Title: Mumba Kalifungwa Assumes Leadership at Stanbic Bank Uganda

Patrick Mweheire (R) welcomes Mumba Kalifungwa as new Stanbic bank chief executive

Mumba Kenneth Kalifungwa has officially taken the helm as the Chief Executive Officer of Stanbic Bank Uganda, the country's largest financial institution by assets, revenue, and deposits. His appointment, which was first announced in December 2024, marks a significant step in the bank’s leadership.

Expressing his enthusiasm, Mumba shared, “I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, I look forward to leveraging this role to enhance leadership that creates a positive impact for our employees, customers, and the country at large.”

Patrick Mweheire, the regional Chief Executive for East Africa at Standard Bank, hailed Mumba's appointment as both timely and strategic. He highlighted Uganda’s economic resilience, particularly in the face of global economic challenges, and noted that infrastructure developments, including progress in the oil and gas sector, and improved trade prospects present numerous opportunities for collaboration and growth.

Francis Karuhanga, the CEO of Stanbic Uganda Holdings Limited (SUHL), expressed confidence in Mumba's ability to lead the bank effectively. He also thanked shareholders for their support during the leadership transition. “The appointment of a substantive CEO for the bank is a crucial milestone. We appreciate the continuous support of our stakeholders and look forward to further collaboration in driving Uganda’s growth,” Karuhanga stated.

Damoni Kitabire, the board chairman of Stanbic Bank Uganda, also praised the management team for its stability and resilience during the transition period, emphasizing the strength of the organization’s governance. "On behalf of the board, I welcome Mumba to Stanbic Bank Uganda. I also commend our management and staff for their unwavering commitment during this time," Kitabire concluded.