Stanbic Bank Uganda has confirmed the appointment of Kenneth Mumba Kalifungwa as the new Chief Executive and by extension, a member of the Board of Directors, effective March 1, 2025. This appointment follows required regulatory approvals, the financial institution said.
To Stanbic Bank, Mumba takes nearly 30 years of post-qualification experience, 20 of which have been in the banking sector, mostly in senior leadership roles covering business development, risk management, strategy formulation and finance strategy in three African markets including Botswana, Zambia, and for the last five years—Uganda.
Patrick Mweheire, Standard Bank Group’s Regional Chief Executive for East Africa, said: “We are delighted to welcome Mumba to the Standard Bank Group—in particular, to the Stanbic Bank Uganda team. His extensive experience in the banking sector and understanding of this market, coupled with his leadership expertise, makes him ideal to lead our business in Uganda. The Board is confident that his strategic thinking, business acumen, and passion for excellence will continue to drive growth, innovation, and customer satisfaction.”
Damoni Kitabire, Board Chairman, Stanbic Bank Uganda, said: “The bank has enjoyed a strong growth journey in recent years; we are confident that under Mumba’s leadership the bank will continue to experience even more success as we execute on our commitment to drive Uganda’s growth.”
Upon his appointment as incoming Chief Executive Mumba said: “I am pleased with the opportunity to embark on this new challenge. Together with the other leaders across the organisation, I am looking forward to building on the bank’s solid foundation and contributing to the purpose of driving Uganda’s growth, creating even more shared value for all stakeholders.”
Mumba holds a master’s degree in business administration (MBA) from Herriot Watt University (Scotland) and is a Fellow of the Association of Chartered Certified Accountants (United Kingdom) and the Association of International Certified Professional Accountants (AICPA, UK).
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