Stanbic Bank Tanzania has announced the appointment of Derick Lugemala as its new chief finance and value officer (CFVO).
Derick, an accomplished finance professional with over a decade of experience in financial strategy, analysis, and reporting, steps into the role to oversee the bank’s financial operations and value-driven initiatives.
With a proven track record in senior leadership positions, Derick’s appointment underlines Stanbic Bank’s dedication to strengthening its financial strategy and operational excellence. Before taking on this role, Derick served as the general manager of finance at Bank of Africa Tanzania for three years, where he successfully led critical financial strategies and transformation programmes.
Derick is no stranger to Stanbic Bank Tanzania, having previously worked with the institution in various capacities, including as head of finance for corporate and investment banking (CIB) and as global market/treasury product control manager. His extensive experience at Stanbic Bank provides him with invaluable insights into the organisation’s objectives and operations.
Beyond Stanbic Bank, Derick has held notable positions at Tanzania Agricultural Development Bank, where he was director of finance, treasury & resources mobilisation, and at KPMG East Africa, where he worked as an audit in-charge. His broad expertise spans business strategy, financial planning, and treasury management, equipping him to drive Stanbic Bank’s growth and profitability.
Academically, Derick holds a master’s degree in professional accounting and finance from the University of London. He is a certified public accountant), with credentials from the National Board of Accountants and Auditors in Tanzania, and is also ACCA certified. He earned his bachelor of commerce in corporate finance and banking from the University of Dar es Salaam.
