Stanbic Holdings Uganda Limited has appointed Grace Semakula, former investor relations manager at power distributor Umeme, as chief executive of SBG Securities Uganda Limited, its securities and asset management services subsidiary.
The company has been without a permanent chief executive since the departure of founding CEO Joram Ongura last May.
Francis Karuhanga, the SUHL chief executive, said Mr Semakula’s “holistic understanding of the financial landscape, coupled with analytical dexterity and strategic acumen, means he has what it takes to lead SBG Securities to the next frontier of growth.”
Mr Semakula, a Chartered Financial Analyst, is currently pursuing a distance learning masters in business administration at the University of Warwick. A statement by the company said he has nearly two decades of experience in asset management, brokerage, and the energy and infrastructure sectors, with twelve of those years spent in senior positions.
As of May 2023, SBG Securities had served over 38,000 clients, according to the statement. It also played a leading role in the MTN Uganda initial public offering in 2021.
SUHL, a member of the Johannesburg-based Standard Bank Group, is listed on the Uganda Securities Exchange. Its other subsidiaries include Stanbic Bank Uganda, the country’s largest bank by assets, as well as Stanbic Business Incubator, Stanbic Properties, and FlyHub.