Double Tragedy For SeKabembe As DFCU Replaces Juma Kisaame With Housing Finance’s Katamba!

Double Tragedy For SeKabembe As DFCU Replaces Juma Kisaame With Housing Finance’s Katamba! an accessible web community

By Our reporter

Troubled DFCU Bank has finally landed on Juma Kisaame’s perfect match, TheSpy Uganda reliably reports!

The name making rounds for the next top job is Housing Finance’s Managing Director Mathias Katamba, who, according to our sources at the Bank has been courted as the most suitable to take up the top job as DFCU’s next managing Director, replacing Juma Kisaame whose tenure expires in December 2018.

This, ofcourse is bad news for DFCU’s current Executive Director and Chief of Bussines Mr.William Sekabembe who had been earlier on tipped to replace his boss as the next managing Director.

A few months ago, Mr.Sekabembe expressed his intentions to resign from the troubled bank after landing a top job at KCB. In fact KCB went ahead and gave him the top job,as the managing Director KCB Uganda branch  after promising him a hefty salary.

Ditched: Mr.William Sekabembe who now hangs in balance after he lost both KCB and DFCU top jobs.

However, in September 2018, DFCU decided to double Sekabembe’s salary and promised to make him the Next MD replacing outgoing Juma Kisaame. This juicy deal was too good for Sekabembe to ignore, subsequently he decided to stay put up at his job, with the hope of taking over from Kisaame!

“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. 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,” read part of his response letter to KCB Bank dated September 5.

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. Other sources revealed on Wednesday that Sekabembe had been given a 47% salary increment and was set to earn Shs56m per month 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 caused furry in the public painting it as 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.

Exiting in December 2018: Juma Kisaame

DFCU’s with a tainted image has faced a mountainous journey in finding a replacement for Juma Kisaame. Our sources revealed that the leaked US$ 40M found on Kisaame’s Bank of Africa account is the mother of all his current dilema, even his bosses are wondering how he can be richer than US former president Barrack Obama.

But Who is Katamba?

Mathias Katamba is a Ugandan economist, business executive, banker and entrepreneur. He is the Managing Director and Chief Executive Officer of Housing Finance Bank, a commercial bank, co-owned by the Ugandan government and the National Social Security Fund (NSSF).

Unlike others, Mr.Katamba is said to be in good books with top executives of the Central Bank and therefore his appointment can be accepted without hurdles.

Katamba studied at the University of Greenwich, in England, graduating with Bachelor of Arts in Economics degree and there after obtained his Masters 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. He has also attended advanced leadership courses from several institutions, including Harvard Kennedy School and Wharton Business School.

Katamba’s experience in the banking Industry spans for about a decade, working at among others, Pride Microfinace and Finance Trust Bank. Other banks he worked with include Orient Bank, Post Bank and Barclays bank.









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