The appointment, which takes effect on July 10, 2026, follows approval from the relevant regulatory authorities and forms part of a planned leadership transition within the organisation.
Ocitti will succeed Francis Karuhanga, who has been serving in a dual capacity as Chief Executive of SUHL and Regional Chief Executive for Southern and Central Africa. Under the new arrangement, Karuhanga will step away from his responsibilities at Stanbic Uganda and continue focusing on his regional leadership role within Standard Bank Group.
The leadership change comes at a significant moment for Stanbic Uganda as the institution seeks to build on its market-leading position and drive the next phase of growth, innovation and financial inclusion in the country.
Ocitti arrives with an extensive track record spanning nearly 30 years across multiple industries, including fast-moving consumer goods (FMCG), telecommunications and energy. His experience stretches beyond Uganda, covering key markets across East and Central Africa.
Currently serving as President of Sanku, Ocitti has held several high-profile executive positions throughout his career, including leadership roles at East African Breweries Limited, Airtel Africa and Shell Uganda. He also previously served as non-executive chairman of Equity Bank Uganda, further strengthening his credentials in corporate governance and financial services leadership.
His academic background reflects a strong blend of business and analytical expertise. Ocitti holds a Master of Business Administration (MBA) from Heriot-Watt University's Edinburgh Business School in Scotland and a Bachelor of Statistics (Honours) from Makerere University. He is also an Associate of the Chartered Institute of Arbitrators in the United Kingdom.
Announcing the appointment, Stanbic Uganda Board Chairman Baker Magunda expressed confidence that Ocitti possesses the leadership qualities required to guide the institution into its next stage of development.
"Mark steps into this role at a pivotal time to lead Stanbic Uganda into its next chapter. We are confident in Mark's ability to accelerate our purpose of driving Uganda and Africa's growth. He is a seasoned executive with nearly 30 years of leadership experience across the FMCG, telecommunications and energy sectors in Uganda, East and Central Africa," Magunda noted.
Magunda also paid tribute to Karuhanga for his leadership and contribution to the organisation, saying his stewardship had positioned the business strongly for future expansion and success.
The appointment has also received backing from Standard Bank Group's regional leadership. Dr Joshua Oigara, the Group's Regional Chief Executive for East Africa, highlighted Uganda's growing importance within the region and described Ocitti as the right leader to unlock new opportunities.
"East Africa is one of the most dynamic and fast-growing regions on the continent, and Uganda is at the heart of that opportunity. Mark is an exceptional leader whose commercial acumen, strategic clarity and passion for excellence position him to help Stanbic Uganda accelerate this potential and drive continued growth and innovation," Oigara said.
For Ocitti, the appointment represents an opportunity to build upon a strong foundation while steering the institution toward new achievements.
Speaking after the announcement, he praised the culture and workforce at Stanbic Uganda, describing its people as one of the organisation's greatest strengths.
"I am honoured to take on this responsibility at such an exciting time for Stanbic Uganda. What stands out most about this business is its people - talented, committed colleagues who show up every day for its clients," Ocitti said.
The incoming chief executive also acknowledged the work done by his predecessor and expressed his commitment to sustaining the bank's momentum.
"I applaud Francis Karuhanga and the team for building a strong foundation, and I look forward to working with everyone across the organisation to continue delivering value to our clients, shareholders and the communities we serve."
As he prepares to assume office, industry observers will be watching closely to see how his diverse corporate experience translates into leadership within one of Uganda's most influential financial institutions.
Stanbic Uganda is a member of Standard Bank Group, Africa's largest banking group by assets, and remains a key player in Uganda's banking sector, serving individuals, businesses and institutions across the country.