dfcu Bank receives license to offer Insurance Products

dfcu customers and the general public can now purchase a wide range of insurance products, including motor vehicle cover, fire and burglary, Child Education, goods in transit and so much more from dfcu Bank.

This after the Insurance Regulatory Authority of Uganda granted dfcu Bank a license to offer bancassurance services to its customers.

As a bancassurance agent, dfcu Bank now has greater flexibility to provide a more wholesome financial service tailored to customer needs at their convenience.

Some of the insurance covers that will be offered will include; Investment clubs cover, Salary protection cover, Hospital cover for Dembe accounts among others.

Through these covers, the bank’s customers will be able to access medical insurance, life insurance, funeral and related expenses insurance.

Speaking at the event, dfcu Bank’s Chief of Business and Executive Director; William Sekabembe said: “dfcu Bank’s customers will be able to access their insurance needs through our 67 branches countrywide hence offering more convenience to them.”

We are making all this possible for our customers by offering more holistic financial solutions for much less and conveniently. Through the tailor made insurance products, dfcu Bank customers are guaranteed a range of insurance covers at affordable cost and conveniently.

The Insurance Regulatory Authority CEO, Ibrahim Lubega Kaddunabbi commended dfcu Bank for its effort to drive growth in the banking sector through its innovative products. “By adding bancassurance to its portfolio, the Bank is ensuring the growth of the insurance sector as well. Bancassurance will also enable the insurance companies grow their network to reach more clientele that are brought together through dfcu Bank,” he said.

dfcu Bank will be offering various incentives for its customers to encourage them to subscribe to bancassurance.

“By attaching insurance to some of the bank’s products, we believe that we will contribute to the uptake of insurance. Additionally, all dfcu bancassurance operations will be regulated by the Insurance Regulatory Authority and we are committed to upholding the highest level of compliance in our operations,” Sekabembe added.


Battle for Cash” Top 20 Investment Clubs for Nairobi Study tour.

The Top 20 Investment Clubs in the recently concluded dfcu ‘Battle for Cash’ Investment Clubs Competition flew out late last week for a study tour in Nairobi. The flag off was presided over by Mr. William Sekabembe, dfcu Chief of Business and Executive Director.

The three-day study tour will cover areas like investment club formation, set up and management; Designing and Executing a Successful Investment Strategy; Compliance with laws and regulations; Funding your investment project and practical tips from the top four investment clubs in Kenya.

Between June and August 2017, dfcu Bank had teams going round the country carrying out regional saving and financial literacy workshops. Some of the topics covered included; Why and how to save; where to invest money so it can grow, things to think about when thinking of investing and so much more. This was aimed at changing the perceptions and attitudes about money, savings and investments.

dfcu Bank received applications from close to 200 Investment clubs across the country. The applications were independently vetted by PwC who were able to zero down to 20 clubs that entered the TV competition.

As part of the application process, clubs were tasked to develop a Business plan for an innovative investment project. So at the start of the show all shortlisted 20 clubs had to defend the business plan they wrote to a panel of judges to make it to the next show. The clubs were trained in different aspects and assigned weekly tasks to demonstrate their ability to put into practice what they had been taught.

Geneber Outspan Organic Farmers who were the overall winners in the competition walked away with UGX 25 million and coming in second, The Peak Investment Club won UGX 15 Million. The third winner Sikyomu Development Organisation got UGX 10 Million while the fourth and fifth clubs both got UGX 5 Million each.

In recognition of the role of women and youth in development there was a special category for women and youth. The best youth club price was scooped by Plus Save Group and Soroti Women Cooperative Union were awarded in the best women club category. Both clubs walked away with UGX 7.5 Million each.

dfcu Bank introduced the Investment Clubs program in 2007 providing a conducive platform to foster group savings. The dfcu Bank program has since grown with over 10,000 Investment Clubs that cut across all segments including students, the professionals, women and youth holding a savings turnover in hundreds of billions of shillings.

“It is not enough to simply save money if it is not growing so the Investment Club challenge was also about challenging the investments clubs and the public to think through how to grow & multiply their savings,” Sekabembe said.

