David Wandera Appointed As ABSA Bank Interim Managing Director

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David Wandera has been appointed as Absa Bank’s interim managing director, a seasoned banking executive. Additionally, the news was announced on Monday morning.

Wandera, who brings more than 20 years of experience in the banking sector, is tasked with steering the bank through a transition period following the departure of its previous managing director, Mumba Kalifungwa.

“David’s extensive experience and expertise in banking will be invaluable in leading the bank during this transition period,” said George Wesonga Opiyo, acting board chairperson.

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Furthermore, Kalifungwa left to join Stanbic Bank Uganda as its chief executive officer. Wandera’s appointment is seen as a strategic move to maintain stability and continuity at the bank, which is ranked third largest in Uganda by assets and profitability.

(FCCA-UK) and holds a Master’s degree in International Finance from the University of Leeds.The bank’s board has initiated a process to appoint a substantive managing director.

Absa Bank Uganda has a loan book worth UGX 1.78 trillion, customer deposits of UGX 2.9 trillion, and a profit after tax of UGX 146 billion as of December 2023.

In conclusion, Wandera previously held senior positions at Absa Bank Uganda, including executive director and head of markets.

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written by @enock katamba

enock katamba

Enock Katamba is a Ugandan Journalist and Founder of Uncovered UG, an independent digital news platform covering Uganda and international developments. He reports on politics, national affairs, entertainment, sports, business, education and other stories of public interest.