Ivan Mubiru

Mathias Katamba has been appointed dfcu Bank’s new Chief Executive Officer.

Katamba, who quit his position as Managing Director at Housing Finance Bank last week replaces Juma Kisaame who has doubled as Managing Director and CEO.

Kisame’s turbulent tenure at the bank expires in December.

Katamba appointment, which becomes effective on January 2, 2019 was announced via local press.

The Board of Directors of dfcu limited (“the Company” informs its shareholders and the general public that Mr Mathias Katamba has been appointed the new Chief Executive Officer of its subsidiary dfcu Bank Limited effective 2 January, 2019,” the statement signed by Dr Elly Karuhanga, the Board Chairman dfcu Limited reads in part.

Katamba was at the helm of Housing Financefor five years and previously served as CEO, Finance Trust Bank for five years and has held other senior positions in the financial services sector. He currently serves as Chairman of the Uganda Institute of banking and Financial services and is a director at UAP Old Mutual General Insurance Uganda Limited, Private Sector Foundation and Central Broadcasting Services.

With over 15 years of experience, 12 of those in management, Katamba seems like the right pick to lead the institution that has come under scrutiny ever since it acquired Crane Bank Ltd, in a deal that, according to a recent Auditor General report to Parliament, shows conflict of interest, and fears of possible fraud or corruption.

“His first role will be to clean the tainted image of the second largest bank by assets,” a banker who preferred to remain anonymous told Watchdog Uganda.

By 2017, dfcu Bank was the second-largest commercial bank in Uganda, with total assets of UGX:3.03 trillion and shareholders’ equity of UGX:508.8 billion.

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

Observers had expected William Sekabembe, who serves as the bank’s Chief of Business and Executive Director, to take over from Kisame after staying put, amidst courting from KCB.

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

Subsquently, dfcu handed Sekabembe a 47 per cent salary increase that saw his pay cheque bumped up to Shs56m from Shs38m.