Stanbic Bank Uganda has named Mumba Kenneth Kalifungwa as its new Chief Executive and Board member, effective March 1, 2025, the lender said in an emailed statement.
The appointment, follows regulatory approvals, marks a strategic leadership shift for the Standard Bank Group subsidiary in Uganda, positioning it to further drive growth and innovation in the local banking sector.
Kalifungwa brings nearly three decades of professional experience, including 20 years in senior leadership roles in banking across Botswana, Zambia, and Uganda. For the past five years, he has been deeply immersed in Uganda’s financial ecosystem, focusing on business development, risk management, strategy formulation, and financial planning.
“We are delighted to welcome Mumba to the Standard Bank Group and, specifically, to the Stanbic Bank Uganda team,” Standard Bank Group’s Regional Chief Executive for East Africa Patrick Mweheire said.
“His extensive sector experience, coupled with his deep understanding of this market and exceptional leadership skills, makes him well-suited to steer our business forward. The Board is confident that Mumba’s strategic vision and passion for excellence will catalyze further growth, innovation, and customer satisfaction,” Mweheire said.
Damoni Kitabire, Chairman of Stanbic Bank Uganda’s Board, echoed these sentiments, highlighting the bank’s trajectory of robust growth in recent years.
“Under Mumba’s stewardship, we anticipate building on our achievements as we work toward our commitment to drive Uganda’s growth,” he remarked.
Kalifungwa expressed enthusiasm for his new role, stating, “I am pleased with the opportunity to embark on this new challenge. Together with other leaders across the organization, I look forward to strengthening the bank’s solid foundation and enhancing our mission to create shared value for all stakeholders.”
Holding an MBA from Heriot-Watt University in Scotland, Kalifungwa is also a Fellow of the Association of Chartered Certified Accountants (UK) and the Association of International Certified Professional Accountants (AICPA, UK).
As Stanbic Bank Uganda transitions into its next chapter, Kalifungwa’s leadership is expected to play a pivotal role in navigating the competitive financial landscape while continuing to drive the institution’s mission of fostering economic growth in Uganda.
