Absa Bank Uganda has announced the appointment of David Wandera as its new Managing Director, effective 5 May, 2025, following regulatory approval from the Bank of Uganda.
He succeeds Mumba Kalifungwa who joined Stanbic Bank, and therefore, becomes the first Ugandan to hold the position in the bank’s more than 90-year history in Uganda.
David is an accomplished banker with over 20 years of diverse experience in business leadership, financial management, strategy and stakeholder engagement.
Prior to this appointment, he served as Executive Director charged with the responsibility of delivering operational efficiencies within Absa Bank Uganda.
He played a critical role in driving the bank’s market share growth, consolidating its position as one of the top three banks in the country in both revenue and profitability, making him uniquely positioned to lead Absa Bank Uganda into its next phase of growth.
David is a Chartered Accountant (FCCA – UK) and holds a Master’s in International Finance from the University of Leeds. His strong academic foundation and practical experience reinforce the Board’s confidence in his ability to provide visionary, results-driven leadership.
Commenting on the appointment, Keith Kalyegira, the Board Chairman, expressed confidence in David’s leadership.
Former Marsh Uganda Chief Executive, Alexander Mukasa, Replaces Gary Corbit as SanlamAllianz Life Insurance Head“David brings to this role a deep understanding of the evolving needs of our customers, coupled with a proven track record of leadership, integrity, and innovation. The Board is confident that under his stewardship, Absa Bank Uganda will continue to strengthen its market position, drive meaningful growth, and deliver long-term value to all our stakeholders.”
David Wandera, the new Managing Director, also shared his vision for the bank, noting that, his appointment came at such a pivotal time during the bank’s growth journey.
“I am inspired by the strength of our legacy and excited about the opportunities that lie ahead. Together with our exceptional team, I am committed to deepening customer trust, accelerating innovation, and driving inclusive growth. My leadership will be anchored on integrity, collaboration, and a relentless focus on delivering shared value to our customers, communities, and shareholders,” he said.
The appointment aligns with Absa Uganda’s strategic ambition to accelerate growth in key areas such as digital banking, SME support, customer-centric innovation, and inclusive finance.
The bank remains focused on leveraging its strong capital position, local expertise, and regional strength to drive long-term value creation in Uganda’s dynamic financial services landscape.
The Board and entire Absa Uganda team has welcomed David to his new role and look forward to working with him to empower Africa’s tomorrow.
