Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the country’s largest lender by assets, revenue, and deposits. His appointment was first announced in December last year.
“I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this role presents an opportunity to enhance leadership that makes a positive impact on our employees, customers, and the country,” Mumba said.
Patrick Mweheire, the Standard Bank Regional Chief Executive for East Africa, welcomed Mumba’s arrival, calling it timely.
“Uganda’s economy continues to show remarkable resilience despite global economic challenges. The strong macroeconomic stability, infrastructure investments—including developments in the oil and gas sector—and improved trade prospects offer opportunities to collaborate with stakeholders. We are committed to deploying resources effectively to drive growth and create sustainable livelihoods for Ugandans,” Mweheire said.
Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), expressed confidence in Mumba’s leadership and appreciated shareholders for their support during the transition.
“The bank is our anchor subsidiary, and securing a substantive Chief Executive is a major milestone. I extend gratitude to our stakeholders who supported this process and invite them to partner with us as we continue driving Uganda’s growth,” Karuhanga said.
Stanbic Bank Board Chairman Damoni Kitabire commended the management team for maintaining stability during the transition, highlighting the organisation’s governance resilience.
“On behalf of the Board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management team and staff for the resilience they showed throughout this transition,” Kitabire said.
