Mumba Kalifungwa Takes Over As New CEO Of Stanbic Bank

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On Monday, Stanbic Bank officially welcomed Kenneth Mumba Kalifungwa as the new bank Chief Executive Officer (CEO). However, his appointment, initially announced in December 2024, marks a strategic leadership shift for the bank.

Mr. Kitabire told Uncovered Ug news reporters that “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.”

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.

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Furthermore, Damoni Kitabire, Stanbic Bank Board Chairman, commended the management team for maintaining stability throughout the leadership transition.

“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.

“I’m 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 eemphasisedhis commitment to driving growth and innovation within the bank.

In conclusion, with over 30 years of post-qualification experience, including two decades in the banking sector, Mr. Mumba brings extensive expertise in financial management, strategy, and leadership. READ MORE

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.