL and Regional Chief Executive for Southern and Central Africa.
Karuhanga will relinquish his SUHL responsibilities and continue serving as Regional Chief Executive for Southern and Central Africa at Standard Bank Group.
The announcement marks a leadership change at Uganda's largest banking group and comes as Stanbic positions itself for its next phase of growth.
Ocitti brings nearly three decades of leadership experience across the fast-moving consumer goods (FMCG), telecommunications and energy sectors in Uganda and across East and Central Africa.
He currently serves as President of Sanku and has previously held executive leadership positions at East African Breweries Limited, Airtel Africa and Shell Uganda.
He also previously served as the non-executive chairman of Equity Bank Uganda.
Academically, Ocitti holds a Master of Business Administration (MBA) 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.
Announcing the appointment, Stanbic Uganda Board Chairman Baker Magunda said the bank was confident Ocitti would steer the institution into its next chapter.
"Mark steps into this role at a pivotal time to lead Stanbic Uganda into its next chapter. We are confident in Mark's ability to accelerate our purpose of driving Uganda and Africa's growth. He is a seasoned executive with nearly 30 years of leadership experience across the FMCG, telecommunications and energy sectors in Uganda, East and Central Africa," Magunda noted.
Magunda, also paid tribute to Karuhanga, whose outstanding stewardship leaves Stanbic's business well-positioned for growth.
Dr Joshua Oigara, Standard Bank Group's Regional Chief Executive for East Africa, described Uganda as a key growth market for the region.
"East Africa is one of the most dynamic and fast-growing regions on the continent, and Uganda is at the heart of that opportunity. Mark is an exceptional leader whose commercial acumen, strategic clarity and passion for excellence position him to help Stanbic Uganda accelerate this potential and drive continued growth and innovation," Oigara said.
Speaking on his appointment, Ocitti pledged to build on the foundation laid by his predecessor.
"I am honoured to take on this responsibility at such an exciting time for Stanbic Uganda. What stands out most about this business is its people - talented, committed colleagues who show up every day for its clients," Ocitti said.
He applauded Karuhanga and the team for building what he says is a strong foundation, and said he was looking forward to working with everyone across the organisation to deliver value.
Stanbic Uganda is part of Standard Bank Group, Africa's largest bank by assets.