The Absa group which has rebranded some of the former Barclays Bank units in Africa, has appointed a Zambian Banker Kenneth Mumba Kalifungwa as a new managing director – MD for Absa Bank Uganda.
The appointment of Kenneth Mumba Kalifungwa, a former executive director of finance at Absa bank in Botswana was occasioned by the departure of Nazim Mahmood. However, the Bank is confident that his appointment will drive Absa Group’s strategic objective of growing, stabilising and advancing financial systems in Uganda.
And Absa Bank Zambia Head of Marketing and Corporate Relations Mato Shimabale told the Zambian Business Times – ZBT on March 25, 2020, that Absa values global and cross-geographical exposure as much as it values the understanding of the local market hence has a clear imperative to operate as a truly African bank with global scalability, while prioritizing purposeful continental collaboration.
“We have no doubt that Mumba’s experience across several African markets, deep knowledge of the bank, as well as his demonstrated strategic and operational vision will be invaluable as Absa firms its position on the continent,” He told ZBT in an emailed response.
Shimabale added that Absa will benefit from Kalifungwa’s experience across several African markets, his deep knowledge of the bank and his demonstrated strategic and operational vision as the bank continue to drive its growth strategy in the markets it operates.
Kalifungwa is a Chartered Accountant and seasoned organisational leader having over 24 years post-qualifying experience across banking, public and private sectors. He is currently a fellow of the Chartered Institute of Management Accountants (CIMA), the Association of Chartered Certified Accountants (ACCA), Botswana Institute of Chartered Accountants (BICA) Zambia Institute of Chartered Accountants (ZICA).
Kalifungwa also holds an MBA from Herriot Watt University, Scotland and has attended various senior leadership development programs over the years.
Absa Zambia is headed by renowned Zambian female banker and business leader, Mizinga Melu. She has managed the Barclays to Absa rebranding in Zambia which has contributed to the Pan Africa re-branding of subsidiaries in seven African countries – Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November 2019.
The bank has since termed this change a milestone that brings it closer to realising its ambition as a leading African bank to support growth and development on the continent and beyond. “We are now united under a single brand in 12 countries in Africa.
