Absa Bank Uganda has announced the appointment of David Wandera as its interim managing director.
The position of managing director fell vacant after Mumba Kalifungwa was snatched by Stanbic Bank Uganda and consequently appointed as their new CEO.
To fill this void, Absa said it had banked on Wandera to steer the them on an interim basis.
Wandera brings over 20 years of experience in the banking sector, with a strong track record in leadership, strategic initiatives, and financial management.
He has a deep understanding of treasury and markets management, accounting, and financial risk management, making him exceptionally well-equipped to lead the bank during this transition period.
He has most recently held the positions of Executive Director and Head of Markets, in which roles he has consistently delivered excellent results and built valuable relationships with key stakeholders.
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.
Absa acting board Chairperson, George Wesonga Opiyo said, “The process of appointing a substantive Managing Director is underway is underway and the bank will ensure there is a smooth transition to the new leadership.”
Absa Bank Uganda Limited is currently ranked the third largest bank in Uganda by assets and profitability with a loan book worth shs1.78 trillion, shs2.9 trillion worth of customer deposits, and a profit after tax of shs146 billion as at December 2023.
