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Katamba resigns from Housing Finance Bank, heads to Dfcu

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Mathias Katamba, the Managing Director of Housing Finance Bank has tendered in his resignation letter to the board, Eagle Online understands.

Mr. Katamba’s resignation is not effective now but he is scheduled to hand over office in January next year which is provided for in his contract.

Days ago Eagle Online reported that Dfcu board of directors had agreed on Katamba as the incoming MD, to replace troubled Juma Kisaame who is expected to leave the bank at the end of his contract.

Following internal differences within Dfcu Bank, William Sekabembe who turned down a job offer at Kenya Commercial Bank (KCB) as Managing Director, hoping to be given the top slot at Dfcu Bank, now has no chance of being at Dfcu. Sekabembe declined the job offer in a letter dated September 5, 2018.

It is said that in process of luring him to remain at Dfcu, the board and top management increased Sekabembe’s salary from Shs38 million to Shs56 million per month on top of a promise that he would replace Kisaame, but now this won’t happen, Katamba having accepted to join Dfcu as MD.

Eagle Online also understands that the top managers at Dfcu are stashing money on various banks accounts, following recent reports that there was a planned investigation aimed at BoU top managers as well as those in commercial banks. In the same spirit, several properties that had been registered in the troubled officials names are being changed to other holders to avoid inside inquiry from shareholders.

Before zeroing on Katamba, sources said there had been two camps created among the shareholders, one led by DFCU Ltd board chairman Elly Karuhanga and Dfcu Bank board chairman Jimmy Mugerwa insisting on current MD Juma Kisaame and the other camp-mainly led by 58.71 majority shareholder Arise BV and Britain’s CDC Group favouring William Ssekabembe for job of MD but now as events have turned out Katamba loses the job as Kisaame exits to look for opportunities elsewhere, especially following the controversial purchase of Crane Bank in January 2017.

DFCU Shareholding percentages
Arise BV 58.71 per cent
CDC Group of the United Kingdom 9.97 per cent
National Social Security Fund (Uganda) 7.69 per cent
Kimberlite Frontier Africa Naster Fund 6.15 per cent
2 undisclosed Institutional Investors 3.22 per cent
SSB-Conrad N. Hilton Foundation 0.98 per cent
Vanderbilt University 0.87 per cent
Blakeney Management 0.63 per cent
Retail investors 11.19 per cent
BoU staff retirement benefit scheme is 0.59 per cent

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