Executive ProfilesThe Big Story

Six decades of impact: Reflections from Derek Charles, former General Manager at dfcu Bank (1994–1997)

Charles Derek Else, former dfcu General Manager.

My first encounter with dfcu was in the early 1970s, a period when the Uganda Development Corporation (UDC) and dfcu were pivotal players in the nation’s development finance sector. It was in 1972 when I joined dfcu as a Junior Executive, reporting directly to the General Manager.  At the time it was known as the Development Finance Company Uganda.  However, shortly after this, Uganda experienced a significant economic setback due to Idi Amin’s expulsion of the Asian community, a decision that, in my view, derailed the country’s economy for many years. Despite these challenging times, dfcu has shown remarkable resilience…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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