Rachel Rwakatungu joints Absa Bank Uganda as new Credit Director

Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda Ltd has announced the appointment of Rachel Rwakatungu (above) as the new Credit Director of the bank. Rwakatungu is a seasoned banker with a wealth of experience in the banking and financial services industry, business, and regulatory risk. She brings significant sector experience to her new role and has also worked in Tanzania and South Africa.

Prior to joining Absa Bank Uganda Ltd, Rwakatungu worked as Senior Credit Manager at Stanbic Bank Uganda Limited where she was responsible for the end-to-end risk management process, credit approval, and steering risk.

She also worked at Standard Chartered Bank in various capacities such as Senior Credit Analyst, Relationship Manager under Corporate Banking, and the Head of the Client Service Group.

As the Credit Director, Rwakatungu will be responsible for overseeing the credit risk management function of the bank. This includes developing and implementing credit risk policies, procedures, and strategies, as well as ensuring compliance with regulatory requirements.

Speaking on her appointment, she said, “I am excited to be joining Absa Bank Uganda Ltd at such a crucial time in its growth journey. I look forward to working with the team to drive the bank’s credit management function, and to ensure that we continue to provide our customers with innovative and tailored credit solutions.”

Rwakatungu holds a Master’s degree in Business Administration from Eastern And Southern Africa Management Institute (ESAMI), Postgraduate Diploma in Financial Management from Uganda Management Institute (UMI), various credit certifications including Credit Skills Assessment Program, Corporate Credit Curriculum, and a Bachelor of Statistics from Makerere University.

She is also certified in Valuation and Corporate Strategy from the Erasmus University of Rotterdam, Negotiation from the University of Michigan, and International Trade Finance from the London Institute of Banking and Finance.

Mumba Kalifungwa, the Managing Director of Absa Bank Uganda Ltd, said, “We are delighted to welcome Rachel Rwakatungu to our team. Her vast experience and expertise in credit risk management will be invaluable as we continue to grow and strengthen our position in the market. We are confident that she will play a key role in driving our credit risk management function to new heights.”