Stanbic Holdings Appoints Joseph Muganda As Board Chairman

The Board of Directors of Stanbic Holdings PLC has appointed Joseph Muganda as its board chairman effective 1st January 2024.

This follows the retirement of Kitili Mbathi, whose term as the Board Chairman and Director will be ending on 31st December 2023.

Muganda has been serving as an independent non-executive Director of Stanbic Holdings since 12th October 2021.

He has also served in other blue-chip firms including British American Tobacco (BAT), East Africa Breweries Limited (EABL), Nation Media Group (NMG) and Vivo Energy.

Mbathi joined the board of Stanbic Holdings as a Non-Executive Director on 9th October 2007 and was appointed as Chairman of the Board on 9th May 2019.

Read: Stanbic Bank Records 39 Pc Jump In Net Profits For 2021

He has also served as a board member and chairman of Stanbic Bank Kenya Limited (Stanbic Bank).

During his tenure as Director and Chairman of the Board, Mbathi steered the company through the successful implementation of the firm’s strategic plans, embedment of sustainability and risk management, among others.

“The Board sincerely appreciates Mr. Mbathi for his exceptional service and leadership. commitment and dedication over the years and wishes him the best in his future endeavours,” stated the firm’s Company Secretary Nancy Kiruki.

Muganda holds a Bachelor of Science in Economics (Accounting and Financial Management) from the University of Buckingham and a Master of Business Administration from the University of Leicester.