DFCU CEO Katamba finds himself in unchartered waters with debate looming over the more than sh500 million he signed off as sponsorship from bank to Buganda Kingdom where he serves as CBS FM’s board chairman.
In October 2019, Kabaka Mutebi appointed Mr Mathias Katamba as board chairman of CBS FM to replace the late Kaaya Kavuma, something many people see as conflict of interest if he used customers’ money to finance activities of the organization where he is board chairman.
CBS is one of the most successful radio franchises in the country and it organizes several income generating events every year.
After Mr Katamba, was appointed CEO of DFCU bank, he caught Kabaka Mutebi’s eye, and was appointed to this prestigious position.
The banker brought with him a wealth of experience and weight given the fact that he was heading the second biggest commercial bank in the country.
However, plying eyes were waiting for him to see how he walks a tight rope of balancing serving the sensitive bank and also render service to his Kabaka.
In December last year, Katamba was reported as having signed a cheque worth sh562,700,000 to Buganda Kingdom to sponsor Kabaka Mutebi’s birthday run. Not until his CBS appointment, DFCU had not sponsored the marathon.
Kabaka’s birthday run is a corporate social responsibility activity, a good cause where money earned from the marathon is used to solve some of the pressing needs of the society.
In the past, Kabaka Mutebi run was sponsored the operation and treatment of women who suffer from Fistula and Sickle Cell patients for the past six years.
The 7th edition of the ‘Kabaka Birthday Run’ will be held on Sunday 5th April 2020 and will be officially flagged off by His Majesty Kabaka Ronald Mwenda Mutebi who is turning 65. There will be sprints of 5km, 10km and 21km flagged off from Lubiri, Mengo.
This year, the proceeds from the marathon will be used in fighting HIV Aids.
According to Eagle Online, Mr Katamba is facing hard questions from within his company over this donation, with accusations of “conflict of interest and sectarianism”.
With several kingdoms in the country, Mr Katamba, faces questions of why he preferred one kingdom over the others. It is not clear if Mr Katamba signed up because he is board chairman of CBS FM, that he is a Muganda himself, or, because it is strategic for the bank to identify the social causes of the Kingdom of Buganda.
Katamba’s critics say he is too close to the power brokers of Mengo, and say, it is wrong for the CEO to appease his friends at the expense of the bank’s shareholders and customers.
It should be noted that the bank does not have money of its own, rather, it is money from customers that the money makes off some profit, through charging interests or service charges.
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