Stanbic Announces Leadership Changes

Stanbic Holdings Plc has announced a major leadership transition that will see its current chief executive step down at the end of February.

In a notice on Friday, February 13, the company confirmed the retirement of Chief Executive Patrick Mweheire and the appointment of Joshua Oigara to lead the company from March.

The Board confirmed that the current chief executive will leave his role at the end of February while remaining within the broader group in a senior capacity.

"The Board of Directors of Stanbic Holdings Plc announces the retirement of Mr. Patrick Mweheire as Chief Executive and Director of the Company, effective 28 February 2026. Mweheire will continue to serve in a senior executive capacity within the Standard Bank Group," the notice read.

The board highlighted Mweheire's impact during his tenure, noting that his leadership helped strengthen the bank’s position within the wider regional network.

It credited his stewardship with executing key strategic priorities that contributed to long-term value creation.

"Appointed Chief Executive on 3 March 2020, Mweheire provided decisive leadership in the execution of the Company's strategic priorities. Under his stewardship, the Company delivered consistent growth and sustainable value creation, and was instrumental in building Stanbic Kenya into an enviable and well-positioned franchise within the Standard Bank Group," the notice added.

In acknowledging his contribution, the board expressed gratitude for his leadership and wished him success as he continues his career within the group’s wider structure.

"The Board extends its sincere appreciation to Mr. Mweheire for his exemplary leadership and contribution to the Company, and wishes him every success in his continued career within the Group," the notice further read.

The company also confirmed the appointment of Joshua Oigara as the incoming chief executive and director, with the transition scheduled to take effect in March 2026 once all regulatory requirements are completed.

"The Board is pleased to announce the appointment of Dr. Joshua Oigara as Chief Executive and Director of Stanbic Holdings Plc, effective 1 March 2026. This appointment is subject to requisite regulatory approvals," the notice read.

The new appointee currently holds a regional leadership role within Standard Bank Group, overseeing operations across multiple East African markets. 

The board indicated that he will combine both responsibilities moving forward.

"Dr. Oigara is the Standard Bank Regional Chief Executive for East Africa, a position he has held since September 2025, overseeing operations across six countries (Kenya, Uganda, Malawi, Tanzania, South Sudan and Ethiopia). He will assume the role of Chief Executive of Stanbic Holdings Plc in addition to his regional mandate," the notice added.

The board noted that Oigara brings substantial regional banking experience, including previous leadership roles that involved institutional transformation and market expansion.

"Having previously served as Chief Executive Officer of a regional bank in East Africa, Dr. Oigara brings in-depth knowledge of the East African markets and a proven record of institutional transformation," the notice continued.

It also detailed his academic background, noting qualifications in business and finance that underpin his experience in the sector.

The statement further outlined his professional credentials and memberships in key industry institutions.

"Dr. Oigara holds an MBA with Distinction in International Business Management from Edith Cowan University, Australia, and a Bachelor of Commerce degree from the University of Nairobi.

"He is a Certified Public Accountant of Kenya, CPA (K), and a member of both the Kenya Institute of Bankers (KIB) and the Institute of Certified Public Accountants of Kenya (ICPAK). He is a graduate of the Advanced Management Programme at the International Institute for Management Development, Lausanne, Switzerland," the notice further read.

The board said it believes the Oigara's background in financial inclusion, regional growth and transformation will help position the company for continued expansion and innovation.

"The Board is confident that Dr. Oigara's proven track record in banking sector transformation, regional market development, and financial inclusion will position the Company for its next phase of growth. The Board looks forward to his leadership and contribution," the notice concluded.

Oigara joined Stanbic in 2022 and was appointed the Chief Executive Officer for Stanbic Bank Kenya and South Sudan.

Oigara’s appointment took effect on December 1, 2022, and he took over from Charles Mudiwa, who left the bank at that time.

The former KCB Managing Director reported directly to Standard Bank East Africa Regional CEO, Patrick Mweheire, after taking up his new role.

Oigara left KCB in May after serving the bank for nine and a half years, having joined as the managing director in 2013.

He was replaced by Paul Russo in an official statement by the bank.

"The KCB Group PLC Board has today appointed Paul Russo as the company’s Group Chief Executive Officer (GCEO) effective May 25, 2022. He replaces Mr. Joshua Oigara, who has been the GCEO for the last nine and a half years," KCB stated.