By Mubiru Ivan

Troubled dfcu Bank has finally landed on Juma Kisaame’s perfect replacement as the bank’s Managing Director.

The name making rounds is Housing Finance’s Managing Director Mathias Katamba, who has been courted to take over at the helm of dfcu, after Kisaame’s tenure expires in December, our sources have revealed.

Early this month, the dfcu bank started a search for the next MD after the current boss Kisaame revealed that he was not going to renew his contract.

The move to poach Katamba could hit William Sekabembe, who serves as the bank’s Chief of Business and Executive Director, harder than anyone else at the institution.

A few months ago, Sekabembe expressed his intentions to resign from the troubled bank after landing a top job at KCB.

However, in September he decided to stay put job at the current job, with the hope of taking over from Kisame.

“I would like to give my appreciation for the recent Managing Director job offer with KCB Limited. However, after careful evaluation, I regrettably decline the position,” he wrote in a letter dated September 5 to KCB.  “Despite the very encouraging upward mobility described within the organisation, I think it would be in my best interest to stay employed in my current position at dfcu Bank for personal reasons.”

Sources say Sekabembe was supposed to be elevated to the position of MD at dfcu early last year, but Kisaame was given more time to manage dfcu’s acquisition of Crane Bank. The CEO Magazine on Wednesday reported that Sekabembe had been given a 47 per cent salary increase and was set to earn Shs56m up from Shs38m.

Dfcu under Mr Kisaame took over Crane Bank in a deal which made it the second largest bank in the country bank by assets. But the controversy surrounding its acquisition has since painted a picture of an institution with serious corporate governance concerns.

Bank of Uganda, according to a recent Auditor General report to Parliament, gave away Crane Bank in a deal that shows conflict of interest, and fears of possible fraud or corruption.

To make matters worse, the bank valued at Shs1.2 trillion by its owners, but sold at Sh200billion, ended up going at almost free to dfcu.

And dfcu’s tainted image has been the reason why the bank has been finding it so hard to find Kisaame’s replacement.

Who is Katamba?

Katamba, a youthful banker and economists, has been the managing director of Housing Finance bank, co-owned by the NSSF and the government of Uganda, is said to be in good books with top executives of the Central Bank and therefore he can be accepted candidate.

Katamba studied at the University of Greenwich, in England, graduating with the degree of Bachelor of Arts in Economics and obtained his Master of Science in Financial Management from the University of East London, also in the UK. He also holds the much needed postgraduate Diploma in Public Relations, awarded by the Chartered Institute of Public Relations (CIPR), another UK institution. That is on top of attending advanced leadership courses from several institutions, including Harvard Kennedy School and Wharton Business School, according to wikipedia.

Katamba has been in the banking industry for about a decade, working at among others, Pride Microfinace and Finance Trust Bank. He had however worked at other banks including Orient Bank, Postbank and Barclays.