Mid last month DFCU Bank collaborating with some spin machines in town came out to threaten legal action against a number of Online Publications which had for long exposed the institution’s corporate deception.
The bank listed these publications discrediting them as propagators of fake news, claiming the reports were hurting the banking business.
In a clearly engineered scheme, DFCU and it’s PR handlers sought State Intervention against these Online Media Outlets as a means to curtail publication of the ‘natural truth.’
However the ‘propagators’ of fake news as portrayed by the troubled institution stuck to their guns and weren’t cowed by empty cyber missiles.
“instead they unleashed more truth about DFCU and how the bank’s lies leaving the administrators very stripped,” an observer said.
On several cases occasions DFCU through it’s propaganda machinery attacked, criticized and denied as true stories published by these Online Outlets whose crediblity had been questioned until the truth emerged not so long ago.
Highlighting some of the recent scenarios; DFCU came out to vehemently refute reports that it’s Managing Editor Juma Kisaame had not thrown in resignation letter which had since been trashed.
Again DFCU dismissed as untrue that its Director Deepak Malik had quit until a resignation letter leaked and was published by Online Media Outlets.
A few days ago, reports appeared on Online news sites that Mathias Katamba, the MD of National Housing Bank had secretly tendered his resignation after holding indoor talks with DFCU to replace Kisaame.
The same story was denied by DFCU. However, before DFCU’s falsehoods could see light, Mr. Katamba quit National Housing Bank.
On Wednesday, the nation was awash with reports of Juma Kisaame departure from DFCU an institution he has deligently served.
The question now lingers between DFCU and those perceived as ‘disseminators of fake news’ who is right?
Kisaame’s Departure
The long serving MD chief executive officer of DFCU openly handed in his resignation ending speculation about his future at the bank which lasted for months.
The institution in a statement released Wednesday confessed Kisaame asked to retire after serving for a decade.
“During his 11 year tenure as the chief executive officer of DFCU bank, he oversaw the exponential growth of DFCU bank which has grown to be Uganda’s second largest bank making a significant contribution to the growth of many businesses in the various sectors of the economy,” said the statement.
The bank also announced that Katamba will take over as chief executive officer effective January 2, 2019. Katamba served as managing director of Housing Finance Bank until early this month when he resigned.
“Mr Katamba has over 15 years experience in the banking and financial services sector, 12 of which have been at C-Suite level
Headed to Tanzania
The out-going Managing Director of Dfcu Bank, Juma Kisaame is believed to be headed for Bank of Tanzania around April next year, reports Eagle Online.
Kisaame is said to have done interviews last week and is expected to join his new employees after leaving Dfcu Bank end of March 2019.
Kisaame joined Dfcu in 1992 as head of finance. He held several jobs in Dfcu until 2004, when he joined Tanzania’s Eurafrican Bank as managing director. He would appointed MD of Dfcu in 2007.
Kisaame has been replaced by William Sekabembe, who has been the Chief of business and Executive Director who starts his duties on January 2, 2019.
Kisaame has been in the limelight over the manner in which he connived with officials at Bank of Uganda to takeover Crane Bank Limited. It also emerged recently that he had on his account over $40 million in Tropical African Bank.
