Juma Kisaame

 

Former Dfcu bank Managing Director Juma Kisaame has been named the new board chairperson for Uganda Revenue Authority.

He replaces the late Simon Kagugube who passed on February. “We are pleased to announce the appointment of the new Chairperson of our Board of Directors , Mr Juma Kisaame.” URA announced.

Kisaame was relieved off his duty as Managing Director of Dfcu bank after investigation by Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (Cosase)  which probing Bank of Uganda (BoU) top officials based on Auditor General’s report Mr. John Muwanga indicated that Kisaame led the purchase of Crane Bank Limited (CBL) and Global Trust Bank Uganda. Dfcu Bank bought CBL at Shs200 billion and is paying in installments.

Kisaame led the acquisitions in the banking industry in Uganda, as Dfcu Bank acquired the assets and some liabilities of Global Trust Bank Uganda in 2014 and later Crane Bank Limited in 2017. The two acquisitions have been queried by the Auditor General John Muwanga’s special audit report of Bank of Uganda on seven defunct banks such as; Crane Bank Limited, Teefe Trust Bank, Greenland Bank, International Credit Bank, National Bank of Commerce, Global Trust Bank and Cooperative Bank.

the bad transaction is said to have led to Britain’s Commonwealth Development Corporation (CDC) to sale of their 9.97 per cent shares to another investor. He remains a key witness in the major court case between BoU/Dfcu and shareholders of Crane Bank Limited.