Kenneth Mumba Kalifungwa is a Zambian accountant and corporate executive, currently serving as the Managing Director and CEO of Absa Bank Uganda.
However, a report by Daily Monitor Uganda indicates that he is set to join Stanbic Bank as CEO.
Kalifungwa has over 20 years of experience in both the private and public sectors.
He holds an MBA and has completed several leadership programs, including the Advanced Management Program at IMD Business School.
Education
Kalifungwa holds a bachelor’s degree and an MBA from Heriot-Watt University Business School in Edinburgh, Scotland.
Additionally, he is a Chartered Certified Accountant recognized by the Association of Chartered Certified Accountants.
Throughout his career, he has undertaken various courses in banking and management to enhance his expertise.
Early career
Kalifungwa began his professional journey in 1995 at Coopers and Lybrand, where he gained foundational experience in accounting and auditing.
His initial role allowed him to develop a strong understanding of financial principles and practices that would serve as the bedrock for his future career.
Following his time at Coopers and Lybrand, he took on the position of senior accountant at the Zambia Revenue Authority.
In this capacity, he was involved in tax administration and compliance, further honing his financial acumen and understanding of public sector finance.
Later career
Kalifungwa then joined Barclays Bank Zambia, where he served as Chief Financial Officer.
In this role, he was responsible for overseeing the bank’s financial operations, including budgeting, forecasting, and financial reporting.
His leadership contributed significantly to the bank’s strategic financial planning and operational efficiency, establishing him as a key figure in the organization.
In 2015, Kalifungwa transitioned to Absa Bank Botswana, where he continued to build on his expertise in the banking sector.
His focus during this period was on financial management and strategic initiatives that enhanced the bank’s performance in the region.
In April 2020, Kalifungwa became the Managing Director and CEO of Absa Bank Uganda.
Under his guidance, the bank has focused on expanding its digital services, improving customer experience, and driving financial inclusion.
He has led several key initiatives aimed at enhancing the bank’s market position, emphasizing the importance of technology in banking services to meet evolving customer needs.
Achievements
Kalifungwa has achieved significant milestones throughout his career, particularly as the Managing Director and CEO of Absa Bank Uganda.
Under his leadership, the bank’s assets were valued at approximately $1.19 billion as of December 2023, reflecting his strategic vision and operational effectiveness.
Kalifungwa has received several accolades, including recognition as one of Uganda’s most outstanding CEOs in 2023 by Business Times Uganda.
He is also a fellow of multiple professional accounting bodies, including the Chartered Institute of Management Accountants and the Association of Chartered Certified Accountants.
Additionally, Kalifungwa has been actively involved in community initiatives, emphasizing education and health.
He has championed programs like the DREAMS initiative to support vulnerable adolescents in Uganda, showcasing his dedication to social responsibility alongside his corporate achievements.
