On March 1, 2025, Mumba Kenneth Kalifungwa officially assumed his role as the Chief Executive Officer (CEO) of Stanbic Bank Uganda, marking a significant leadership transition for one of Uganda’s leading financial institutions.
Professional Background and Experience
Mumba Kalifungwa brings nearly three decades of professional experience to Stanbic Bank Uganda, with 20 years dedicated to the banking sector in senior leadership roles. His extensive expertise encompasses business development, risk management, strategy formulation, and finance strategy across multiple African markets, including Botswana, Zambia, and Uganda.
Prior to joining Stanbic Bank Uganda, Kalifungwa served as the Managing Director of Absa Bank Uganda. His tenure at Absa was marked by significant achievements in steering the bank’s strategic direction and growth initiatives. Before his role in Uganda, he held the position of Chief Financial Officer at Absa Bank Botswana Limited starting in 2015 and previously served in the same capacity in Zambia.
Educational Qualifications and Professional Affiliations
Kalifungwa is a Chartered Accountant with over 24 years of post-qualifying experience across the banking, public, and private sectors. He holds a Master of Business Administration (MBA) from Heriot-Watt University in Scotland. His professional affiliations include Fellowship status with the Chartered Institute of Management Accountants (CIMA), the Association of Chartered Certified Accountants (ACCA), the Botswana Institute of Chartered Accountants (BICA), and the Zambia Institute of Chartered Accountants (ZICA).
Transition and Leadership Outlook
Kalifungwa succeeds Anne Juuko, who was promoted to the position of Eastern African Regional Head of Global Markets for Standard Bank Group in Nairobi earlier this year. The Board of Directors at Stanbic Bank Uganda expressed confidence in Kalifungwa’s ability to lead the bank, citing his broad experience and recent work in the country as pivotal factors in their decision. They believe his leadership will continue to drive the bank’s purpose of fostering Uganda’s growth.
In his new role, Kalifungwa is expected to leverage his extensive experience and strategic vision to steer Stanbic Bank Uganda towards sustained growth.
“Together, we look forward to unlocking new opportunities and driving progress for all stakeholders,”said the board.
Patrick Mweheire, the Standard Bank Regional Chief Executive for East Africa, welcomed Mumba’s arrival as timely.
“Uganda’s economy continues to demonstrate remarkable resilience amid global economic challenges. 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 (SUHL), expressed confidence in Mumba’s leadership and thanked shareholders for their support during the transition.
“The bank is our anchor subsidiary, and securing a substantive Chief Executive is a significant milestone. I extend gratitude to our stakeholders and stakeholders who have supported this process, and I invite them to partner with us in our continued efforts to drive Uganda’s growth,” Karuhanga remarked.