Mumba Kalifungwa has officially taken over as Chief Executive of Stanbic Bank Uganda, the country’s largest lender by assets, revenue, and deposits.
His appointment, first announced in December last year, marks a significant leadership transition for the institution.
A New Era of Leadership
Expressing enthusiasm for his new role, Mumba emphasized his commitment to fostering positive change within the bank and the broader Ugandan economy.
“I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this new role presents an opportunity to enhance leadership that creates a positive impact for our employees, customers, and the country as a whole,” Mumba stated.
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Regional and Industry Endorsements
Patrick Mweheire, Standard Bank’s Regional Chief Executive for East Africa, welcomed Mumba’s appointment, highlighting Uganda’s economic resilience and the bank’s role in supporting national growth.
“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,” Mweheire said.
Leadership Transition and Stakeholder Confidence
Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), expressed confidence in Mumba’s leadership while acknowledging the support of shareholders 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 who have supported this process, and I invite them to partner with us in our continued efforts to drive Uganda’s growth,” Karuhanga remarked.
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Board’s Endorsement of Mumba Kalifungwa
Stanbic Bank Board Chairman Damoni Kitabire praised the management team for ensuring stability during the transition, underscoring the bank’s governance resilience.
“On behalf of the Board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management team and the entire staff for the resilience they demonstrated throughout this transition,” Kitabire noted.
As Mumba Kalifungwa steps into his leadership role, Stanbic Bank Uganda remains focused on its mission to drive financial inclusion, economic growth, and innovation in the banking sector.
