KAMPALA, Uganda — Absa Bank Uganda has appointed David Wandera, a seasoned banking executive, as its interim managing director, the bank announced Monday.
Wandera, who brings more than 20 years of experience in the banking sector, is tasked with steering the bank through a transition period following the departure of its previous managing director, Mumba Kalifungwa.
Kalifungwa left to join Stanbic Bank Uganda as its chief executive officer.
Wandera’s appointment is seen as a strategic move to maintain stability and continuity at the bank, which is ranked third largest in Uganda by assets and profitability.
“David’s extensive experience and expertise in banking will be invaluable in leading the bank during this transition period,” said George Wesonga Opiyo, acting board chairperson.
Wandera previously held senior positions at Absa Bank Uganda, including executive director and head of markets.
He is a Chartered Accountant (FCCA-UK) and holds a Master’s degree in International Finance from the University of Leeds.
The bank’s board has initiated a process to appoint a substantive managing director.
Absa Bank Uganda has a loan book worth UGX1.78 trillion, customer deposits of UGX 2.9 trillion, and a profit after tax of UGX146 billion as of December 2023.
Alternative Headlines:
- Absa Bank Uganda Names Interim Managing Director
- Veteran Banker Wandera Takes Reins at Absa Uganda
- Absa Bank Uganda Appoints Wandera as Interim Chief
