Reflecting on his first year as Managing Director of Absa Bank Uganda, David Wandera has offered a candid take on what truly drives business performance: listening to the real economy.
In a personal statement shared with the bank’s stakeholders, Wandera revealed that he has spent far more time in conversation with business owners than reviewing reports and spreadsheets.
“I’ve sat with entrepreneurs navigating the complexities of a shifting market to listen to how they are tightening operations, rethinking strategy, and finding the resolve to keep moving forward,” Wandera said. “Because that’s where the real story of our economy lives.”
Absa Uganda recently posted strong financial results, including a 25% rise in profit after tax. But Wandera insisted those numbers reflect something deeper: trust.
“They reflect customers who continue to choose and trust us, with deposits growing steadily as more individuals and businesses build with us,” he noted. He also pointed to deliberate decisions around capital deployment, balance sheet strength, and support for key sectors like trade and agriculture.
Beyond the balance sheet, Wandera highlighted what he calls the bank’s “social capital” —keeping girls in school, driving financial literacy, and championing sustainability. “We are proving that you can grow a business while growing as a force for good,” he said.
He summarised his philosophy simply: “Imperfect conditions, but progress in spite of them.” Wandera thanked the bank’s teams, customers, regulators, and partners for being part of the journey, adding that staying close to the real economy remains his singular focus.