Catherine Poran has been appointed as chief executive of Stanbic Business Incubator, replacing Tony Otoa who left four months ago to take up the role of Chief Corporate Affairs Officer at the Uganda National Oil Company (UNOC).
Poran’s appointment took effect on July 1, 2024, 2024.
According to a statement from the bank Poran “brings a wealth of experience in business management, strategic planning, and risk management, making her the ideal leader for the role.”
Stanbic Bank said the Stanbic Business Incubator is dedicated to nurturing and building the competitive capacity of local entrepreneurs and start-ups by providing a range of services, including business mentorship, training, and funding, to help enterprises access financing opportunities to facilitate their growth.
The incubator is a subsidiary of Stanbic Uganda Holdings Limited (SUHL). SUHL comprises Stanbic Properties Limited, SBG Securities Limited, FlyHub, and the anchor—Stanbic Bank Uganda Limited, collectively employing more than 2000 people.
Prior to her appointment, Poran served as the Head of Corporate and Investment Banking at Standard Bank Mozambique. She is a seasoned banker with a 20-year career in the Standard Bank Group, including 15 years in Uganda.
She expressed her excitement about her new role.
“I am honoured to have the opportunity to lead Stanbic Business Incubator and contribute to the growth of Ugandan businesses. I look forward to working with our stakeholders and partners to drive innovation, entrepreneurship, and economic development in line with our purpose of driving Uganda’s growth. My vision is to further establish Stanbic Business Incubator as a leading hub for entrepreneurship and innovation in Uganda, and I am committed to working tirelessly to achieve this goal,” she said.
Francis Karuhanga, the SUHL Chief Executive expressed his optimism about Poran’s appointment.
“We are thrilled to have Catherine at the helm of Stanbic Business Incubator which she has served as a Board Member since its incorporation and has been a part of the value creation and journey mapping. Her appointment as CE is a natural progression, and we are confident that she will leverage her skills, knowledge, and expertise to actualize the company’s vision,” Karuhanga noted.
Poran holds a master’s in Business Administration from Edinburgh Business School, Heriot Watt University, UK, a Master of Laws from Buckingham University, and a Bachelor of Laws from Buckingham University.
