William Sekabembe who had resigned his job as DFCU Bank’s Chief of Business and Executive Director after receiving an offer to head KCB Uganda has turned around and declined the KCB job.
Sekabemebe wrote to the KCB Head of Human Resource in a letter date September 5, 2018 regretting that he couldn’t take the job offer.
“I would like to give my appreciation for the recent Managing Director job offer with KCB Limited. However, after careful evaluation, I regrettably decline the position,” he wrote in a letter, a copy of which Matooke Republic has obtained.
KCB Uganda had in a letter dated July 24, approached Sekabembe to become its Managing Director. He reportedly resigned from DFCU and was serving a three months’ notice only to change his mind. Sources say he is primed to replace current DFCU Juma Kisaame.
“Despite the very encouraging upward mobility described within the organisation, I think it would be in my best interest to stay employed in my current position at DFCU Bank for personal reasons.”
Sources say Sekabembe was supposed to be elevated to the position of MD at DFCU early last year, but current MD Kisaame was given more time to manage DFCU’s acquisition of Crane Bank.
Kisaame has had a tumultuous time since the Crane Bank take over and has been hit by several law suits from Crane Bank’s owners over the irregular way in which their bank was taken over.
A recent Auditor General’s report into the acquisition of Crane Bank pointed to several irregularities which were indicators of possible fraud and collusion between DFCU and Bank of Uganda officers.
In the midst of that, there have been several shareholder and individual exits from DFCU over the past couple of months.
In mid-June, major shareholder, British government owned development firm CDC pulled out of DFCU, which they had partnered with for five decades.
Deepak Malik, the CEO of Arise B.V; DFCU’s majority shareholder also recently resigned from the DFCU board.
Of recent, DFCU has been hit by reports of a liquidity crisis which were confirmed by bank chairman Ally Karuhanga though they were later downplayed by management.
If Sekabembe assumes the DFCU top job, he is literally taking up the hot seat.
