A new chapter of empowerment and aggressive market expansion is being written in Uganda’s financial sector. David A. Wandera, a local son with Pan-African expertise, has made history as the first Ugandan to be appointed Managing Director and CEO of Absa Bank Uganda.
Wandera’s rise to the helm of the 90-year-old institution is more than a personnel change; it signals a historic and symbolic shift, one where global strategy is fused with deep local understanding, affirming Africa’s capacity to lead its own complex financial transformation.
Executive Who Leads with Local Acumen
At just 45, Wandera embodies a new generation of dynamic African executives. He takes over the top seat with two decades of experience spanning risk management, investment banking, and financial markets across multiple African jurisdictions, including Kenya, Tanzania, and Zambia.
His technical credentials (FCCA, MSc, BCom) are complemented by his lived experience of the Ugandan market, a duality that positions him perfectly to steer Absa’s strategic growth.
His tenure, beginning in May 2025, has already been marked by decisive action, including the landmark acquisition of Standard Chartered Uganda’s retail and Wealth business (pending regulatory approval).
“We are not just acquiring portfolios. We are inheriting relationships and building futures,” Wandera stated, underscoring that the deal is a strategic move to deepen market share, broaden customer offerings, and redefine the future of personal and digital banking in Uganda.
The Three Pillars of Absa’s Growth Agenda
Under Wandera’s stewardship, Absa Bank Uganda is transitioning from a traditional bank to a partner in progress, focusing its strategy on three high-impact areas that directly align with Uganda’s national development objectives:
Digital Banking and Innovation First
Wandera is championing a radical overhaul toward a digital-first mandate. This involves accelerating fintech integration, perfecting the user experience, and developing cutting-edge products that enhance efficiency and accessibility.
The goal is clear: to ensure the bank’s offerings are fully customised for the modern, mobile-savvy Ugandan consumer and entrepreneur.
Scaling Wealth Management and Investment
The acquisition of Standard Chartered’s portfolio instantly transforms Absa’s capacity in the high-net-worth space. Wandera is poised to significantly scale the bank’s investment products, insurance solutions, and advisory services, making Absa the go-to partner for wealth creation and preservation in the region.
Championing Inclusive Finance
Aligning with national goals, such as the Parish Development Model (PDM), Absa will intensify its focus on SME growth, youth-led enterprises, and women in business. This commitment to inclusive finance recognises that banking is fundamentally about unlocking individual potential and turning aspirations into tangible socio-economic achievements.
Vote of Confidence in Ugandan Leadership
Wandera’s appointment and his bold execution of the Standard Chartered acquisition serve as a powerful vote of confidence to both the Bank of Uganda and the Ministry of Finance, Planning and Economic Development (MoFPED).
For the regulator (Bank of Uganda), it confirms that local banking talent possesses the expertise to manage complex cross-border deals and deliver regulatory compliance at scale.
For the government, it signals that a top-tier financial institution, under Ugandan leadership, is structurally aligned to expand financial inclusion and reinforce national initiatives that drive Vision 2040.
Wandera’s Banking Journey
Before being appointed Managing Director at Absa Uganda in May 2025, Wandera had also served as Interim Managing Director at the same bank. He had earlier served as Executive Director, Head of Financial Market at Absa Bank between 2021 and 2024.
But it is important to note that before joining Absa Bank, Wandera had already earned his stripes across several critical leadership roles in various banks.
Between July 2017 and November 2019, Wandera was Head of Markets at Barclays Bank before it rebranded to Absa Bank. His role included covering all foreign exchange, fixed income, derivatives and Interest rates sales and trading.
But before joining Barclays Bank, Wandera had been serving as the Head of Global Market Sales at Stanbic Bank, a position he held from August 2013 to May 2017.
Earlier on, he had served at Citibank as the Head Corporate Sales and Derivatives Marketing, and before that, he was at the East African Development Bank, where he served as Project Officer/Acting Corporate Finance Officer.
David Wandera’s leadership is intentional: it is about building institutions that build people. As he steers Absa into this new era, his story becomes one of national relevance; a Ugandan at the helm of a major bank, executing one of the country’s biggest intra-sector acquisitions, and championing a brand that is digital, inclusive, and proudly Ugandan.
Why He’s a Captain of Industry
The Publicist East Africa recognises David Wandera as a Captain of Industry in Financial Leadership and Transformation, not just for breaking historical ceilings, but for reimagining what a modern Ugandan banking executive should represent.
He’s young, local, dynamic and most importantly, intentional about building institutions that build people.
He is championing a brand that prioritises customer experience, youth skilling, and digital transformation.
This is what leadership for the future of finance looks like.
As Absa Bank Uganda eyes a larger market share and deeper impact, all signs suggest this new era under Wandera will be defined by courage, creativity, and confidence.