Dfcu appoints Kate Kiiza to replace Sekabembe
Ms Kate K Kiiza
What you need to know:
- Ms Kiiza comes at a time when dfcu in April appointed a Zimbabwean national as new managing director to replace Mathias Katamba, who left the bank early this year
Dfcu has appointed Ms Kate K Kiiza as the new executive director to replace Mr William Sekabembe, who retires from the bank effective end of this month.
In a notice to investors, shared through the Uganda Securities Exchange, Ms Angelina Namakula-Ofwono, the dfcu company secretary, noted that Ms Kiiza’s, appointment, who has been working as the bank’s chief financial officer for about eight years, had already taken effect.
Dr Winifred Tarinyeba, the dfcu chairperson, in a statement said, the board was pleased to have a seasoned financial professional and a dedicated female leader to step into top leadership of the bank.
Her appointment comes weeks after dfcu said Mr Sekabembe would “retire early” after 11 years in key roles.
Ms Kiiza brings more than 25 years of experience in financial services and oil marketing, many of which have been spent in top management.
She has been the dfcu chief financial officer and had previously worked with Shell, now Vivo Energy and United Bank of Africa.
She becomes dfcu’s executive director at a time when the bank in April appointed a new managing director, Zimbabwean national, Charles M Mudiwa, who replaced Mr Mathias Katamba.
Dfcu is undergoing transformation, with emphasis on improving customer reach, experience and expanding lending. It is one of Uganda’s largest banks, which during the period ended December 2022, reported a 3 percent increase in assets to Sh3.24 trillion.
However, the bank has also posted mixed results, reporting an increase in loan provision and write-offs, many of which were inherited from acquisition of defunct Crane Bank in 2017.
Dfcu said the appointment of Ms Kiiza brings on board an expert, whose strong strategic orientation and commercial awareness as well as her notable stakeholder engagement capabilities, will be key in the ongoing transformation. She will, however, have to find a solution for the growth in the loans and debt securities defaults.
In the seven months to June 2023, dfcu reported that loans and securities defaults had increased to Shs45.5b.
Ms Kiiza is a fellow of the Association of Chartered and Certified Accountants and a member of the Institute of Certified Public Accountants of Uganda. She holds a Bachelor’s degree in Economics from Makerere University.
