SBG Securities, a subsidiary of Stanbic Uganda Holdings, has named Grace Semakula as its new CEO, effective March 1. Prior to his appointment, Semakula was the Investor Relations Manager at Umeme Ltd, since February 2016. Before that, he worked at NSSF for five years as portfolio manager and equity analyst, having begun his career in 2007 as a research analyst at African Alliance, a securities brokerage firm. He replaces Joram Ongura, the founding boss. Semakula, 41, holds a Bachelor of Science degree in Statistics from Makerere University and an MBA from the Warwick Business School, UK. In 2013, he earned the Chartered Financial Analyst certification from the CFA Institute, a global association of investment professionals whose mission is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Francis Karuhanga, the Stanbic Holdings Uganda boss, described Semakula as a professional who possesses a diverse skill set that covers financial modeling, private equity, fixed income, equities, and investment banking. “His holistic understanding of the financial landscape, coupled with analytical dexterity and strategic acumen, means he has what it takes to lead SBG Securities on the next frontier of growth,” he said in a statement. Commenting on his appointment, Semakula said; “I am delighted to confirm news of my appointment as CEO—SBG Securities Uganda, effective March 1, 2024. I’ve always been passionate about expanding and deepening the level of participation by Ugandans in our capital markets and exploring local investment opportunities. “This new assignment gives me just the right platform to do so, with my colleagues, as we create value for our stakeholders and drive Uganda’s growth.” SBG Securities is one of the five subsidiaries of Stanbic Uganda Holdings Ltd, including Stanbic Bank, Stanbic Properties, Stanbic Business Incubator, Fexi-pay and FlyHub; all members of the Standard Bank Group, Africa’s largest financial services provider. The securities brokerage company obtained its brokerage licence from the Capital Markets Authority in April 2021 and successfully steered MTN’s initial public offering (IPO). Apart from also doing asset and investment management, the company buys and sells shares on behalf of its clients in Uganda and the regional markets of Kenya, Rwanda and Tanzania through its affiliated entities.
