Mumba Kalifungwa takes over as new CEO of Stanbic Bank

Kampala, (UG):- Uganda’s largest commercial bank, Stanbic Bank, on Monday officially welcomed Kenneth Mumba Kalifungwa as he started his term as the bank’s new Chief Executive Officer (CEO). His appointment, initially announced in December 2024, marks a strategic leadership shift for the bank.

Stanbic Bank Board Chairman Damoni Kitabire commended the management team for maintaining stability throughout the leadership transition. He welcomed Mr. Mumba to the bank and applauded the staff for their dedication during the period of change.

“On behalf of the Board, I welcome Mr. Mumba to Stanbic Bank Uganda. I also commend our management team and the entire staff for the resilience they demonstrated throughout this transition,” Mr. Kitabire noted.

Francis Karuhanga, the Chief Executive of Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda, expressed confidence in Mr. Mumba’s leadership.

“The bank is our anchor subsidiary, and securing a substantive CEO is a significant milestone. I extend my gratitude to our stakeholders and shareholders who supported this process and invite them to partner with us in our continued efforts to drive Uganda’s growth,” Mr. Karuhanga stated, acknowledging the seamless transition process and calling upon stakeholders to work closely with the bank in advancing Uganda’s economic growth.

“I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this role presents an opportunity to enhance leadership that creates a positive impact for our employees, customers, and the country as a whole,” Mr. Mumba said in remarks during the unveiling ceremony held at the Bank’s head offices in Kampala.

Formerly Managing Director at Absa Bank Uganda Ltd, Mr Mumba expressed enthusiasm for his new role and emphasized his commitment to driving growth and innovation within the bank.

With nearly 30 years of post-qualification experience, including two decades in the banking sector, Mr. Mumba brings extensive expertise in financial management, strategy, and leadership.

His appointment is expected to strengthen Stanbic Bank’s market position and drive its commitment to customer-centric banking, digital transformation, and economic growth.