An amount totaling to UGX 100 million in prize money was set aside for the Investment Club challenge including regional draws carried out in different parts of the country.

dfcu Bank invests in education through the refurbishment of Nakivubo Blue Primary School.



As part of its Corporate Social Responsibility Program, dfcu Bank has made a contribution of UGX 75 million towards the refurbishment of a three-classroom block at Nakivubo Blue Primary School.The school is currently managed by the Kampala Capital City Authority and has over 1,000 students from the surrounding Owino Market and Kisenyi areas.

The KCCA Director for education (4th left), looks on as dfcu Bank's William Sekabembe hands a dummy check to the Headteacher of Nakivubo Blue Primary School for the renovation of a class

The announcement was made during a press conference at the Kampala Capital City Council Authority offices.


The school which is located in downtown Kampala is one of the oldest primary schools in Kampala district. Overtime, its physical condition has deteriorated which has had a negative impact on its academic standards. Currently, the classroom block that will be not in use.


Speaking during the announcement, William Sekabembe, dfcu Bank’s Executive Director and Head of Business said the contribution was part of the Bank’s efforts to improve the lives of the communities in which it operates.


“Our Corporate Social Responsibility program is centered around a number of pillars which include; Child and Maternal Health, Environmental Management, Community Development and Emergency Intervention.”

Officilas from dfcu Bank, KCCA pose wit staff and students of Nakivubo Primary School. dfcu donated UGX 75 million to the renovation of a classroom block at the school.

“Under these pillars, dfcu Bank has supported a number of initiatives which we believe have significantly improved the welfare of the communities and organizations to whom they are given. Our belief is that the communities in which we operate should benefit from more than our services and products- which is why we support projects that are sustainable and whose impact will reach several members of that community”, Sekabembe said.


KCCA Executive Director applauded dfcu Bank for making an investment whose benefits will extend to countless members of the Owino and Kisenyi communities- over a significant period of time.


“On behalf of the Kampala Capital City Authority, I extend our gratitude to dfcu Bank for this generous gesture that will play an invaluable role in the education of numerous students over the years.”


“As we strive for all round development of our city, we both appreciate and recognize the power of partnerships in getting there. I guarantee that this contribution will achieve its intended purpose of transforming the recipient communities.”

dfcu Limited releases consolidated interim Financial Results


dfcu Limited has released its 2017 consolidated interim financial results- showing a 69.4% growth in balance sheet from UGX 1.8 trillion in December 2016 to UGX 3.05 trillion as at June 30, 2017.
This financial position its subsidiary, dfcu Bank, among the top 3 banks in Uganda, and squarely sets the Group on the path to transforming dfcu from a niche bank to a Universal bank.
dfcu Bank's Managing Director, Juma Kisaame adddresses stakeholders during the release of dfcu Limited's release of its consolidated interim financial results as of June 30, 2017.JPG
The performance is largely attributed to the January 2017 acquisition of Crane Bank assets and assumption of liabilities by dfcu Bank that presented numerous opportunities in line with dfcu’s growth aspirations.
Highlights of our financial position as at June 30, 2017 include: 47.3% growth in total income from UGX 173 billion to UGX 255 billion. It is important to note that this includes a bargain purchase resulting from the fair valuation of the net assets acquired and the deferred obligation.A significant 62% increase in customer deposits to UGX 1.838 trillionA Profit Before Tax position of over UGX 151 billion in comparison to UGX 30 billion over the same period in 2016. A 55.5% growth in the loan book to UGX 1.31 trillion
This positive performance comes against the backdrop of the dfcu Limited Rights Issue whose terms and conditions will be published upon receipt of regulatory approvals.

dfcu Bank increases support to St. John’s Ambulance Uganda’s emergency medical services.


As part of its Responsibility & Sustainability program, dfcu Bank Uganda has today renewed its support of emergency medical services- announcing an increment in its financial contribution to St. John’s ambulance Uganda. The announcement was made during a press briefing at the St. John’s ambulance services offices on Buganda Road.

