Head Consumer Banking & High Networth Clients StandardBank Malawi
Charity Mughogho is responsible for the end-to-end customer and Channel Strategy at StandardBank Malawi. She heads several units, including Products, Affluent and High Networth segments, Personal Banking, Coverage and Distribution (Branch and ATMs), CustomerExperience, Customer Call Centre, and Digital Banking -responsible for all digital channels.
Standard Bank Under Charity Mughogho Leadership
Under her leadership, the customer base has grown by 17 per cent, customer deposits by 17 per cent and loan portfolio by 47 per cent.
Charity Mughogho’s key areas of focus include risk management and cost management. Her contributions have led the bank to a year-on-year profit after-tax growth of 58 per cent and revenue growth of 32 per cent.
Between 2020 and 2021, Charity Mughogho led the bank in rolling out the first instant personal digital loan solution in the Malawi market with a loan tenor of up to 60 months and a maximum unsecured loan of MK15 million (USD14 thousand) which was the biggest amount offered digitally in the market. This helped to give easier access to unsecured loans to Malawian business owners who normally would have found it difficult to access such loans.
Competitors have followed in her steps, introducing similar products in 2022 –a testament to her industry impact.
She has contributed to industry advocacy following changes within the policy environment arising from directives of the Reserve Bank of Malawi.
Financial inclusion remains one of her key passions which she partially exercises in partnership with the Malawi Bankers Association and the industry regulator. One of her biggest contributions to the banking sector in Malawi is the onset of the Bancassurance business in the country, which she catalyzed.
Today, Standard Bank Bancassurance contributed to the bank’s non-interest income. Her community service includes mentoring students in secondary schools, colleges and universities. One of her initiatives has reached 100 students to inspire them on how to become useful citizens and balance their lives as students.