Dfcu hooked Sekabembe to job with 47% raise to keep him off KCB bait
Four months ago, it was widely reported that William Sekabembe, the chief of business and executive director of dfcu Bank, was crossing over to KCB. However, in a U-turn, the dfcu number 2 has turned down the offer of KCB managing director, saying he will stay put. Crime24 has reliably established that the change of heart was warmed up by a raise from Shs38 million to Shs56 million in monthly salary
JACKPOT | William Sekabembe, the chief of business and executive director of dfcu Bank has had his salary increased by 47% in a bid to stop him from crossing over to Kenya Commercial Bank (KCB).
The increment means that Sekabambe’s salary starting September 2018 increased from Shs38,035,800 in August 2018 to Shs56,000,000.
It has been reported that Sekabembe was to cross to KCB at the end of September leading dfcu to fight to retain his service.
According sources who spoke on condition of anonymity for fear of reprisal, Sekabembe, upon receiving the juicy offer from KCB, served dfcu, a three-month notice that was due to expire at the end of September. Nonetheless, after negotiating and securing a bumper pay rise, Sekabembe had change of heart.
On September 5, he wrote to the Head of Human Resource at KCB Bank informing them of his U-turn.
“I would like to give my appreciation for the recent managing director job offer with KCB Bank Uganda but after careful evaluation, l regrettably decline the position, ” Sekabembe wrote in a letter under the subject, “Decline for the Job Offer of Managing Director at KCB Bank Uganda Limited”
:“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.”
Although it is not clear what salary and perks KCB was offering, Sekabembe who many believe is being groomed to take over from the unsettled Juma Kisaame.
Should that happen, Sekabembe is poised to earn even much more, should he become the dfcu Bank boss — at least if Kisaame’s current salary of Shs108,437,133 is anything to go by.
Kisaame in September was expected to depart from dfcu as its managing director but he was ordered to stay put after the bank’s Board of Directors rejected his resignation.
Though Kisaame had already made up his mind to leave, Elly Karuhanga, the dfcu Group chairman, convinced him to stay on as they are navigating the scandal that came with the acquisition of Crane Bank.
Dfcu has been riddled with scandals since it took over Crane Bank in January 2017 at Shs200 billion, a transaction that has landed Bank of Uganda (BoU) in much trouble