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Kampala, Uganda | JULIUS BUSINGE | Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the nation’s largest lender by assets, revenue, and deposits, the lender said in a statement issued today – March 3.
His appointment was first announced in December of last year. Mumba, who succeeds Anne Juuko, brings nearly 30 years of professional experience, including over 20 years in senior roles across the banking sector in Botswana, Zambia, and Uganda. Before his new role, Mumba served as the Managing Director of Absa Bank Uganda Limited.
“I am delighted to join Stanbic Bank Uganda,” Mumba is quoted in the statement, “With the support of my colleagues and stakeholders, this new role presents an opportunity to enhance leadership that creates a positive impact for our employees, customers, and the country as a whole.”
Patrick Mweheire, the Standard Bank Regional Chief Executive for East Africa, welcomed Mumba’s arrival as timely.
He said: “Uganda’s economy continues to demonstrate remarkable resilience amid global economic challenges. The strong macroeconomic stability, infrastructure investments—including developments in the oil and gas sector—and improved trade prospects present us with opportunities to collaborate with stakeholders to deploy our resources effectively, facilitating growth and creating sustainable livelihoods for Ugandans.”
Francis Karuhanga, chief executive of Stanbic Uganda Holdings Limited (SUHL), expressed confidence in Mumba’s leadership and thanked shareholders for their support during the transition.
“The bank is our anchor subsidiary, and securing a substantive Chief Executive is a significant milestone. I extend gratitude to our stakeholders and stakeholders who have supported this process, and I invite them to partner with us in our continued efforts to drive Uganda’s growth,” Karuhanga said.
Stanbic Bank Board Chairman Damoni Kitabire commended the management team for maintaining stability during the transition period, underscoring the organization’s governance resilience.
“On behalf of the Board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management team and the entire staff for the resilience they demonstrated throughout this transition,” Kitabire said in a statement.
