FORCE OF GOOD: Absa posts UGX41 billion profit, despite restructuring UGX260 bn loans and increased Covid-19 and rebranding costs Mumba Kalifungwa, Absa Uganda’s Managing Director, had all his 2020 odds, seemingly stacked against him. He took up office on 1st April 2020, just as the country was entering into total lockdown. For the Zambian banker, whose last posting had been as CFO in Botswana, this was his first time as Managing Director and in a new market. But that is not all. His bank was rebranding from the Barclays brand that Ugandans had known for over 90 years, to a new Absa brand. But going by the 2020 results, it looks like he just passed the test with flying colours, and the board Chairperson, Nadine Byarugaba, agrees.