Prime
Dfcu’s William Sekabembe retires from bank after 11 years
Mr William Sekabembe
What you need to know:
- Dfcu says Mr Sekabembe, who has been with the bank for 11 years, will retire effective August 31
Dfcu executive director William Sekabembe will leave the bank at the end of this month.
In a notice to shareholders, dfcu indicated that Mr Sekabembe, who has been with the bank for 11 years, will retire effective August 31.
“The board of dfcu Bank hereby announces the early retirement from the bank of its executive director ... [Mr Sekabembe], ” the notice signed by Angellina Namakula Ofwono, the dfcu company secretary, reads in part, noting that Mr Sekabembe, who has more than 24 years of experience in banking, had been instrumental in the success, transformation and growth of dfcu.
Mr Sekabembe confirmed that August 31 would be his last day at dfcu Bank. However, he declined to comment on his next move.
He has been a key figure at dfcu Bank and has on different occasions served in acting capacity as the bank’s managing director.
Before the appointment of Mr Mathias Katamba, who has since left the bank, Mr Sekabembe had been serving as the managing director in acting capacity. Mr Katamba had replaced Mr Juma Kisaame, who left in 2019.
In January, Mr Sekabembe was once again appointed dfcu acting managing director, before the bank appointed Zimbabwean national, Charles Mudiwa in the position in April.
Mr Sekabembe, who has also been sitting on the dfcu board, said in the notice he had achieved and delivered not only for the bank but customers, shareholders, and the banking sector as a whole.
He leaves at a time when dfcu is undergoing a lot of transformation with focus on digital banking, improved customer reach and experience and expanded lending.
Dfcu is among Uganda’s domestic systematically most important banks, among which include Stanbic, Standard Chartered, Centenary and Absa.
The bank experienced expanded growth in customer and deposit portfolios after it acquired defunct Crane Bank in 2017.
However, the bank, even as it has remained profitable, has also posted mixed results in the last three years, resulting from an expansion in loan provisioning and write-offs, many of which were inherited from Crane Bank.
Dr Winnie Kiryabwire, the dfcu chairperson, said the bank was “incredibly grateful for [Mr Sekabembe’s] energy and vision, which he had dedicated while serving the banking in different capacities, among which included head corporate banking and head of consumer banking.
