Zambian Banker Kenneth Mumba Kalifungwa is the new Managing Director of Absa Bank Uganda Limited.
“We are delighted to announce the appointment of Mumba Kalifungwa as Managing Director of Absa Bank Uganda Limited,” the company said in a statement.
Mr. Mumba replaces Nazim Mahmood.
The company said Mahmood would work with Mumba “over the coming weeks to ensure a smooth transition.”
Mumba has been the executive director of Finance at the subsidiary of Barclays Bank in Botswana.
Before that, he was the chief finance officer at the same bank, according to his LinkedIn profile.
“Absa has a clear imperative to operate as a truly African bank with global scalability, while prioritising purposeful continental collaboration. We have no doubt that Mumba’s experience across several African markets, deep knowledge of the bank, as well as his demonstrated strategic and operational vision will be invaluable as Absa firms its position on the continent,” said Absa Uganda interim Board Chairman, Nadine Byarugaba.
She added; “As Absa Bank Uganda, we have recently been through a historic and exciting brand and name change journey. We welcome Mumba to the organization; we are looking forward to working with him and the wider leadership team as we continue to drive our business for growth in Uganda.”
According to publically available information, Mumba is a Chartered Accountant, with over 24 years in the banking, public and private sectors.
He also holds an MBA from Herriot Watt University, Scotland and has attended various senior leadership development programs over the years.
“Absa Group strives at creating diverse and representative leadership teams across the business. We value global and cross-geographical exposure as much as we value the understanding of the local market,” said Saviour Chibiya, Regional MD for Absa Regional.
“We will benefit from Mr Kalifungwa’s experience across several African markets, deep knowledge of the bank and his demonstrated strategic and operational vision as we continue to drive our growth strategy in Uganda.”