Absa Group appoints Kenneth Mumba Kalifungwa as the Managing Director for Uganda

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UGANDA – Absa Group has appointed Kenneth Mumba Kalifungwa, the former Executive Director, Finance at Absa Botswana, as its Managing Director, for Uganda.

Mumba replaces Mr. Nazim Mahmood who has been heading the bank since June 2019. The company said Mahmood would work with Mumba over the coming weeks to ensure a smooth transition.

Nazim was there on a short contract to manage the rebranding process as Absa searched for a substantive replacement for Rakesh Jha whose contract ended mid-2019.

“We are delighted to announce the appointment of Mumba Kalifungwa as Managing Director of Absa Bank Uganda Limited,” the company said in a statement.

“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.

“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,” she added.

Mumba Kenneth Kalifungwa has over 23 years’ experience in Banking, Auditing, Taxation and Financial Management.

Before Botswana where he worked for four years and eight months, Mumba was the Chief Finance Officer at Absa Zambia (formerly Barclays Zambia).

He has over 23 years’ experience in Banking, Auditing, Taxation and Financial Management.

In Botswana, he was also a Board Member of the Chartered Institute of Management Accountants Africa Board. He previously served as Chairman of the Board Audit Committee of the Zambia Institute of Mass Communication.

Mumba holds a Master of Business Administration from Herriot Watt University of Scotland and is a fellow member of the Chartered Institute of Management Accountants (CIMA), the Association of Chartered Certified Accountants (ACCA) and Botswana Institute of Chartered Accountants (BICA). 

“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.”

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