David Wandera has been appointed as the interim Managing Director of Absa Bank Uganda, taking over from Mumba Kalifungwa, who recently assumed the role of CEO at Stanbic Bank Uganda. This leadership change was confirmed on Monday as the bank gears up for a new chapter.

Wandera brings more than 20 years of experience in the banking sector, with a proven record in financial management, leadership, and implementing strategic initiatives. He is recognized for his expertise in treasury operations, market management, financial risk assessment, and accounting, all of which will guide the bank during this transitional phase.

Previously, Wandera held the roles of Executive Director and Head of Markets at Absa Bank Uganda. In these capacities, he delivered strong results while building solid partnerships with key stakeholders. His leadership has been marked by a focus on innovation and efficiency.

Wandera is a Chartered Accountant (FCCA-UK) and holds a Master’s degree in International Finance from the University of Leeds. His extensive qualifications and industry insights make him a reliable choice to oversee the bank’s operations during this period.

Absa Bank Uganda, currently ranked as the third-largest financial institution in the country by assets and profitability, reported UGX 1.78 trillion in loans, UGX 2.9 trillion in customer deposits, and UGX 146 billion in profit after tax as of December 2023.

Acting Board Chairperson George Wesonga Opiyo expressed confidence in the ongoing recruitment for a permanent Managing Director, stating, “The bank is fully dedicated to ensuring a seamless leadership transition and maintaining its strong performance.”