The crisis at DFCU Bank has deepened after its board chairperson Jimmy Mugerwa has repeatedly blamed managing director Juma Kisaame of laying back as other officials are being exposed in hostile takeover of Crane Bank.
This website has independently learnt that Mugerwa who feels abandoned accuses Kisaame of ‘looking on’ and ‘doing nothing’ to save the image of the bank as his contract nears expiration.
Kisaame will be leaving DFCU as its MD in December and the bank has since sourced Mathias Katamba to occupy the position.
Kisaame, according to reports is headed to Tanzania.
However, he will be leaving Uganda a very affluent man having amassed huge sums of money especially in brokering the deal in which DFCU acquired Crane Bank which belonged to Sudhir Ruparelia.
No so long ago his bank account leaked which indicated he had $42 million.
The takeover has since exposed conspiracies hatched by Central Bank top officials and DFCU managers.
The sale, besides being contested in Courts of Law is being probed by an investigative committee of Parliament where Bank of Uganda administration has for sometime been grilled.
The findings of the committee so far are shocking according to the responses of the Bank of Uganda in which it defends the closure of seven banks.
Implosion at DFCU
This website has reliably learnt that two cliques have been formed at DFCU with Pro- Mugerwa team pitting against Juma Kisaame’s.
A source at the bank says that the staff suspected to be loyal to Kisaame have since been suffocated, redeployed whereas others have been stripped of their powers.
“There are senior managers whose wings have been clipped but they remain earning same salary though toothless. They no longer take important decisions,” a source said.
Accordingly the two cliques are all fighting to win favours of the new managing director Mr. Katamba.
“Katamba is walking in a land mine field,” a source said.
The source predicts that both sides would want to mislead Katamba as an avenue of settling scores.
A few months ago, there was immense restructuring at DFCU where staff was trimmed while others were transferred without explanation.
But the bank has repeatedly denied it is in a crisis and responded to these reports as fake news generated by selfish individuals in town.
However, the reports published on DFCU particularly by online publications have turned to be true leaving the public wondering whether its DFCU peddling fake news.