Dfcu appoints Sekabembe acting managing director

Mr William Sekabembe replaces Mr Mathias Katamba, who resigned last week. Photo / File 

What you need to know:

  • Mr Mathias Katamba, who has been the managing director, is expected to leave the dfcu at the end of this month after he resigned last week 

The Dfcu Group board has Tuesday appointed Mr William Sekabembe as the dfcu Bank acting chief executive officer and managing director. 

Mr Sekabembe, who will hold the position in the interim until a substantive managing director is appointed, replaces Mr Mathias Katamba, who last week indicated he had resigned due to personal reasons. 

In a notice sent to shareholders Tuesday, Mr Jimmy Mugerwa, the dfcu Group chairman, indicated that the board had accepted Mr Katamba’s resignation and was in the process of identifying a replacement. 

“In the interim, the executive director, Mr William Sekabembe will act in the position of chief executive officer and managing director,” he wrote. 

Mr Sekabembe is the current dfcu executive director. He was appointed to the position in August 2016.

He has held various roles within dfcu including head of development and institutional banking. 

He has more than 24 years of banking experience with extensive knowledge in retail and business banking, credit risk management and product development.

He has previously worked with Stanbic Bank as head of products and Barclays Bank, now Absa, as head of distribution. 

Mr Katamba, who has served dfcu for four years, is expected to leave by January 31. He was tapped from Housing Finance Bank and was appointed on October 31, 2018, but started official duties on January 2, 2019. 

He replaced Mr Juma Kisaame, whose contract had expired after serving dfcu for 11 years. 

Mr Katamba took over at dfcu after the takeover of some assets of Crane Bank, which elevated its position in terms of profitability and assets.

However, the bank has had mixed performance with profits dropping by 46 percent during the year ended December 2021, due to an increase in non-performing loans.  

During its 57th virtual annual general meeting, Mr Katamba told dfcu shareholders that the bank would diversify its financial streams in the coming years to include retail personal, retail business and corporate banking to ensure effective recovery and profitability.   

Efforts to get a comment from Ms Winifred M T Kiryabwire, who was in April last year appointed the dfcu Bank chairperson, were futile by press time.