By  Ivan Mubiru

Dfcu Bank is set to unveil Mathias Katamba as its new Managing Director.

Katamba who quit his position as Managing Director at Housing Finance Bank last week will replace Juma Kisaame whose tenure at the bank expires in December this year.

“Mr Katamba will be unveiled as the next MD of dfcu Bank,” source told Watchdog Uganda.

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

Katamba’s entry at the troubled bank has 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 Kisaame.

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 controversial 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.

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, was sold at Sh200billion.

Katamba is expected to clean up dfcu’s tainted image during his tenure.