Stanbic Bank Uganda honors Daniel Ogong as he steps down after 8 years as Head of Brand & Marketing, marking a pivotal chapter in the bank’s growth.

Kampala, Uganda — September 24, 2025 — Stanbic Bank Uganda has announced the departure of Daniel Ogong, its Head of Brand & Marketing. He will officially step down on October 1, 2025, after serving the bank for eight years.

The bank praised Ogong for leading transformative campaigns that strengthened Stanbic’s visibility, digital presence, and customer loyalty.

“Daniel has been instrumental in shaping our brand strategy, connecting Stanbic Bank Uganda to millions of customers, and leading campaigns that reinforced our position as the country’s largest bank. We thank him for his commitment and wish him success in his next chapter,” the bank said in a statement.

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Growth During Ogong’s Tenure

Stanbic Bank Uganda is a subsidiary of Standard Bank Group. It remains the largest commercial lender in Uganda, with more than 20% of the banking market share. In neighbouring Kenya, the brand declared one of the highest final dividends paid by a Kenyan bank in 2024.

Over the past decade, its assets have risen above UGX 10 trillion ($2.6 billion). The bank has focused on both retail and corporate banking, driving financial inclusion and innovation.

Ogong helped push this growth through marketing and brand campaigns that made Stanbic stand out in a crowded field.

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Driving Financial Inclusion

A major part of Ogong’s legacy is his work on financial literacy and inclusion. According to the Bank of Uganda, nearly 60% of Ugandans remain outside the formal banking sector.

To address this, Ogong led campaigns that encouraged savings, mobile banking, and community outreach. Projects such as “Every Ugandan Counts” and “Bank on the Go” helped rural communities access services through mobile platforms. These efforts allowed the bank to serve clients who had little or no access to physical branches.

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Competing in a Tough Market

Uganda’s banking sector has become highly competitive. Rivals such as Equity Bank Uganda and dfcu Bank have expanded aggressively, targeting both urban and rural markets.

Stanbic responded by investing in digital-first marketing. Ogong’s leadership helped ensure the bank remained top-of-mind for customers. He also connected Stanbic’s brand to corporate social investment projects in education, entrepreneurship, and sustainability.

One example is the National Schools Championship, which Ogong championed. The program reached more than 500 schools nationwide, training thousands of young people in entrepreneurship and leadership.

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Recognition Beyond Uganda

Under Ogong’s watch, Stanbic’s marketing achievements were recognized at both regional and global levels.

In 2022, Global Finance named Stanbic Bank Uganda the Best Consumer Digital Bank in Uganda. Judges highlighted its ability to combine digital transformation with strong customer engagement.

These awards boosted the bank’s reputation, not just in Uganda but across East Africa.

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The Future for Ogong

While Stanbic has not revealed Ogong’s next role, many expect him to move into fintech or regional banking. Uganda’s digital finance space has exploded in recent years. As of June 2025, mobile money subscriptions reached 34.6 million users, outnumbering bank accounts in the country.

This shift creates opportunities for leaders with a mix of banking and digital marketing expertise. Ogong’s track record positions him well to step into that space.

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What Comes Next for Stanbic

The bank has not yet named a replacement for Ogong. Sources close to Stanbic suggest that leadership will focus on continuity. The next marketing head will likely expand digital channels, deepen brand loyalty, and respond to rising competition from fintech companies.

The Bank of Uganda has also tightened its monetary policy to control inflation. This means banks must work harder to keep customers engaged and deliver value even as credit conditions tighten.

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Reflections on Leadership

Analysts view Ogong’s departure as part of a wider shift in African banking. Marketing leaders are now expected to be more than campaign managers. They must serve as strategic thinkers, linking finance, technology, and inclusion.

“Daniel’s departure highlights both the opportunities and pressures of leading a major bank’s brand in a digital-first era. His legacy at Stanbic will be hard to replicate,” said a Kampala-based banking consultant.