Addressing journalists at the event, dfcu Bank’s Head of Brand Marketing Communication, Jude Kansiime said the renewed commitment was the Bank’s way of increasing its support to what is a dire situation.

dfcu Bank_s Head of Brand Marketing Communication, Jude Kansiime (C) hands over fuel cards to Christine Kasirye, the National Executive Secretary, St. John_s Ambulance during the eve

dfcu Bank has been supporting the services offered by St. John’s Ambulance for the last 5 years. This support has been in the form of monthly fuel, which is a key need if an organization wishes to provide timely emergency medical services. Today, dfcu Bank is glad and honored to announce that we will both continue with and increase our contribution to this crucial service.”


“As part of the emergency support pillar under our Sustainability strategy,  I am pleased to announce that dfcu Bank will double our monthly contribution to St. John’s Ambulance Uganda- which will allow them to operate a second ambulance and in turn provide urgently needed emergency medical services to those in need,” Kansiime added.


“Lack of sufficient emergency services is one of the leading causes of death in Uganda. Less than 10% of patients are transferred to hospitals and clinics by ambulances, which results in tragedies that could have been prevented. This is why our commitment to St. John’s Ambulance is important to us as an institution- we see it as a way to give back and improve the quality of life in the communities in which we operate,” he continued.

Christine Kasirye, the National Executive Secretary, St. John’s Ambulance commended dfcu Bank for their continued and unwavering reinforcement to its operations.

“Over the last 5 years, dfcu Bank has proved itself a dedicated and stable partner to the work that we do. One of the key elements needed for the successful provision of emergency medical services is timely arrival to the scene of the emergency and thereafter to a hospital or clinic. The monthly fuel contributions from dfcu Bank have helped us save countless lives,” Ms. Kasirye said.

dfcu Bank_s Head of Brand Marketing Communication, Jude Kansiime (L) hands over a dummy cheque to Christine Kasirye, the National Executive Secretary, St. John_s Ambulance after maki

“By providing fuel for a second ambulance, dfcu Bank is giving us the ability and means to reach more patients, provide urgent medical aid and as a result, save more lives. On behalf of St. John’s Ambulance, I extend our gratitude to the management of dfcu Bank for their pro-active support of emergency medical services,” Ms. Kasirye concluded.


With the increased funding, dfcu Bank’s contribution to St. John’s Ambulance will add up to UGX 24,000,000/- per year.

dfcu Bank to support renovation of Pece stadium for 2017 edition of East African Secondary School Games



dfcu Bank handed over 1,000 bags of cement valued at over UGX 30 million that will go towards the rehabilitation of Pece War Memorial Stadium in preparation for the 2017 edition of the East African Secondary School Games. The handover, which was made to representatives of Gulu District took place at Pece War Memorial Stadium.

Over 1,000 schools are expected to take part in the 16th edition of the East African Secondary School Games and will be hosted by St Joseph College, Layibi and Sacred Heart Girls School. The students are expected to take part in a variety of indoor and outdoor games including football, rugby, netball, basketball, volleyball, handball, hockey, chess, swimming and badminton.

IMG_20170717_130144 (1)

Speaking at the handover ceremony, the dfcu Bank Northern Regional Manager Christopher Kinyera said the contribution to the renovation of the stadium was a display of the Bank’s commitment to the development of the communities in which it operates.


dfcu Bank holds the growth of our communities in high regard- we believe that we have a responsibility to help our society make socio-economic advancements that in turn, benefit us all,” Kinyera said.


“This contribution is going to help with the renovation of Pece Stadium where these regional games will take place, and we are honored to be part of this because we understand the power of sports in Uganda.

We are aware that the people of Gulu are passionate about sports- partnered with their great hospitality, we are confident that this is the perfect venue for an activity of this magnitude. We are excited to be a part of this,” he concluded. The games are scheduled for August this year

Battle For Cash with DFCU Bank


dfcu Bank, in partnership with NTV Uganda and Price Waterhouse Coopers (PwC) launched a nationwide campaign targeted at driving a savings and investment culture in Uganda. The campaign, which will run – in part as a TV show competition dubbed ‘Battle for Cash’ was launched at the Kampala Serena Hotel with the media fraternity having the first hands-on experience.

