Kisaame finally throws in towel at DFCU, Katamba is new CEO

Juma Kisaame, the long serving chief executive officer of DFCU has officially tendered in his resignation ending months of speculation about his future. It has also been confirmed that Mathias Katamba will take over from Kisaame.

In a statement, DFCU said Kisaame had asked to retire after 11 years at the helm.

"During his 11 year tenure as the chief executive officer of DFCU bank, he oversaw the exponential growth of DFCU bank which has grown to be Uganda's second largest bank making a significant contribution to the growth of many businesses in the various sectors of the economy," said the statement.

Analysts say Kisaame's tenure has been a mixed bag of success and challenges. While there has been a growth in its assets, the controversial purchase of Crane Bank last year remains a blot on his CV. The transaction is under investigations by Parliament.

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The bank also announced that Katamba will take over as chief executive officer effective January 2, 2019. Katamba served as managing director of Housing Finance Bank until early this month when he resigned.

"Mr Katamba has over 15 years experience in the banking and financial services sector, 12 of which have been at C-Suite level," the bank said in the statement.