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TodaySunday, May 10, 2026

ABsa Uganda

(L–R): David Wandera, Managing Director; Michael Segwaya, Chief Financial Officer; and Keith Kalyegira, Board Chairman—leaders at the centre of Absa Uganda’s 2025 breakout performance, steering the bank through a period of transition to deliver accelerated growth, stronger financials, and a clear strategic shift toward scale and impact.
(L–R): David Wandera, Managing Director; Michael Segwaya, Chief Financial Officer; and Keith Kalyegira, Board Chairman—leaders at the centre of Absa Uganda’s 2025 breakout performance, steering the bank through a period of transition to deliver accelerated growth, stronger financials, and a clear strategic shift toward scale and impact.

Facts Behind the 2025 Figures: The Year Absa Uganda Shifted Gears—Growth, Discipline, and a New Leadership Era

Absa Bank Uganda’s 2025 results were not just strong—they were unexpectedly strong for the moment in which they were delivered. In a year defined by leadership transition, shifting market dynamics, and underlying
April 17, 2026
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David Wandera, Managing Director of Absa Bank Uganda — the first Ugandan to lead the bank in its over 90-year history — whose first full year at the helm delivered a 25% surge in profits, 46% growth in deposits, and a balance sheet that crossed the UGX 7 trillion mark, signalling a new phase of scale, discipline, and momentum.
David Wandera, Managing Director of Absa Bank Uganda — the first Ugandan to lead the bank in its over 90-year history — whose first full year at the helm delivered a 25% surge in profits, 46% growth in deposits, and a balance sheet that crossed the UGX 7 trillion mark, signalling a new phase of scale, discipline, and momentum.

25% Profit Growth, 46% Deposit Surge, 29% Asset Expansion: Inside David Wandera’s Breakout Year at Absa Uganda

When David Wandera officially stepped into the role of Managing Director of Absa Bank Uganda in May 2025, the appointment marked far more than a routine leadership transition—it signaled a defining moment
April 15, 2026
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Standard Bank’s Sim Tshabalala, Absa Group’s Kenny Fihla, MTN Group CEO Ralph Mupita, SanlamAllianz’s Heinie Werth, Nedbank Group’s Jason Quinn, and Old Mutual’s Jurie Strydom represent more than individual corporate leaders. Collectively, they sit at the helm of institutions controlling hundreds of billions of dollars in assets, deposits, premiums, and market capitalisation across Africa. Their strategic decisions influence capital flows, credit creation, insurance penetration, and digital finance ecosystems across multiple markets. As they pivot attention toward East Africa, they are not merely expanding footprints; they are reshaping regional banking, telecom, insurance, and investment architecture for the next phase of continental growth.
Standard Bank’s Sim Tshabalala, Absa Group’s Kenny Fihla, MTN Group CEO Ralph Mupita, SanlamAllianz’s Heinie Werth, Nedbank Group’s Jason Quinn, and Old Mutual’s Jurie Strydom represent more than individual corporate leaders. Collectively, they sit at the helm of institutions controlling hundreds of billions of dollars in assets, deposits, premiums, and market capitalisation across Africa. Their strategic decisions influence capital flows, credit creation, insurance penetration, and digital finance ecosystems across multiple markets. As they pivot attention toward East Africa, they are not merely expanding footprints; they are reshaping regional banking, telecom, insurance, and investment architecture for the next phase of continental growth.

South Africa’s capital is moving north-east, and East Africa is increasingly the preferred landing strip

South African capital, long dominant in Southern Africa and deeply embedded across the continent, is now moving decisively north-east. Kenya, Uganda, Tanzania, and Rwanda are no longer peripheral growth outposts. They are
February 13, 2026
Sanjay Rughani faces his defining test as Standard Chartered Uganda exits retail banking: turning a leaner, corporate-focused strategy into sustainable profits, disciplined returns, and lasting relevance in a tougher market.
Sanjay Rughani faces his defining test as Standard Chartered Uganda exits retail banking: turning a leaner, corporate-focused strategy into sustainable profits, disciplined returns, and lasting relevance in a tougher market.

Sanjay Rughani and the Test of a Leaner Standard Chartered Bank

Last week’s signing between the Government of Uganda and Standard Chartered Bank offered a reminder of the institution’s enduring strength. The €641.1 million (UGX 2.75 trillion) financing package, covering power transmission, strategic
February 9, 2026
As Absa Uganda enters consolidation, 2026 will test David Wandera’s leadership, integration skill, and ability to sustain momentum, carrying national expectations as the bank’s first Ugandan Managing Director forward decisively.
As Absa Uganda enters consolidation, 2026 will test David Wandera’s leadership, integration skill, and ability to sustain momentum, carrying national expectations as the bank’s first Ugandan Managing Director forward decisively.

All Eyes on David Wandera: Why 2026 is a Critical Year for Absa

There is a saying that when you are entrusted with the responsibility of representing your country, you must give your very best, because you are carrying the weight and expectations of an
February 8, 2026
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A photo montage of Absa’s David Wandera and Standard Chartered Bank’s Sanjay Rughani. Absa’s acquisition of Standard Chartered’s retail and wealth business reshapes Uganda’s banking sector, boosting deposits, expanding assets, and strengthening retail depth as regulators begin reviewing one of the industry’s most significant restructurings.
A photo montage of Absa’s David Wandera and Standard Chartered Bank’s Sanjay Rughani. Absa’s acquisition of Standard Chartered’s retail and wealth business reshapes Uganda’s banking sector, boosting deposits, expanding assets, and strengthening retail depth as regulators begin reviewing one of the industry’s most significant restructurings.

Absa–Standard Chartered Wealth and Retail Business Acquisition Deal Enters Regulatory Review as Sector Impact Becomes Clear

Less than a year after Standard Chartered announced its plan to exit its Wealth and Retail Business (WRB) segment, the long-anticipated transfer to Absa Uganda has entered a decisive phase. On 24
November 21, 2025
Kenny Fihla, Absa Group CEO, Absa Bank Africa, Absa Group strategy, Absa Uganda, African banking leadership, Infrastructure finance in Africa, Kenny Fihla Strategy for Absa, CEO East Africa Magazine, Africa Business News, Business News, Kenny Fihla Absa leadership interview, How Absa is driving growth in Africa, Banking sector priorities in Uganda, Role of banks in Africa’s infrastructure, Customer-centric banking strategy Absa, Future of banking in Sub-Saharan Africa, African banking trends 2025, Absa Africa growth strategy, Africa's Largest Banks,
Absa Group CEO Kenny Fihla speaks during an exclusive interview with CEO East Africa Magazine in Kampala, where he outlined his strategic priorities for the Group, emphasized customer experience as a differentiator, and reaffirmed Absa’s long-term commitment to unlocking Africa’s growth.

EXCLUSIVE Q&A | Kenny Fihla: Steering Absa Group Into Its Next Growth Chapter

Thank you very much for the opportunity to speak with you. I’ve been following some of the remarks you’ve made since your appointment in June, and one recurring theme that stands out
July 28, 2025
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