Uganda: Katamba Quits Housing Finance, Linked to Dfcu

29 October 2018

Kampala — Housing Finance Bank has appointed Michael K Mugabi, the former executive director as acting managing director, replacing Mr Mathias Katamba who resigned his position last week.

Mr Katamba, who replaced Mr Nickolas Okwir as the bank's managing director in 2014, has been linked with a move to dfcu in a yet to be known posting.

Sources familiar with the matter, who asked to stay anonymous because the deal has not been concretised, said the move has been in the pipeline for about three months.

However, dfcu declined to comment on the matter, saying the bank will address the press today on a matter they did not divulge details.

Mr Jimmy Mugerwa, the dfcu Bank chairman at the weekend told Daily Monitor to wait for a press statement today.

"I am on the farm. I cannot reveal such details on phone. Make an appointment so that I can authenticate who I am talking about. We will give you a press statement on Monday [today]," he said.

In an interview at the weekend Mr Katamba confirmed he was leaving Housing Finance Bank.

However, he could neither deny nor confirm his linked move to dfcu.

Dfcu has since taking over Crane Bank received a lot of attacks, many false and some exaggerated, from online publishers who have previously said the bank was having a management crisis.

Earlier, online publishers and bloggers had indicated that Mr William Sekabembe, the dfcu chief of business and executive director had resigned.

He had been linked with a move to KCB Bank, which the bank dismissed, accusing former Crane Bank directors and its associates of being behind the fake news with the aim of destabilising Uganda's second largest bank.

In a public notice recently, dfcu, acting through Kalenge, Bwanika, Ssawa and Company Advocates warned Mr Sudhir Ruparelia's son, Rajiv, who it accused of propagating fake news with the aim of destabilising the bank.

"You have variously paid operators of online new sites and blogs (sic) to spread malicious falsehoods about our client and its senior management, all to create an impression that our client is in a precarious situation and an ownership and management crisis whereas this is not the case," the notice read before asking Mr Rajiv Ruparelia to issue a public apology.

However, in a notice recently Mr Rajiv demanded that dfcu withdraws the notice or risk being dragged to court.

Major players

Mr Mathias Katamba. He confirmed his resignation from Housing Finance Bank but he could neither deny nor confirm his alleged move to dfcu Bank. Sources say the move has been on for at least three months.

Mr Michael K Mugabi. The former Housing Finance Bank executive director was at the weekend appointed in acting capacity as the new managing director to replace Mathias Katamba.

Mr Jimmy Mugerwa. The dfcu bank chairman says the bank will today issue a press statement on a yet to be known matter. However, analysts say it could announce some leadership changes.

Mr Juma Kisaame. He is the current managing director at dfcu Bank. He has actively been involved in the transformation of the bank. He was key in negotiations to takeover Crane Bank.

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