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On the sidelines of the just-ended Annual Bankers Conference, CEO East Africa Magazine’s Paul Murungi caught up with Godfrey Sebaana, CEO of Diamond Trust Bank Uganda, for a quick dipstick on the bank’s performance and the state of the industry. In this brief but insightful exchange, Sebaana reflects on DTB’s growing balance sheet, healthy capital ratios, and strategic alignment with government-led growth sectors. He also shares the bank’s ambitions in the USD 1.4 billion remittance market, the opportunities of a well-capitalised industry now able to finance large-scale contracts locally, and the one thing about DTB that keeps him awake at…
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Ugandan Banks have responded to growing concerns from the diaspora community over the quality of real estate developments financed through mortgages, announcing a raft of reforms to protect buyers and ensure accountability among property developers. In a statement issued by the Uganda Bankers Association (UBA) Chairman, Mr Julius Kakeeto, the financial institutions under the UBA umbrella acknowledged complaints from diaspora clients who have invested in properties, sometimes remotely, only to receive substandard or non-compliant buildings. “We fully appreciate that hard-earned money from diaspora workers or indeed anyone should never go to waste through substandard property developments,” Mr Kakeeto, while delivering…
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