David Wandera has been appointed as the Interim Managing Director of Absa Bank Uganda, the bank announced on Monday.

Mr. Wandera brings over 20 years of experience in the banking sector, with expertise in leadership, strategic initiatives, and financial management.

He previously held the positions of Executive Director and Head of Markets at the bank, delivering excellent results and building relationships with key stakeholders.

Mr. Wandera replaces Mumba Kalifungwa, who has joined Stanbic Bank Uganda as its new Chief Executive Officer.

The bank’s Acting Board Chairperson, George Wesonga Opiyo, said the process of appointing a substantive Managing Director was underway, ensuring a smooth transition to new leadership.

Absa Bank Uganda is currently ranked the third largest bank in Uganda by assets and profitability, with a loan book worth UGX1.78 trillion, customer deposits worth UGX 2.9 trillion, and a profit after tax of UGX146 billion as at December 2023.

Mr. Wandera is a Chartered Accountant (FCCA-UK) and holds a Master’s in International Finance from the University of Leeds.

His extensive experience and qualifications assure us that the bank’s leadership remains in capable hands.