The speculation over the fate of DFCU Managing Director Juma Kisaame is over after the bank confirmed his exit in a press statement this morning. DFCU also confirmed former Housing Finance Managing Director Mathias Katamba as the new MD.
“The Board of Directors of DFCU Limited informs its shareholders and the general public that Mr. Juma Kisaame, has notified the company of his intention to retire as the Chief Executive Officer of its subsidiary DFCU Bank Limited,” the press statement signed by board Chairman Elly Karuhanga and the company secretary Ligomarc Advocates read.
Kisaame has been at the helm of DFCU for the past 11 years but he will be most known for the tumultuous two years after taking over Crane Bank.
A recent Auditor General’s report to Parliament into Bank Of Uganda over the closure and sale of several commercial banks pointed at possible collusion between BoU officials the beneficiaries of the deals. The Auditor General pointed out several anomalies in the DFCU deal noting that they buyer set the price for Crane Bank.
DFCU says Kisaame will continue to play a role until March 2019 but Katamba takes over as Chief Executive Officer on January 2, 2019.
Katamba has been serving as Managing Director for Housing Finance over the past five years. Prior to that, he was Chief Executive Officer of Finance Trust, which is now Finance Trust Bank.