Stanbic Bank Uganda appoints Keneth Kalifungwa as new Chief Executive Officer.
Drake Nyamugabwa
Stanbic Bank Uganda has appointed seasoned banking executive Mumba Kenneth Kalifungwa as its new Chief Executive Officer, effective March 1, 2025. Kalifungwa, who has been serving as Managing Director of Absa Bank Uganda, brings nearly three decades of experience to the role, including 20 years in senior banking positions across Botswana, Zambia, and Uganda, where he has specialized in business development, risk management, and financial strategy.
According to a statement from the bank, the appointment follows a regulatory approval to fill the vacancy left by Anne Jjuuko's promotion to Eastern African regional Head of Global Markets for Standard Bank Group.
Mumba’s credentials include an MBA from Herriot Watt University and fellowships with prestigious accounting institutions, positioning him to lead Stanbic Bank's continued growth in Uganda's banking sector.
The partly reads “He brings 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.”
Mr. Patrick Mweheire, Standard Bank Group’s Regional Chief Executive for East Africa said they were 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,” Mweheire said.
Damoni Kitabire, the board chairman, Stanbic Bank Uganda said the bank has enjoyed a strong growth journey in recent years and are confident that under Mumba’s leadership they will continue to experience even more success.
Speaking about the new appointment Mumba said he was ready for the new challenge.
“Together with the other leaders across the organization, 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.