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A Lasting Legacy

For Stanbic, Ogong’s eight years of service represent a turning point in how African banks build and sustain their brands. His campaigns connected millions of Ugandans to banking services, reshaped Stanbic’s public image, and inspired new levels of competition in the market.

As October 1 approaches, staff, customers, and industry peers reflect on his work. For many, he represents the human face of Stanbic’s transformation journey. His departure signals change, but his impact will continue to shape Uganda’s banking industry for years to come.

Kenya’s Kamau Thugge and Morocco’s Abdellatif Jouahri earned “A” grades in Global Finance’s 2025 Central Banker Report Cards, outperforming peers across Africa.

Kenya’s Thugge, Morocco’s Jouahri Stand Out in 2025 Central Banker Report Cards

Kenya’s Kamau Thugge and Morocco’s Abdellatif Jouahri have emerged as Africa’s leading monetary policymakers in Global Finance magazine’s 2025 Central Banker Report Cards. Both earned “A” grades, surpassing peers from Egypt, Ethiopia, South Africa, and Uganda. Consequently, their performance underscores Africa’s growing credibility on the global monetary stage.

Published annually since 1994, the report evaluates nearly 100 central bank governors worldwide. Ratings range from A+ for exceptional performance to F for failure. Evaluations focus on inflation control, currency stability, and policy independence.

“Our annual central banker report cards recognise leaders who deliver results with independence, discipline, and strategic foresight,” said Joseph Giarraputo, Founder and Editorial Director of Global Finance.

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Thugge Drives Inflation Down and Restores Confidence

Since his appointment in July 2023, Thugge has sharply reduced Kenya’s inflation. Prices that once exceeded 9% in 2022 now sit comfortably within the central bank’s 2.5%–7.5% target range.

The Central Bank of Kenya implemented seven consecutive rate cuts, totaling 325 basis points. As a result, the benchmark rate fell from 12.57% in mid-2024 to 9.5% by August 2025. These measures stabilized the shilling, lowered borrowing costs, and boosted investor confidence.

Analysts note that Kenya’s approach balances monetary discipline with economic growth, earning Thugge recognition as one of Africa’s leading central bankers. Meanwhile, foreign investors have praised the clarity and predictability of Kenya’s monetary framework.

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Jouahri Steers Morocco Through Sharp Disinflation

In Morocco, Jouahri oversaw a steep fall in inflation. Prices declined from 10% in February 2023 to 0.3% by August 2025, well below forecasts.

He also paired interest-rate adjustments with targeted currency-stability policies at Bank Al-Maghrib. These actions strengthened Morocco’s economy and reassured international investors. Consequently, Jouahri earned an “A” grade, making Morocco the only Arab country in the top tier of the 2025 Central Banker Report Cards.

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Africa’s “A-” Central Bankers

Other African leaders performed strongly, earning “A-” grades:

• Hassan Abdalla (Egypt) successfully navigated inflation and currency volatility.
• Mamo Mihretu (Ethiopia) implemented reforms described as the most significant in 50 years before resigning in September 2025.
• Lesetja Kganyago (South Africa) handled global interest rate swings and commodity shocks.
• Michael Atingi-Ego (Uganda) maintained policy credibility despite currency depreciation.

These governors successfully navigated external shocks while preserving independence. Their recognition in the 2025 Central Banker Report Cards highlights Africa’s rising stature in global monetary policy.

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Implications for Africa

The rankings illustrate a growing trend: African central banks are gaining respect for discipline and independence. Many managed global interest rate spikes, commodity-price swings, and currency pressures effectively.

Strong policy frameworks have bolstered investor confidence. Experts suggest top grades for Thugge and Jouahri may encourage other central banks to refine monetary tools and prepare for global uncertainty.

For Kenya, stabilizing inflation could unlock stronger credit growth and attract foreign investment. Similarly, Morocco’s policies reinforce the country’s role as a North African anchor of stability.

