KAMPALA, Uganda — Mumba Kenneth Kalifungwa has taken over as chief executive of Stanbic Bank Uganda, the country’s largest lender.
Kalifungwa’s appointment was announced in December, and he brings nearly 30 years of experience in banking and finance to the role.
“I am delighted to join Stanbic Bank Uganda,” Kalifungwa said. “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, Standard Bank’s regional chief executive for East Africa, welcomed Kalifungwa’s arrival, citing Uganda’s resilient economy amid global challenges.
“Uganda’s economy continues to demonstrate remarkable resilience amid global economic challenges,” Mweheire said. “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, expressed confidence in Kalifungwa’s leadership.
“The bank is our anchor subsidiary, and securing a substantive chief executive is a significant milestone,” Karuhanga said. “I extend gratitude to our stakeholders and invite them to partner with us in our continued efforts to drive Uganda’s growth.”
Stanbic Bank Board Chairman Damoni Kitabire commended the management team for maintaining stability during the transition.
“On behalf of the board, I welcome Mumba to Stanbic Bank Uganda,” Kitabire said. “I also commend our management team and the entire staff for the resilience they demonstrated throughout this transition.”
