In a year defined by bold strategy and disciplined execution, David Wandera has emerged as one of Uganda’s most consequential banking leaders.

In May 2025, David Wandera made history as the first Ugandan Managing Director of Absa Bank Uganda in its 90-year presence in the country.

His appointment was more than symbolic. It ushered in a new era of bold strategy, disciplined execution, and record-breaking performance.

2025 Financial Scorecard

• Net profit: UGX 222bn ↑ 25.1% YoY
• Total revenue: UGX 637bn ↑ 16.6% YoY
• Customer deposits: UGX 4.66tn ↑ 46.4% YoY
• Total assets: UGX 7.03tn ↑ 29.4% YoY
• Net interest income: UGX 360bn (from UGX 311bn)
• Loan book growth: 7.3% (quality-focused)

This performance cemented Absa Uganda’s position among East Africa’s top-tier banks.

Strategic Discipline

Wandera’s leadership emphasized deliberate growth:

• Deposits surged by 46.4%, reflecting customer trust.
• Lending grew at a measured 7.3%, prioritizing asset quality over aggressive expansion.
• Over 40% of the loan book was directed to trade, manufacturing, and agriculture — the backbone of Uganda’s economy.

Career Journey

• Deloitte & Touche -Early career accountant
• Bank of Uganda -Credit risk & financial accounting
• EADB, Citibank, Stanbic -Treasury, derivatives & corporate finance
• Absa Bank Uganda -Executive Director → Managing Director (May 2025)

Credentials

• FCCA (UK): Fellow Chartered Certified Accountant
• MSc International Finance: University of Leeds, UK
• 24+ years’ experience: Commercial, development & central banking

What to Watch in 2026

Absa Uganda has been approved by Bank of Uganda to acquire Standard Chartered Uganda’s retail and wealth management units.

Integrating this portfolio while sustaining momentum will be Wandera’s defining challenge and opportunity.

David Wandera’s story is one of historic firsts, disciplined growth, and sector-focused impact. His leadership not only strengthens Absa Uganda’s market position but also contributes to Uganda’s broader economic transformation.