CPA David Wandera is a Ugandan finance professional with a career spanning over 24 years, cutting across regulatory, development finance and commercial banking, with experience in accounting, credit risk management, financial markets, corporate finance, treasury management and strategic leadership. He isthe Managing Director of Absa Bank Uganda. Prior to this appointment, he was the Executive Director and Country Head of Markets.
He is passionate about self-development and improving institutions. Outside of work, he is adventurous, seeking out new experiences through travel, reading and meeting people. He is a golfer and a former active runner. CPA Wandera also played field hockey for several years.
In this interview, CPA Wandera shares his career story with Caroline Nassuuna, Communications Officer, ICPAU.
2. Congratulations on your appointment as the first Ugandan Managing Director of Absa Bank Uganda! How does this make you feel?
It is incredibly humbling and a great honour, not just for me, but for all Ugandans aspiring for similar roles in large multinational organisations. It also comes with immense responsibility as a pioneer, because I set the standard for those that might come after me. It is a reminder for me and others that hard work does pay, and that it is important to do that with discipline and consistency. I did not get here out of my effort alone, I stand on the shoulders of many who have mentored, chastised and paved the way for me to be where I am today. I hope that my story will inspire others.
3. Can you take us through your career journey leading up to this appointment?
I began my career as an accountant at Deloitte and Touche and later moved to Bank of Uganda, handling accounting, financial and credit risk reporting. Driven by an interest in corporate finance and venture capital, I joined the East African Development Bank (EADB). It is after my time at EADB that I ventured into commercial banking at Citibank, Stanbic and later Absa where I did financial markets sales and trading, coupled with treasury and risk management. More recently, in addition to my financial markets role at Absa, as an Executive Director, I took on additional board and oversight roles, overseeing the operations and IT functions of the bank.
4. What shaped your leadership style?
Three things: First, my upbringing — I was brought up by my grandparents, mother and uncles, who all shaped me into the person I am, demanding the best from me, driving me to excel. One of my closest uncles encouraged me to become an accountant and that took hard work and discipline to accomplish chartered accountancy at an early age (straight out of university). Secondly, international and local exposure to various roles and environments (studying abroad for my master’s degree and working with large international organisations) provided me with valuable insights into front-line business practices, risk management and governance, broadening my world view. Lastly, my faith and personal values made me realise that for each role and each job, there is a purpose greater than oneself. I believe in leading with purpose, accountability and empathy.
5. What challenges did you face climbing the corporate ladder, and how did you overcome them?
Early on, I had to prove that being Ugandan or being young was not a limitation in a space often dominated by international expertise. At times, I was the only local leader in global discussions. Nevertheless, I stayed committed to growing, kept learning, and focused on delivering value. I also learned to build bridges across cultures and think strategically, never losing sight of the customer and community we serve.
6. How has your training as an accountant contributed to your success in banking and leadership?
Accounting is based on known and widely accepted principles, and because of this foundation, I developed a structured way of thinking, learnt to follow certain rules and question to see if things have been done the right way. Most importantly, the drive for precision (true and fair) motivated me to constantly check that I am doing things the right way and that my work will stand the test of scrutiny. This principle helped me to understand the importance of doing the right thing, even when it may not be popular, serving with integrity and shaping my leadership journey.
7. What advice would you give to young professionals aspiring to reach top executive positions?
Become an expert at what you do and make sure you are a source of knowledge for others who seek to do what you do. Be patient and give it time. Many times, young professionals are in a rush to reach the top and end up engaging in unethical behaviour or fail to build depth in their area of expertise. Take time to learn from those who have gone before you. Get a mentor. There is a saying, if you want to go fast, go alone, if you want to go far, go with others. Your reputation is key, guard it jealously. Make sure your actions align with how you want to be remembered or spoken of in your absence.
8. As an accountant, what legacy do you hope to leave at Absa and within the Ugandan financial sector?
I want to leave a legacy of growth and transformation. Growth, because I am passionate about the development of our financial markets and based on the work done so far as reflected in the Absa Africa Financial Index (AFMI) measure, which has seen Uganda improve from 10th to 4th position over the last 8 years. I believe there is still significant room for improvement in our capital markets, pensions and other areas and as a key participant, Absa can help drive the improvement of the Ugandan financial sector, both for the benefit of our customers, communities, and for generations to come. This goes hand in hand with transformation because, as agents of change, we must be the change we want to see in the world and I hope Absa can lead by example, through my tenure.
9. One book that changed your perspective
Maximise your potential by Myles Monroe. This book was given to me by one of my aunties at my graduation over 20 years ago. It revealed to me the fundamental truth that God has given every one of us unique talents and abilities that form the basis of our purpose and that we each should seek out our unique potential and utilise it to fulfill the purpose for which we are created. We should all die empty, having fully utilised what God has placed in each one of us and shared it with the world. We were created to grow and bear fruit, and in fulfilling our potential, we are fully living out God’s design and purpose for our lives.
10. A quote to live by?
I always remember an opening statement from a song by Bob Marley, ‘Emancipate yourself from mental slavery, none but ourselves can free our minds,’ which means, we are responsible for our own freedom and it starts in our minds. Grow your mind through developing your knowledge and guard your mind, for what you let in will determine how you will live your life.
11. How do you unwind after a long day?
Listening to music, exercising, playing golf, walking or running, just to get the body moving and allow my thoughts to be free. I also love reading or watching fiction, usually action which transports me to a different reality and helps me relax. I enjoy spending time with family, cooking, and trying out new recipes with my daughters.
