This week, Stanbic Bank Botswana has announced two key leadership appointments at executive level for the business. Morufhi Masikara has been appointed Client Coverage Head, Core Markets, Standard Bank Group, and Lebea Sephuma has been appointed Head of Business & Commercial Banking at Stanbic Bank Botswana. Both appointments take effect on 1 October 2026 and reflect the Bank’s continued focus on developing strong local leadership while strengthening its ability to serve clients and drive sustainable growth, both in country and into wider Group level roles.
Stanbic Bank Botswana Chief Executive, Chose Modise, described the appointments as a marker of both individual achievement and institutional strength. “Morufhi and Lebea’s appointments are a proud moment for Stanbic Bank Botswana. Both are accomplished leaders whose careers have been built on consistent performance, deep client insight and a strong commitment to sustainable growth. Morufhi’s progression into this important Group role speaks to the calibre of talent we are developing here in Botswana and our ability to contribute leadership and expertise across the continent. Lebea’s appointment step into the leadership of Business & Commercial Banking gives us great confidence in the future of our business here at home. He understands our clients, our market and the role we need to play in helping Botswana’s businesses grow. We congratulate them both and look forward to the impact they will make in their respective roles.”
Morufhi Masikara joined Standard Bank Group as a Graduate Trainee in 2007 and has built a distinguished career spanning more than 18 years across Investment Banking, Risk Management, Transaction Products and Services, and Client Coverage. Her experience includes a strategic secondment to Standard Bank Namibia, and, most recently, leading Corporate and Investment Banking at Stanbic Bank Botswana. in this role, she combined deep technical expertise with strong commercial and client leadership, developing a broader perspective of banking value chain and the ability to craft and translate strategy into client and business outcomes. She now brings this breadth of experience, together with a deep understanding of African markets, to a Group-wide mandate.
Masikara is widely recognised within the Group for her strategic leadership, commercial acumen and command of the banking value chain, qualities that position her to shape client coverage priorities across Core Markets at a pivotal time for the business. Beyond her commercial leadership, she has been a strong advocate for talent development, women’s advancement and social impact. Her contributions include active involvement in the Stanbic Bank Graduate Development Programme, elevateHER – a Pan African leadership and women empowerment programme – as well as her commitment to children’s rights through The SOS Children’s Trust.
Lebea Sephuma, who currently serves as Head of Global Markets at Stanbic Bank Botswana, will take the helm of Business & Commercial Banking portfolio. Through this role, Sephuma will lead the strengthening of relationships with business clients, supporting entrepreneurs and established enterprises, and connecting them to the Bank’s financial solutions, expertise and wider Standard Bank Group network across Africa. Sephuma began his journey with Stanbic Bank in 2003 as an FX trader, quickly rising to become Head of Trading by 2008. His ambition took him to South Africa, where he spent five years leading a Front Office system rollout and managing Money Markets and Fixed Income for Southern and Central Africa. This global experience was further enriched by his role as Head of Global Markets in Eswatini, where he drove market growth and innovation.
In his current role, Sephuma has led the Bank’s financial markets business and worked closely with clients across Foreign Exchange, Fixed Income and related financial solutions. He has also championed greater financial literacy and participation in Botswana’s financial markets, including supporting initiatives aimed at exposing young Batswana to investing and capital markets. In September 2020, Sephuma returned to Botswana, bringing with him a wealth of international expertise.
Commenting on the appointments, Stanbic Bank Botswana Head of People & Culture, Pinkie Douglas, said the progression of both leaders represents an important moment for the Bank. “This is what growth looks like for us. We want to grow our business, grow our clients and, importantly, grow our people. We are proud to see Botswana-grown talent continue to take on greater leadership responsibilities, both within our local business and across the wider Standard Bank Group. It reflects the strength of the people we have, the leadership pipeline we continue to build and our focus on creating opportunities for our people to grow and make an impact. Both appointments speak strongly to our Purpose. Botswana is our home, we drive her growth, and Africa is our home, we drive her growth.”
The two appointments come as Botswana marks 60 years of Independence and reflect Stanbic Bank Botswana’s continued investment in developing local talent, strengthening succession pipelines and creating opportunities for Batswana leaders to make an impact both at home and across the continent.
