Standard Chartered names new Tanzania CEO after Kasekende exit

Dar es Salaam — Standard Chartered Bank has appointed veteran banker Geofrey Mchangila as its new Chief Executive Officer for Tanzania, succeeding Ugandan banking executive Herman Kasekende who stepped down earlier this week after leading the lender through a major strategic transition.

Mr Mchangila joins the bank from Citibank Tanzania, where he previously served as chief executive officer, bringing extensive experience in corporate banking and financial sector leadership.

Standard Chartered announced the appointment following Mr Kasekende’s official departure on May 26, ending a regional banking career that spanned more than two decades across East Africa.

During his tenure, Mr Kasekende oversaw some of the bank’s major corporate and infrastructure financing deals while strengthening relationships with multinational firms, government institutions, and large local enterprises.

His exit comes at a pivotal moment for Standard Chartered Tanzania after the bank completed the transfer of its wealth and retail banking business to Access Bank PLC as part of the group’s global restructuring strategy.

The transaction effectively marked Standard Chartered’s exit from consumer banking in Tanzania, leaving the lender focused entirely on corporate and investment banking operations.

Industry analysts say Mr Mchangila’s appointment signals the bank’s intention to deepen its presence in high-value corporate financing, infrastructure funding, and institutional banking.

Beyond his leadership at Citi, Mr Mchangila has also played a key role in Tanzania’s banking industry governance, serving as vice chairperson of the Governing Council of the Tanzania Bankers Association.

Banking sector observers say his strong understanding of Tanzania’s regulatory and corporate environment positions him well to lead Standard Chartered’s streamlined business model.

The bank has recently played a major role in financing strategic national projects, including participating in funding arrangements for Tanzania’s Standard Gauge Railway expansion.

Mr Mchangila now takes charge of one of Tanzania’s oldest international banking franchises, with Standard Chartered tracing its operations in the country back to 1917.

He is expected to steer the lender’s next phase of growth as competition intensifies in East Africa’s corporate banking sector and governments increasingly turn to private financial institutions to support infrastructure development and industrial expansion.