Paul Bitature Muganwa Joins Stanbic Bank Uganda Board as Executive Director

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Stanbic Bank Uganda has officially received regulatory approval to appoint Mr. Paul Bitature Muganwa as an Executive Director, and will therefore be a member of the Stanbic Bank Uganda Board of Directors.

In addition to this role, Mr. Muganwa will continue serving as the Head of Corporate & Investment Banking (CIB), a position he has held for the past three years.

With this appointment, the number of Stanbic Bank Uganda Executive Directors rises to three, alongside Samuel Fredrick Mwogeza, Executive Director for Personal & Private Banking, and Mumba Kenneth Kalifungwa, the bank’s Chief Executive Officer.

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Board Chair Damoni Kitabire expressed confidence in Mr. Muganwa’s elevation, stating, “Paul’s appointment is a testament to our commitment to strong leadership and succession planning. His wealth of experience, coupled with exceptional performance and strategic vision, will continue to drive growth, and sustain CIB’s market leadership.”

Echoing this sentiment, CEO Mumba Kenneth Kalifungwa remarked, “Paul’s appointment marks an exciting chapter for Stanbic Bank Uganda. His deep expertise in banking, particularly in corporate finance, capital markets, and investment banking remains an asset to our ability to deliver innovative solutions for our clients.”

Throughout his tenure, Mr. Muganwa has led key initiatives such as Stanbic Bank Uganda’s “We Believe in Here” campaign, aimed at empowering local entrepreneurs and fostering economic growth.

He has also emphasized the importance of financial institutions partnering with businesses to boost job creation and domestic revenue, citing the bank’s strategic support for industry leaders like Roofings Group and the Madhvani Group.

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Mr. Muganwa’s banking experience spans nearly two decades across Uganda and South Africa. He has spent over 10 years at Stanbic Bank Uganda, where he previously held roles as Head of Investment Banking and Head of Corporate & Investment Banking.

Prior to joining the bank, he worked at Standard Bank Group in South Africa, specializing in capital markets, sovereign debt, and structured finance solutions for distressed corporate clients.

Mr. Muganwa is an alumnus of the University of KwaZulu-Natal, and holds a Bachelor of Commerce (Honours) degree in Finance and Economics.

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.