Absa Bank Uganda Appoints David Wandera as Interim Managing Director

Absa Bank Uganda has announced the appointment of David Wandera as its interim Managing Director, succeeding Mumba Kalifungwa who recently took on the role of Chief Executive at Stanbic Bank. With over 20 years of experience in the banking sector and a proven track record in leadership, strategic initiatives, and financial management, Wandera brings extensive expertise to guide Absa Bank through this transition period.

Wandera’s deep understanding of treasury and markets management, accounting, and financial risk management positions him exceptionally well for this interim leadership role. He has previously served as Executive Director and Head of Markets at Absa Bank Uganda, consistently delivering excellent results and building valuable relationships with key stakeholders.

“Wandera is a Chartered Accountant (FCCA-UK) and holds a Master’s in International Finance from the University of Leeds. His extensive experience and qualifications assure us that the bank’s leadership remains in capable hands,” said Absa Bank in a statement.

Absa Bank Uganda is currently ranked as the third largest bank in the country by assets and profitability, boasting a loan book worth UGX 1.78 trillion, UGX 2.9 trillion in customer deposits, and a profit after tax of UGX 146 billion as of December 2023. According to Acting Board Chairperson George Wesonga Opiyo, the process of appointing a permanent Managing Director is underway, with a focus on ensuring a smooth transition to new leadership.

“We are pleased to announce that David Wandera has been appointed interim Managing Director of Absa Bank Uganda. With over 20 years of banking experience, David brings strong leadership and expertise to guide us through this transition. The process of appointing a substantive Managing Director is underway, and we are committed to ensuring a seamless transition while maintaining the exceptional service and operational excellence you expect from us. We look forward to continuing to empower Uganda’s growth under his leadership,” said Wesonga.