Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the country’s largest financial institution by assets, revenue, and deposits.
His appointment, first announced in December last year, marks the beginning of a new leadership chapter for the bank. Expressing enthusiasm about his new role, Mumba emphasized the importance of collaboration and innovation in driving progress.
“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.
He noted that with the support of colleagues and stakeholders, his leadership would focus on creating a lasting positive impact for employees, customers, and the Ugandan economy. He reaffirmed his commitment to steering the bank towards continued excellence while strengthening its role in the country’s financial landscape.
Patrick Mweheire, the Standard Bank Regional Chief Executive for East Africa, highlighted the significance of Mumba’s arrival at a time when Uganda’s economy continues to show resilience despite global economic uncertainties.
He pointed to the country’s strong macroeconomic stability, ongoing infrastructure projects, and promising developments in the oil and gas sector as key opportunities for financial institutions to contribute to national growth. He stressed that the bank remains dedicated to working with stakeholders to deploy resources strategically, facilitating economic expansion and improving livelihoods.
“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.
Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited, expressed confidence in Mumba’s ability to guide the bank into its next phase of growth. He acknowledged the role of shareholders and other stakeholders in ensuring a smooth leadership transition, emphasizing that securing a substantive Chief Executive was a major milestone.
He encouraged continued partnerships in the bank’s efforts to support Uganda’s development, urging all stakeholders to remain engaged as the institution works towards achieving long-term goals.
“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.
Stanbic Bank Board Chairman Damoni Kitabire praised the management team for maintaining stability and operational efficiency throughout the transition.
He commended the resilience demonstrated by the entire staff, highlighting the strength of the bank’s governance structures in ensuring seamless leadership changes. Welcoming Mumba on behalf of the board, he expressed optimism about the bank’s future under his leadership.
“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 concluded.
As the new Chief Executive takes charge, Stanbic Bank Uganda remains focused on its mission to provide innovative financial solutions, foster economic growth, and empower individuals and businesses across the country.
With a strong leadership team in place, the institution is well-positioned to navigate evolving market dynamics while reinforcing its position as Uganda’s leading financial powerhouse.
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