Stanbic Bank Uganda CEO, Anne Juuko, made the Africa.com 2023 Definitive List of Women CEOs. This list, the only one of its kind in Africa, is a data-driven list that recognizes the women who lead big business in Africa. Big business, for this purpose, is defined as being listed on one of Africa’s stock exchanges and having revenue of over $100 million, or a market cap of over $150 million.
Harvard Business Review reports on the startling lack of diversity among CEOs of big business. To be the CEO of a large, listed company in Africa is an extreme rarity for women, which is why recognizing them is so important. Research by Harvard Business School faculty recognizes one important factor that all of the women who reach the CEO spot have in common: resilience.
“In simple terms, the answer to the question of what it takes [for these women] to succeed can be reduced to a single capacity: resilience….women we interviewed seemed to rely more heavily than others on that quality, because of the frequency with which they encountered obstacles and setbacks resulting from the intersecting dynamics of race, gender, and other identities.” Harvard Business Review
The Africa.com list was compiled over many months through a deep research effort, starting with data provided by Bloomberg on all of the listed companies in Africa. From there, the research team culled the data to meet the required size requirements, and then further determined which of those companies had women at the head. The list also includes women who lead divisions of listed companies, such that the division would qualify for the list were it a standalone entity, and the women who lead the Africa region for globally listed companies, such that the region would qualify for the list were it a standalone entity.
Anne Juuko has been part of the Standard Bank Group for over 9 years having joined as Head of Global Markets in Uganda in 2012. Ms Juuko was later appointed Head of Corporate and Investment Banking at Standard Bank Namibia in 2018 prior to being appointed into her current role in March 2020. Ms Juuko has over 20 years wealth of experience in the financial services industry both regionally and globally. She has exhibited exemplary performance throughout her tenure, demonstrating exceptional leadership and a stellar performance that will see her set to achieve Stanbic Bank Uganda’s strategy and vision.
“It’s such an honour to be recognized alongside other celebrated women leaders on our continent, for the third time in a row. It’s an honour because Uganda has hundreds of brilliant, hardworking women who are breaking the proverbial glass ceiling, every day, in their respective fields of practice. Many of them, I know personally, as they are my colleagues at work and in the financial services sector where I have been active for the last two decades. So, allow me to say that this recognition is not mine alone but one that I wish to accept, on behalf of my fellow women at Stanbic Uganda with whom we give our very best, daily, to make a difference in our country and to also give the African girl child the confidence and reason to believe that whatever they seek to become—it can be,” says Ms Juuko
To mark the evolution of Africa.com’s Definitive List of Women CEOs, now in its third year, Africa.com researched and analyzed 2,020 listed companies on Africa’s 24 stock exchanges. The companies were screened for revenue of $100 million or more, or a market cap of $150 million or more, which yielded a list of 787 companies. The public websites of these 787 companies were examined to determine those women who have a title of chief executive officer or managing director or president AND to confirm that these executives have bottom line, profit and loss responsibility.
This work represents one of the first analyses of the performance of publicly listed companies in Africa conducted through a gender lens. The research, shared with the world on April 19th at the virtual reveal of the star performers on Africa.com’s 2023 Definitive List of Women CEOs.
About Standard Bank Group
Standard Bank Group is the largest African bank by assets, operating in 20 African countries and 4 global financial centers. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.
Standard Bank has a 161-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.
Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.
The group has over 46 000 employees excluding Liberty, more than 1 143 branches and over 6 600 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.
Standard Bank Group Limited (SBG or Group) headline earnings for the twelve months to 31 December 2022 (FY22) were R34.2 billion. Return on equity (ROE) improved to 16.4%. Net asset value grew by 10%. Standard Bank’s market capitalisation as of 31 December 2022 was R284 billion (USD17 billion).
The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
For further information, go to http://www.standardbank.com