dfcu Bank Announces Leadership Change

After eleven illustrious years at the helm of leadership at the second largest Bank in Uganda, Chief Executive Officer, Mr. Juma Kisaame will be leaving dfcu in the first quarter of 2019 on retirement and will be succeeded by Mr. Mathias Katamba. Mr Katamba will take over the leadership role at dfcu Bank as CEO starting from January 2, 2019.

Announcing the management changes dfcu Bank Board Chairman Jimmy D. Mugerwa said, ”Juma Kisaame has had notable achievements some of which include playing a key role in assisting dfcu Limited, the holding company, realign the shareholding that brought on board strategic partners like Arise Investments BV that include Rabobank, Norfund (later NorFinance) and FMO. He also led the most successful acquisitions in the banking industry in Uganda when dfcu Bank acquired some assets and took over some liabilities of Global Trust (U) Ltd Bank (In liquidation) in 2014 and later in 2017 acquired some assets and assumed some liabilities of Crane Bank Limited (In Receivership).’

The Chairman went on to express his appreciation to Kisaame for his professional and personal commitment during his tenure as CEO and his extraordinary leadership that increased shareholders value; saw dfcu Bank rise to become the second largest bank in the country; resulting in three-fold balance sheet growth to over three trillion Uganda shillings, a customer base of close to one million and a network of 65 branches.

Mr. Mathias Katamba, who joins the Bank from Housing Finance Bank, has over fifteen (15) years’ experience in the Finance & Banking sector, twelve (12) of which have been at C-Suite level. With vast expertise in Strategic Management & Investor relations, Retail Banking and strong business acumen, Mathias holds an M.Sc. in Financial Management from the University of London, has also attended the John F. Kennedy School of Education at Harvard University and the Advanced Leadership Program at the University of Pennsylvania.

“We look forward to his taking the helm at dfcu and believe he is well placed to continue the progress of the bank, building on the successes of his predecessor to the benefit of all stakeholders, contributing to the very important business sector in which dfcu operates and to the growth of the Uganda economy as a whole,” the Chairman concluded.

dfcu was established in 1964 as a development finance institution. Over the years dfcu has been associated with many success stories in Uganda’s economy in various sectors including agribusiness, communication, education, health, manufacturing, tourism, real estate, mining, construction, transport, trade and commerce, among others.

Key Milestones

  • 1999: Bought Uganda Leasing Company, renamed it dfcu
  • 2000: Bought Global Trust Bank, renamed it dfcu Bank, and started commercial banking.
  • 2004: dfcu Limited was listed on the Uganda Securities Exchange.
  • 2008: Merged its two businesses (Development Finance and dfcu Bank) to create a “one-stop shop “under dfcu
  • 2013: Realignment of shareholders bringing on board a strategic partner – Rabobank, with significant experience in agribusiness.
  • 2014: Consolidated business operations into our Head Office – dfcu
  • 2014: dfcu Bank acquired some assets and took over some liabilities of Global Trust Bank (In Liquidation_
  • 2016: Aligned shareholding with Rabobank, Norfund and FMO combining to form Arise which is committed to strengthening and developing effective, inclusive financial systems in Africa with a long-term perspective.
  • 2017: Acquisition of certain assets and assumptions of some liabilities of Crane Bank Limited (In Receivership).

Shareholder Structure

dfcu is incorporated in Uganda as a public limited liability company and is domiciled in Uganda. Some of the company’s shares are listed on the Uganda Securities Exchange.
The major shareholders of dfcu with their shareholdings are:

Shareholder  % Ownership
Arise (Norfund, NorFinance, Rabobank & FMO) 58.70
Commonwealth Development Corporation 9.97
NSSF 7.46
Kimberlite 7.35
Others  16.5

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