“Most African central bankers have spent the past few years battling inflation with their most effective tools. As inflation recedes, we’re beginning to see the results of those tough policy decisions,” Giarraputo said.

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Africa on the Global Stage

Since its inception, the Central Banker Report Cards have become a benchmark for central bank credibility. Past honorees include Alan Greenspan, Mario Draghi, and Haruhiko Kuroda.

The 2025 edition demonstrates that African central bankers now compete on the global stage. Kenya and Morocco’s success shows how disciplined monetary policy can shape investor confidence and influence international perception.

HSBC has left South Africa after 30 years, handing clients to FirstRand. As global lenders retreat, African banks step up to shape the continent’s future.

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HSBC Exit Signals Africa’s Banking Shake-Up

At a Glance

• HSBC ends 30+ years in South Africa, transferring assets to FirstRand’s RMB.
• The exit leaves HSBC with only one African hub: Egypt.
• Other global banks, including BNP Paribas, Barclays, and Standard Chartered, are also scaling back.
• African lenders such as Access Bank, Ecobank, and Equity Group are stepping into the gap.

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HSBC bows out after 30 years

HSBC Holdings Plc has left South Africa after more than three decades of operations. The South African Reserve Bank revoked its license on September 1, 2025, under Section 30 of the Banks Act.

FirstRand Ltd., through its investment arm Rand Merchant Bank (RMB), absorbed HSBC’s local clients, employees, and assets. The portfolio includes subsidiaries of global companies and large South African corporates.

Founded in 1865 in Hong Kong and Shanghai and now headquartered in London, HSBC is redirecting resources eastward. “You have a reordering of the world’s capital flows,” Michael Roberts, head of corporate and institutional banking, told Bloomberg Television. “The interesting thing is the amount of money in the Middle East. We underestimated that.”

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Africa fades from HSBC’s map

Today, HSBC operates only one significant African subsidiary—HSBC Egypt. For South Africa, long viewed as the continent’s financial hub, the exit ends an era.

Foreign lenders once saw Johannesburg as a gateway into Africa. But sluggish growth, strict regulations, and strong domestic competitors made profits scarce. Redirecting resources to Asia and the Gulf proved more strategic.

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A wider retreat by global banks

HSBC is not alone. BNP Paribas closed its South African corporate and investment banking unit in May 2024. Barclays Plc reduced its African footprint by selling down its stake in Absa Group. Standard Chartered has also trimmed its operations in selected markets.

The message is consistent: Africa’s potential remains long-term, but global banks prefer Asia’s deeper capital pools and stronger growth.

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Local banks seize opportunities

For South Africa, FirstRand gains the most. RMB now manages HSBC’s former corporate clients, ensuring continuity. And the South African lender, which is Africa’s largest bank by market value, is positioning itself to enter Kenya after the East African state tightened its capital rules.

Across Africa, local players are expanding. Access Bank Plc of Nigeria acquired Bidvest Bank earlier this year. Old Mutual launched OM Bank in 2025, while Sanlam plans to roll out banking services in 2026. Even Shoprite Holdings, Africa’s largest retailer, is preparing to grow its financial services offering.

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Risks and opportunities for Africa

The retreat of global lenders poses challenges. International banks once provided cross-border expertise and access to global capital markets. Their departure may limit funding options for African firms.

Yet it also opens doors. Regional banks know African markets better and respond more quickly to change. With fewer global competitors, they can scale and consolidate. Analysts believe this could accelerate the rise of pan-African champions.

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A reshaped financial order

HSBC’s withdrawal is more than a local business move. It reflects a larger shift in global finance. Western banks are chasing growth in Asia and the Middle East, leaving Africa to build its own model.

Regional giants like Ecobank, Equity Group Holdings, and Access Bank are already filling the space. Meanwhile, digital innovation is reshaping payments and lending, giving Africa the chance to strengthen its financial independence.

HSBC’s exit closes one chapter but opens another. The challenge is whether African banks can seize this moment to boost their influence on the global stage.