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Stanbic Bank Uganda has confirmed that it has appointed Mumba Kenneth Kalifungwa as its Chief Executive and, by extension, a member of the Board of Directors, effective March 1, 2025.
According to a media statement released by Stanbic this morning, Mumba’s appointment has already received the required regulatory approvals.
Daily Monitor, Uganda’s leading independent daily, last week broke the news that Mumba, who is the current Absa Bank Uganda Managing Director, was due to be announced for the role.
“Mumba brings to our team nearly 30 years of post-qualification experience, 20 of which have been in the banking sector, mostly in senior leadership roles covering business development, risk management, strategy formulation and finance strategy in three African markets including Botswana, Zambia, and for the last five years—Uganda,” reads a statement from Stanbic.
“We are delighted to welcome Mumba to the Standard Bank Group—in particular, to the Stanbic Bank Uganda team. His extensive experience in the banking sector and understanding of this market, coupled with his leadership expertise, makes him ideal to lead our business in Uganda. The Board is confident that his strategic thinking, business acumen, and passion for excellence will continue to drive growth, innovation, and customer satisfaction,” added Patrick Mweheire, Standard Bank Group’s Regional Chief Executive for East Africa.
Government inches closer to finalising oil refinery deal with Alpha MBM Investments Damoni Kitabire, Board Chairman, Stanbic Bank Uganda, said that the bank, which “has enjoyed a strong growth journey in recent years”, was “confident that under Mumba’s leadership, the bank will continue to experience even more success as we execute on our commitment to drive Uganda’s growth.”
Commenting on the role, Mumba said, said that he was “pleased with the opportunity to embark on this new challenge”.
“Together with the other leaders across the organisation, I am looking forward to building on the bank’s solid foundation and contributing to the purpose of driving Uganda’s growth, creating even more shared value for all stakeholders,” he said.
Mumba holds a master’s degree in business administration (MBA) from Herriot Watt University (Scotland) and is a Fellow of the Association of Chartered Certified Accountants (United Kingdom) and the Association of International Certified Professional Accountants (AICPA, UK).