Mumba Kalifungwa Takes Over as Chief Executive at Stanbic Bank Uganda

Mumba Kenneth Kalifungwa has officially taken over as Chief Executive of Stanbic Bank Uganda, the country’s largest lender by assets, revenue, and deposits. His appointment was first announced in December last year.

Expressing his enthusiasm for the new role, Mumba stated, “I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this position presents an opportunity to enhance leadership that drives positive impact for our employees, customers, and the nation.”

Patrick Mweheire, Standard Bank’s Regional Chief Executive for East Africa, welcomed Mumba’s arrival, describing it as timely.

“Uganda’s economy continues to show remarkable resilience despite global economic challenges. Strong macroeconomic stability, infrastructure investments—including developments in the oil and gas sector—and improved trade prospects provide opportunities for us to collaborate with stakeholders in deploying our resources effectively, fostering growth, and creating sustainable livelihoods for Ugandans,” Mweheire said.

Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), expressed confidence in Mumba’s leadership while appreciating the support of shareholders during the transition.

“The bank is our anchor subsidiary, and securing a substantive Chief Executive is a major milestone. I extend my gratitude to our stakeholders who have supported this process and invite them to continue partnering with us in driving Uganda’s economic growth,” Karuhanga noted.

Stanbic Bank Board Chairman, Damoni Kitabire, commended the management team for ensuring stability throughout the transition period, emphasizing the bank’s strong governance framework.

“On behalf of the Board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management team and the entire staff for their resilience during this transition,” Kitabire concluded.