Mumba Kalifungwa takes over as Stanbic Bank Uganda’s new CEO

Mumba Kenneth Kalifungwa has officially stepped into the role of Chief Executive at Stanbic Bank Uganda, the country’s biggest financial institution by assets, revenue, and deposits.

His appointment, first announced in December last year, marks a new leadership chapter for the bank.

Expressing his enthusiasm for the role, Mumba emphasised the significance of teamwork and stakeholder collaboration in driving positive change.

“I am honoured to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, I look forward to strengthening leadership that benefits our employees, customers, and the nation,” he said.

Patrick Mweheire, Standard Bank’s Regional Chief Executive for East Africa, described Mumba’s appointment as well-timed, given Uganda’s economic trajectory.

“Despite global economic uncertainties, Uganda continues to demonstrate resilience. Strong macroeconomic fundamentals, infrastructure investments—particularly in oil and gas—and improving trade prospects provide opportunities to work with stakeholders. By deploying our resources effectively, we can help foster growth and improve livelihoods,” Mweheire noted.

Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), welcomed Mumba’s leadership and acknowledged shareholders for their support.

“Securing a substantive Chief Executive is a critical milestone for the bank. I appreciate our stakeholders for their role in this process and encourage continued collaboration as we work towards Uganda’s development,” Karuhanga stated.

Meanwhile, Stanbic Bank Board Chairman Damoni Kitabire praised the bank’s leadership team for ensuring stability during the transition and reaffirmed confidence in the institution’s governance.

“On behalf of the Board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management team and staff for their resilience and commitment throughout this transition,” Kitabire said.

Francis Karuhanga, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), welcomed Mumba’s leadership and acknowledged shareholders for their support.