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Geofrey Mchangila is the CCO & CEO for Citibank Tanzania Limited, a subsidiary of Citigroup, focusing on providing financial services to large corporations and institutions. He has over 18 years…
Airtel Mobile Commerce Uganda Limited (AMCUL), in partnership with Mastercard, Diamond Trust Bank, Network International, has today launched the Airtel Money Global Pay Card, a virtual prepaid card designed to give Ugandans a…
Godfrey Sebaana, the incoming Chief Executive Officer of Diamond Trust Bank Uganda (DTBU) has committed to building on the foundation left by his predecessor, Varghese Thambi to create an even more enhanced, reliable and always-on customer experience. Speaking at a dinner hosted by the bank on May 21st 2024 to bid farewell to Thambi who has been the bank’s Chief Executive for the last 17 years, since July 2007, Mr. Sebaana said that he has already received board approvals for the planned enhancements, so customers should expect more customised products and services and a service experience that seeks to “break…
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It all started with a call from a recruitment agency executive. At the time, Thambi had spent 30 years in the banking industry, rising to become a Senior Vice President and Head of Retail Banking at India’s IndusInd Bank, based in Mumbai, Maharashtra. In that role, he oversaw more than 300 branches and was No.4 in the bank’s overall order of command. He had risen from a teller job that he started on November 19, 1976, with manual banking ledgers and had risen to become a branch manager at Dhanlaxmi Bank in Hyderabad, India before crossing over to IndusInd Bank…
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Uganda’s Supreme Court, Uganda’s highest court has dismissed attempts by businessman Hamis Kiggundu to run away from his debt obligations with Diamond Trust Bank Uganda (DTB-U) and Diamond Trust Bank Kenya (DTB-K), using the cover that the syndicated lending to him was done without a license and therefore an illegality and a nullity. Dismissing the application by Hamis Kiggundu and his companies, Ham Enterprises Ltd and Kiggs International Ltd), the Coram of 5 judges⏤Owiny-Dollo CJ; Mwondha JSC; Tuhaise JSC; Chibita JSC; Musota JSC)⏤ in a lead judgment by the Chief Justice, the Hon. Owiny-Dollo further re-emphasised no law forbids the…
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Britania Foods Limited, makers of biscuits, has been placed under administration under Peter Kahi of PKF Consulting Limited. According to reports, Britania,s troubles come from defaulting on loans worth more than Ksh1.3 billion (UGX41.9 billion) acquired from Diamond Trust Bank – Ksh900 million (UGX29b) and other creditors. A notice issued on August 17th stops any director, shareholder or any other person from transacting the manufacturer’s business without authorization from the administrator. “None of the directors, shareholders, employees and no other person is authorized to transact any business on behalf of the Company without express written consent from the administrator,” the…
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Bank of Uganda has lost an application in which it sought to join as ‘Amicus Curie’ (Friend of the Court), the ongoing appeal by Diamond Trust Bank against Ham Enterprises, a company owned by businessman Hamis Kiggundu.The court was sitting to hear an appeal against a ruling by the high court to the effect that the DTB Kenya, a parent company of Diamond Trust Bank-Uganda, was not registered to do business in Uganda, nor appoint DTB Uganda as an agent to collect debts owed to the Kenyan bank by Kiggundu.The judgement stemmed from a case filed by Ham Kiggundu, and his…
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Bank of Uganda governor Emmanuel Tumusiime-Mutebile has come out about the Wednesday judgement in which Diamond Trust Bank was ordered to pay businessman Ham Kiggundu UGX130 billion. “Bank of Uganda (BoU) has taken note of the judgement of the Commercial Division of the High Court in Misc. Application No. 654 of 2020 and High Court Civil Suit No. 43 of 2020 involving M/s Ham Enterprises and Others –Vs- Diamond Trust Bank (U) Ltd and Another, which was delivered on October 07, 2020,” the governor says. In a statement released today, the governor says the Central bank is awaiting a detailed…
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