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The Katikkiro of Buganda Owek. Charles Peter Mayiga, on 26, April 2023, at Bulange Mengo, inaugurated the new Board of Directors to oversee the performance of K2 Telecom, a Kingdom-owned telco. The 10-member board with a diverse skills-set is chaired by William Sekabembe, a renowned banking executive who is also the Executive Director & Chief Commercial Officer of dfcu Bank, one of Uganda’s largest banks. The other members of the new Board are Mr. Michael. K. Mwebe, Mr. Francis Buwule, Prince Crispin Jjunju, Dr. Rose Nakasi, Mr. Robert Kasozi, Mr. Swaib Kyanda K, Mr. David Moore Balaka, Mr. John Kitenda,…
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CEO East Africa Magazine, on January 18th 2023 broke the story that Charles Mwanyara Mudiwa, the former Chief Executive Officer of Stanbic Bank Kenya had been appointed as the next Chief Executive Officer of dfcu Bank in Uganda, pending Bank of Uganda approval. Although Jimmy Mugerwa, the Chairman dfcu Limited, the holding company for the bank at the time, denied the appointment on phone with this reporter, the bank yesterday, finally confirmed that indeed Mr. Mudiwa would be taking up the position effective 11th April 2023. Mudiwa, a financial services veteran with over 26 years of experience, 21 of them,…
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Dfcu Limited, the holding company for dfcu Bank, last week released its 2022 results reporting that net profit grew by 217% from UGX9.3 billion in 2021 to UGX29.5 billion in 2022, underpinned by a 6% growth in deposits from UGX2.3 trillion in 2021 to UGX2.4 trillion in 2022. The bank also reported that while lending declined by 9.7% from UGX1.51 trillion to UGX1.36 trillion, the number of borrowing customers increased by 15 per cent. The bank said it is repositioning to “provide its customers with innovative solutions” and to “make a difference in the communities”. The bank also said it,…
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Charles Mudiwa, the former Chief Executive Officer of Stanbic Bank Kenya is tipped to become the next Chief Executive Officer of dfcu Bank in Uganda, CEO East Africa Magazine can exclusively reveal. Dfcu Bank’s CEO Mathias Katamba, resigned from the bank this month and is set to leave at the end of January 2023. In his place, William Sekabembe, the Executive Director and Chief Commercial Officer has been designated by the board, as Ag. Chief Executive Officer. “The board was looking for someone who has run a large bank with a solid and demonstrable results record. They found that in…
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Following the resignation last week, of Mathias Katamba from dfcu Bank, the bank has appointed William Sekabembe, hitherto, the bank’s Executive Director & Chief Commercial Officer as its interim head. “The Board and Directors of dfcu Limited, informs its shareholders and the public that Mr. Mathias Katamba, Chief Executive Officer and Managing Director of dfcu Bank Limited (a subsidiary of dfcu Limited) has tendered in his resignation to the dfcu Bank Board, effective 31st January 2023,” Jimmy Mugerwa, the Chairman, dfcu Limited said in a 10th January 2023 public announcement. “In the interim, the Executive Director, Mr. William Sekabembe, will…
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dfcu Bank recently held a customer engagement workshop with prospective customers in the roads construction sector in Uganda. The workshop which ran under the theme, ‘Challenges and Opportunities in the Road Construction Sector,’ was aimed at raising awareness on financing opportunities for various players in the road sector and highlighting the possibilities that arise from partnering with dfcu Bank in terms of increased capacity to take on bigger contracts. This was supported by the Uganda National Roads Authority (UNRA) which shared an outlook of the country’s road sector. Speaking during the engagement, the dfcu Bank Executive Director and Chief Commercial…
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The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…
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Following several denials of leadership changes at dfcu Bank, the board today confirmed that the under-pressure long serving Juma Kisaame will be leaving the top helm of the bank. According…
Dfcu Bank, had to pay William Sekabembe a 47% salary increment to stop him from crossing to rival KCB Bank, where he had been offered a Managing Director role, we…
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