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During the 1970s and 1980s Standard Chartered gradually reduced its shareholding, and sold its remaining 39% stake in Standard Bank Group in 1987, transferring complete ownership of the holding company to South African investors and in particular Liberty Life (and its affiliates), with the latter being the company's major shareholder until 1999.
The bank's name was changed from Grindlays Bank International (Kenya) Limited to Stanbic Bank Kenya Limited in 1993. [10] At the point of the merger, the bank was 96.31% owned by Standard Bank through Stanbic Africa Holdings Limited (SAHL) and the balance of 3.69% held by the Government of Kenya.
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Simpiwe Tshabalala (born 15 December 1967), also Simphiwe Tshabalala, commonly known as Sim Tshabalala, is a South African lawyer, businessman and corporative executive. He is the Group CEO, of the Standard Bank Group, the largest banking group on the African continent, with total assets of more than ZAR:3.1 trillion (US$164.25 billion), as of June 2024.
Mweheire is the first Ugandan to head the bank since Standard Bank became majority shareholder in 2001. [5] [6] In 2020, Mweheire was appointed Regional Chief Executive for Eastern Africa (managing bank franchises in Kenya, Uganda, Tanzania, Ethiopia and South Sudan), for the Standard Bank Group, based in Nairobi, Kenya.
Liberty Life on a building in Sandton, South Africa. Liberty Holdings Limited is a South African financial services and property holding company that focuses on Insurance and Asset Management with registered head office in Johannesburg, South Africa at Liberty Centre, 1 Ameshoff St., Braamfontein.
[11] [13] In 2017 the bank was awarded a bancassurance licence from the Insurance Regulatory Authority, authorizing Stanbic Bank to sell insurance products to its customers and the public. [14] In February 2002, Standard Bank acquired 90 percent shareholding in the Uganda Commercial Bank, a government-owned retail banking operation with 65 ...
Barclays and Standard Chartered have had their annual shareholder meetings disrupted by protesters calling for the banking giants to stop investing in fossil fuels.