Stanbic Bank Uganda’s impressive half-year performance in 2025 is drawing attention to its new CEO, Mumba Kalifungwa, whose arrival in March appears to have injected fresh momentum into the institution at a critical time for Uganda’s economic recovery.
Under Kalifungwa’s leadership, the bank has recorded a 17% increase in Corporate and Investment Banking (CIB) lending and a 52% jump in customer deposits, reflecting renewed market confidence and strategic direction.
Known for his success at Absa Bank Uganda, where he implemented major financial reforms and strengthened institutional stability, Kalifungwa’s reputation as a transformative leader is being reinforced at Stanbic.
His appointment comes as Uganda emerges from post-pandemic economic challenges. According to the Uganda Bureau of Statistics, the country registered a GDP growth of 5.2% in 2024, signaling a steady rebound.
Stanbic’s latest results mirror this momentum, with notable gains across Personal and Business Banking (PPB) and Business Client Banking (BCB), sectors that support individual consumers and SMEs—key drivers of domestic economic activity.
The bank’s performance also reflects broader regional trends. A 2023 World Bank report highlighted how innovation and prudent risk strategies are reshaping Africa’s financial sector.
Stanbic’s focus on digital transformation, customer-centric services, and strategic credit expansion positions it firmly within that narrative.
Kalifungwa’s early impact demonstrates how leadership change, combined with favourable economic conditions, can reposition legacy institutions for growth and resilience in a dynamic market.
