KAMPALA, Uganda — Stanbic Uganda Holdings Limited has announced the appointment of corporate veteran Mark Ocitti Ongom as its next chief executive and board director, effective July 10, 2026. The appointment, confirmed via an institutional disclosure, follows formal regulatory approval and marks a major leadership transition for the country’s largest financial services group.
Ongom takes over from Francis Karuhanga, who is stepping down from the domestic holding company portfolio to focus exclusively on his role as the regional chief executive for Southern and Central Africa for Standard Bank Group.
As Ongom prepares to assume leadership of Africa’s largest banking conglomerate subsidiary by asset volume, market observers are looking closely at the executive credentials he brings to the helm of Stanbic Uganda.
An Executive Career Spanning Three Decades
Ongom joins Stanbic Uganda with nearly 30 years of operational and leadership experience gained across highly competitive commercial sectors. His professional background spans the fast-moving consumer goods, telecommunications, and energy sectors across Uganda, East Africa, and Central Africa.
Prior to his appointment at Stanbic, Ongom served as the president of Sanku. His previous executive deployments include senior roles at major multinational corporations operating in the region, including East African Breweries Limited, Airtel Africa, and Shell Uganda.
Significantly for his new role in banking governance, Ongom has direct board-level experience within the Ugandan financial sector, having previously served as the non-executive chairman of Equity Bank Uganda.
Academic and Professional Qualifications
Ongom’s administrative and commercial background is backed by a strong academic foundation in statistics and business management.
He holds a Master of Business Administration from Heriot-Watt University’s Edinburgh Business School in Scotland. He completed his undergraduate studies at Makerere University, where he graduated with a Bachelor of Statistics with honors. Additionally, he is an associate of the Chartered Institute of Arbitrators in the United Kingdom.
Strategic Mandate and Sector Endorsements
Baker Magunda, the chairman of the board of directors at Stanbic Uganda Holdings Limited, stated in Stanbic.JPG that Ongom steps into the organization at a pivotal moment. Magunda expressed confidence in Ongom’s proven capacity to drive commercial growth and build upon the corporate foundation established by his predecessor.
Dr. Joshua Oigara, Standard Bank Group’s regional chief executive for East Africa, also endorsed the incoming executive, noting that Ongom’s strategic clarity and commercial acumen will be vital as the group expands its footprint in Uganda, which sits at the center of the region’s growth opportunities.
Commenting on his transition into the banking group, Ongom emphasized his commitment to collaborating with the institution’s personnel to deliver sustained consumer value.
“I am honoured to take on this responsibility at such an exciting time for Stanbic Uganda,” Ongom said. “What stands out most about this business is its people — talented, committed colleagues who show up every day for its clients.”
