What Stanbic expects of its new chief executive, Mumba
Mr Kenneth Mumba Kalifungwa
What you need to know:
- Mr Mumba who has been the managing director and chief executive at Absa Bank Uganda will replace Ms Anne Juuko
Stanbic Bank Uganda has announced Mr Kenneth Mumba Kalifungwa as its new chief executive whose term of office will start March 1, 2025.
"Mumba brings to our team nearly 30 years of post-qualification experience, 20 of which have been in the banking sector, mostly in senior leadership roles covering business development, risk management, strategy formulation and finance strategy in three African markets including Botswana, Zambia, and for the last five years- Uganda. We are confident that under Mumba's leadership the bank will continue to experience even more success as we stay committed to our purpose of driving Uganda's growth," reads part of the statement from the bank.
The announcement ends a troubled succession search that has run for almost 12 months at the country’s largest lender by assets and profitability.
Mr Mumba who has been the managing director and chief executive at Absa Bank Uganda will replace Ms Anne Juuko, who was early this year named to a regional position to head currency trading, based out of Nairobi.
Who is Mumba?
A Zambian national, Mumba qualified as an accountant and is a member of the Association of Chartered Certified Accountants. He holds a Master of Business Administration degree from the Heriot-Watt University Business School in Edinburgh, Scotland, and took over the running of Absa Bank Uganda on April 1, 2020.
His career started in accounting with Coopers and Lybrand (which today is PricewaterhouseCoopers) and the Zambia Revenue Authority. He switched to banking in 1995 and worked with Barclays Bank (later Absa Bank) of Zambia and Botswana before his posting to run the bank’s operation in Uganda.
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