Katamba replaces Kisaame as dfcu chief executive

BUSINESS | Development Finance Company of Uganda (dfcu) has appointed Mathias Katamba as the new chief executive officer starting January 2, 2019.

Katamba will replace Juma Kisaame and the bank hopes the change at the top of its leadership will end speculation about the course of direction it is taking.

Kisaame is departure does not come as a surprise to many because it had been revealed earlier that his contract is expiring at the end of December and will not be renewed.

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In a statement released Wednesday, dfcu chairman Jimmy Mugerwa, said Kisaame had played a key role in assisting Dfcu Limited, the holding company, to realign the shareholding that brought on board strategic partners such as Arise Investments BV.

“He (Kisaame) also led the most successful acquisitions in the banking industry in Uganda,” he said, highlighting Dfcu’s acquisition of assets and some liabilities of Global Trust in 2014 and later Crane Bank in 2017.

In the parting shot, Mugerwa showered Kisaame with praises which bordered on exaggerations. He said under Kisaame’s leadership, the bank had seen “ tremendous growth increasing shareholders value, key among which included dfcu becoming the second largest bank, which resulted in three-fold balance sheet growth to more than Shs3 trillion, a customer base of close to one million and a network of 65 branches.”

Katamba, who joins dfcu from Housing Finance Bank, has more than 15 years of finance and banking experience, 12 of which have been at executive level.

He has previously worked at Finance Trust Bank, Orient Bank, Postbank and Barclays Africa.

He holds a Masters in Financial Management from the University of London and has also attended the John F Kennedy School of Education at Harvard University and the Advanced Leadership Programme  at the University of Pennsylvania.

The bank, Mugerwa said, is confident that Katamba is well placed to continue the progress of dfcu by building on the successes of his predecessor to the benefit of all stakeholders.

This month, this website reported how William Sekabembe the Chief Business and Executive Director of dfcu had his salary increased by 47 percent 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’s said he was to cross to KCB at the end of September.

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