Housing Finance Bank MD resigns; is he headed to DFCU?

Nile Post News

Nile Post News

, Business

Mathias Katamba the Housing Finance Bank Managing Director has finally resigned his job and according to the grapevine, he could be headed to DFCU in a similar role.

If this happens, it means Juma Kisaame’s beleaguered rein at the helm of DFCU could some to an end.

At Housing Finance Katamba will be replaced by Michael Karokora Mugabi in acting capacity, according to a press statement and internal memo by the bank’s Board Chairman, Mr. David Opio Okello.

Katamba’s 18-year banking career, spans various roles at Orient Bank, Post Bank, Barclays Bank,  Pride Micro Finance , Finance Trust Bank and Housing Finance Bank where he grown the bank’s assets by 23% from Shs597bn in 2014 when he joined to Shs733bn in 2017.

He holds an MSc (Financial Management) degree from the University of East London with additional qualifications from Harvard University’s John F. Kennedy School of Government and the University of Pennyslavia’s The Wharton School.

Insider sources say Katamba’s planned appointment as managing director at DFCU could spell bad news for William Sekabembe, dfcu Bank’s Chief of Business & Executive Director who had earlier resigned from the bank only to be convinced to return with the promise that he will replace Kisaame.

Sekabembe was headed to KCB Bank Uganda as managing director.

Insider sources said Kisaame’s  exit is due to the controversial acquisition of a Crane Bank- a deal that although financially lucrative, has dented the reputation of dfcu Bank and especially that of its shareholders- CDC Group PLC and Arise B.V.

Arise B.V, which owns 58.7% of dfcu is itself is owned by RaboBank (25%), Norfund (48%) and Dutch Development Bank- FMO (27%).

Who is Mugabi?

According to Ceo Maganzine, Mugabi, Katamba’s replacement is said to hold “a wealth of banking experience” according to Housing Finance Bank’s website. He is a lawyer by profession, specialising in commercial and corporate law.

He holds a Masters of Law (Commercial and Corporate) from the University of London. He is also an Institute of Chartered Secretaries and Administrators (ICSA, UK) fellow.

He is an advocate of the High court of Uganda and other courts of judicature.   

 

 

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