By Spy Uganda
Kampala: It’s yet another tough moment for DFCU Bank after its Chairman Board of Directors, Dr.Elly Karuhanga announced he is stepping down, just few days after the Bank’s PRO also threw in towel over yet to be known reasons.
Karuhanga joins NBS TV news anchor Rukh-Shana Namuyimba, who was Manager Communication and Events at the bank
Rukh-Shana threw in towel after holding the position for four and a half years when the bank was facing serous scandals, among them including the controversial acquisition of defunct crane bank.
Karuhanga announced his retirement during the 56th Annual General Meeting held last Friday at the Bank headquarters.
“I formally inform the shareholders as I have already informed the directors that I intend to retire early from the chairmanship of the board,” he reportedly stated.
He stepped down after stakeholders voted him for another two years as the chairman board of directors. Karuhanga gave a one-month notice ending September 30, 2021, for stakeholders to look for another person who will replace him as the chairman board of directors.
“I am very thankful that you kept giving me the opportunity every time I came up for reelection. I now must give way to younger people to come and save our bank,” he added.
Karuhanga previously chaired Uganda Soft Drinks Manufacturers Association board, Uganda Chamber of Mines & Petroleum, Development Finance Co. of Uganda Ltd., British American Tobacco Uganda Ltd and Director & Legal Counsel at Canmin Resources Ltd.
Elly Karuhanga is also on the board of Nile Breweries Ltd and Marasa Holdings Ltd. and Chairman for Uganda ThinkTank Foundation, President of The Rotary Club of Kampala, Senior Partner at Kampala Associated Advocates, National Social Security Fund Uganda, Chairman-Governing Council President at Alternative Dispute Resolution and Member of World Trade Law Association.