Compared to the countries in the region, Uganda has the lowest savings to GDP ratio, which is at 13.48 per cent of GDP with majority of the population being un-banked. According to the Uganda Bureau of Statistics, only 12% of the population have bank accounts while research shows that Ugandans save less than 5% of their monthly earnings as compared to other East African countries (Kenya 23%; Tanzania 13% Rwanda 18%).


The low savings rates are largely a result of traditional banking remaining out of reach for most due to factors like; inadequate financial services; financial illiteracy; physical distance from banking institutions and high minimum deposit and balance requirements, limiting access to banking services. But banks have taken huge strides in addressing these shortcomings by recognizing the potential and are introducing resourceful methods of bringing them back into the formal economy by introducing several innovative products and services.


As part of several efforts to promote a savings culture in Uganda, dfcu Bank introduced the Investment Clubs program in 2007 providing a conducive platform to foster group savings. The dfcu Bank program has since grown with over 10,000 Investment Clubs that cut across all segments including students, the professionals, women, youths holding a savings turnover of over UGX 400 billion.

dfcu Bank, Battle for Cash Campaign judges, Joseph Kasaija, Ann Kyohairwe and Adam Sengoba, address the media during the campaign launch at Serena Hotel.

The Judges that will adjudicate Battle For Cash

It is against this background that dfcu Bank has collaborated with NTV and PwC to start a competition to encourage its customers to grow their savings portfolio. The ‘Battle for Cash,’ challenge will provide a free platform to Investment Clubs to show case their success stories over a period of six (6) months. Additionally clubs who are able to present innovative investment ideas and demonstrate the ability to consistently pool savings towards the realization of their objective for a minimum period of six months will be eligible to enter the competition. They will have the opportunity to show case their ideas and investment projects on NTV Uganda.


According to the dfcu Bank Executive Director and Chief of Business William Sekabembe, two special categories of women and youth have been included. Clubs with 100% composition of these special groups will apply to enter the competition and into a special category for Women Clubs & Youth increasing their chances of winning. “We are putting a lot of emphasis on these two categories because we believe they play a major role in the development of communities and Uganda as a whole,” he added.

dfcu Bank Executive Director and Chief of Business, William Sekabembe giving a speech during the launch of Battle for Cash campaign at Serena Hotel.

William Sekabambe Chief of business at DFCU

An amount totaling up to UGX 100 million in prize money has been set aside for the best Investment Clubs. Additionally, one delegate from each of the 20 selected clubs that will enter the competition will be sponsored to attend a study tour in Nairobi to share experiences, network, and widen their knowledge and contacts. This as the top seven (7) clubs will receive free advisory services for a period of one (1) year.

Lady Luck hits Soroti & Pallisa



Through the Anglican Church Deaconry, dfcu Bank Uganda handed over food relief to people in the Pallisa and Soroti communities. The food donation was to 1000 families in the Teso Sub region specifically in the areas of Gweri Sub County (Soroti) and Kasodo Village (Pallisa).

According to Micheal Mwesigwa, the Head of Sales dfcu Bank the food items included 5000Kgs of polished maize flour plus 2000kgs of beans enabling each family to take home 5kgs of posho and 2kgs of beans.

dfcu staff members and community leaders handover food to people in Soroti

“One of the focus areas under the dfcu Bank responsibility and sustainability programme is the response to relief needs of the community. This is just one of the ways we are identifying with and reaching out to the Teso community during their time of need.” he said.

The venerable Reverend Daniel Etatai the Arch Deacon of Pallisa commended dfcu Bank for the support and pledged to exercise maximum integrity and transparency when distributing the items to vulnerable groups.

