Stanbic Bank Uganda at a Crossroads: Can Mumba Kalifungwa Reignite the Blue Spark of Yesteryears? For over a decade, Stanbic Bank Uganda ruled on scale—leading in profits, deposits, and assets. But as rivals gain speed, new CEO Mumba Kalifungwa faces a defining test: Can he shift the bank from scale to speed and reignite its growth leadership in an increasingly competitive and fast-moving banking landscape, the CEO East Africa Magazine's Muhereza Kyamutetera writes.

Damoni Kitabire, Chairman of Stanbic Bank Uganda; Mumba Kalifungwa, the newly appointed Chief Executive; Patrick Mweheire, Regional Chief Executive for East Africa at Standard Bank Group; and Francis Karuhanga, CEO of Stanbic Uganda Holdings Limited (SUHL), during Kalifungwa’s official unveiling. His appointment comes at a pivotal time for Stanbic—still the most profitable bank in Uganda, but facing slowing growth in core fundamentals like deposits and lending. Kalifungwa, credited with transforming Absa Uganda into a high-growth performer, now faces the challenge of reigniting Stanbic’s growth momentum and defending its leadership amid intensifying competition from both top-tier rivals and fast-charging mid-tier challengers.