Will dfcu’s Mathias Katamba replace Fabian Kasi as new Centenary Bank MD?

Fabian Kasi is leaving a well decorated reign at Uganda’s largest indigenous bank Centenary Bank.

His departure has opened wide a race for managing director of a robust Catholic church owned financial institution.

However, reporting coming through show DFCU’s Chief executive officer Mathias Katamba as the front runner to replace Mr Kasi.

Katamba who in October last year replaced Juma Kisaame whose tenure at the bank expired in December 2018, inherited a boat that was in turbulence following its controversial acquisition of Crane Bank, which has made it subject to a number of probes and court cases.

Katamba’s appointment became effective on January 2, 2019.

The Board of Directors of dfcu limited (“the Company” informs its shareholders and the general public that Mr Mathias Katamba has been appointed the new Chief Executive Officer of its subsidiary dfcu Bank Limited effective 2 January, 2019,” the statement signed by Dr Elly Karuhanga, the Board Chairman dfcu Limited reads in part.

Now with less than a year at the helm of dfcu, Katamba is reported set to join a more stable Centenary Bank as Managing Director.

According to Eagle online, the reason behind’s move is.

If it turns out to be true, Katamba’s star as Uganda’s top banker will shine further.

Prior joining dfcu, Katamba worked for Housing Finance Bank as Managing Director.

He also served as CEO, Finance Trust Bank for five years and has held other senior positions in the financial services sector. He currently serves as Chairman of the Uganda Institute of banking and Financial services and is a director at UAP Old Mutual General Insurance Uganda Limited, Private Sector Foundation and Central Broadcasting Services.

When he was appointed dfcu CEO,  Katamba seemed like the right pick to lead the institution that came under scrutiny ever since it acquired Crane Bank Ltd, in a deal that, according to Auditor General report’s to Parliament, showed conflict of interest, and fears of possible fraud or corruption.