Absa’s Mumba Kalifungwa Appointed Stanbic Bank’s New Chief Executive

Stanbic Bank Uganda has appointed Mumba Kenneth Kalifungwa as its new Chief Executive, effective March 1, 2025, following regulatory approvals. Kalifungwa will also join the bank’s Board of Directors.

With nearly 30 years of post-qualification experience, including 20 years in the banking sector, Kalifungwa brings a wealth of expertise to his new role. 

His experience spans senior leadership positions in business development, risk management, strategy formulation, and finance strategy in Botswana, Zambia, and Uganda.

Patrick Mweheire, Standard Bank Group’s Regional Chief Executive for East Africa, welcomed Kalifungwa to the team, citing his extensive experience and leadership expertise as ideal qualities to lead the bank’s business in Uganda.

Damoni Kitabire, Board Chairman of Stanbic Bank Uganda, expressed confidence that Kalifungwa’s leadership would drive further growth, innovation, and customer satisfaction, building on the bank’s strong growth journey in recent years.

Kalifungwa, who holds an MBA from Herriot Watt University and is a Fellow of the Association of Chartered Certified Accountants, said he was pleased to take on the new challenge and looked forward to contributing to the bank’s purpose of driving Uganda’s growth and creating shared value for all stakeholders.

He replaces Anne Jjuuko who was appointed the Eastern African regional Head of Global Markets for Standard Bank Group in Nairobi.