He attended local primary and secondary schools, before being admitted to university for his bachelor's degree.
[3] At the time he was appointed CEO of Absa Bank Uganda, Kalifungwa was the chief financial officer (CFO) at Absa Bank Botswana Limited, a position he served in since 2015.
[5] On 1 April 2020, Kalifungwa replaced Nazim Mahmood, who held the CEO position at Absa Bank Uganda, in acting capacity since July 2019.
[3] On 1 March 2025 he replaced Samuel Mwogeza at Stanbic Bank Uganda Limited, who was the acting chief executive since 1 April 2024.
He previously served as chairman of the board audit committee of the Zambia Institute of Mass Communication.