As a result of widespread drought, parts of Northern Uganda have been experiencing famine leaving people in many communities with little or nothing to eat. People are welcoming all the help they can get to feed their families.

dfcu staff and community leaders handover food to people in Soroti 2

“We are grateful for such a thoughtful act from dfcu Bank. The food we have been given will be used to feed our children. We hope we can get more help from other people,” said one of the recipients of the aid.


Dfcu Bank set to hold business clinics for SME clients

dfcu Bank, in partnership with Enterprise Uganda,announced at a press conference that it will hold 12 business clinics for its Small and Medium Enterprise (SME) customers.


The announcement was made during a press briefing which also doubled as the first training session at Mackinnon Suites.

The clinics will be held over the course of the next six months and will centre on growing the skillsets of the beneficiaries.


They will also focus on the five functional areas of a business; Marketing, Finance, Human
Resource, Strategic planning and Operations.

The announcement comes a week after dfcu Bank was unveiled as the main sponsor of the 2017 Top mid-sized Companies’ Survey.
Speaking at the press briefing, the dfcu Bank Managing Director, Juma Kisaame said the
Business Clinics were part of the Bank’s strategy to empower the SME business community.
“Using the M-S-F Model, Enterprise Uganda will provide both practical and theoretical training
to our SME clients. These training sessions will cater to 35-40 people per session and will cover various aspects related to operating a successful business operation. For the next six months, we will mobilize our customers to attend two training sessions each month- and our expectation is that they will be better equipped to manage their businesses,” Kisaame said.


Kisaame emphasized the Bank’s commitment to the Ugandan market saying, “dfcu Bank is
firmly dedicated to offering tailor-made solutions to our clients with the belief that in turn, they
will help them grow both their personal and business investments. The Business Clinics will cover a range of topics including marketing, branding, human resource management and
several more, which we believe will offer invaluable learnings to business owners and managers.”
Kisaame concluded by saying all participants in the clinics would be required to create action
plans- which would be used during the advisory sessions scheduled to take place a month after the completion of the clinics.

Hillary Ndugutse wins the 2017 Netherlands Business Golf Cup

Golfer Hillary Ndugutse emerged winner of the 2017 Netherlands Business Golf Cup at the par 72 Kitante Golf Course in Kampala. Ndugutse, a seasoned golfer and businessperson registered a score of 41 points to win this year’s Netherlands Business Golf Cup. 

Results from the Tournament and the participants that teed off

The Netherlands Business Golf Cup is an annual golf tournament that is sponsored by dfcu Bank in partnership with the Dutch Embassy, KLM airlines, VIVO energy, Unilever and Shares (U) Ltd. The tournament brings together members of Uganda’s business community in both the public and private sector to provide a networking opportunity with Dutch affiliated businesses.

After a grueling 18-hole thriller, Ndugutse emerged as the unrivalled champion to lift his first Netherlands Business Golf Cup trophy. Over 200 participants teed off at this year’s Netherlands Business Golf Cup on a sunny Saturday morning at the Kitante Golf Club. Golfers networked with their competitors from various business backgrounds as they played 18 holes on one of Uganda’s toughest golf courses as well as. 

Golfer Hillary Ndugutse receiving his goodies

Later in the evening, businessmen and women were treated to a dinner and awards ceremony at the Uganda Golf Club, to recognize the outstanding players of the tournament.
Speaking at the awards ceremony, dfcu’s Chief Transformation Officer, Paul van Apeldoorn reiterated the need to have more networking opportunities for the Ugandan business community to provide opportunities for investments in and out of Uganda. 

“With initiatives such as the Netherlands Business Golf Cup we hope to expand our business opportunities not only in Uganda but beyond borders. We take advantage of such moments to use the great sport of golf to network on and off the green.” He said. 

There was joy as the day’s champion was awarded for his outstanding stroke and drive that enabled him to win the 2017 Netherlands Business Golf Cup.

“Winning this year’s Netherlands Business Golf Cup is a great achievement to me. I worked on my stroke and managed to steady the ship all the way to the last hole. I am thankful for the tournament sponsors and will surely be back next year to defend my trophy.” Ndugutse said.

Other outstanding players included; Candy Mpanga who emerged winner in the women’s category.