Development Finance Company of Uganda appoints Mr. Jimmy Douglas Mugerwa and Dr. Echookit Christine to the Board

The Board of Directors of dfcu Limited (“the Company”) is pleased to inform its shareholders and the general public that the following appointments have been made with immediate effect to fill the casual vacancies created on the Board:

Mr. Jimmy Douglas Mugerwa has been appointed as a director in the Company and Chairman Board of Directors to fill a casual vacancy following the early retirement of Dr. Elly Karuhanga. Mr. Jimmy D. Mugerwa is a Senior Business leader with over 27 years experience across Africa and Europe. He has a strong background in Government relations as well as highly developed commercial skills.

Until recently Jimmy, was the Chairman dfcu Bank Limited, Group Africa Advisor/ Chair Uganda for Tullow Oil Plc in London and Managing director for Tullow Oil in Uganda for 8 years. Prior to this, he worked for over 19 years for Royal Dutch Shell in senior business leadership positions across several countries in Africa and Europe, including being the Senior regional advisor for Sub Saharan Africa; Shell Africa Retail Marketing manager; General Manager for Shell East Africa/ Country Chair for Kenya Shell; Retail Manager in Ghana.

He is an experienced Independent Non-Executive Director and Chair serving on several boards including Mengo Hospital, Jubilee Allianz Insurance Company Company, East African Breweries, Uganda Breweries Limited, and Buganda Investments and Commercial Undertakings.

Dr. Echookit Akello Christine has been appointed as a director in the Company to fill a casual vacancy following the resignation of Mr. Albert Jonkergouw. Dr. Echookit Akello Christine is an advocate of the Courts of Judicature in Uganda and holds a PhD in Business and Economics, with a Board Changes with a major in Coaching and Leadership. She is a Fellow of the Chartered Governance Institute of the United Kingdom (formerly “Institute of Chartered Secretaries & Administrators” or ICSA). She holds a Master of Business Administration(MBA) and a Master of Laws (LL.M).

She previously served as the Deputy Executive Director of NEMA providing leadership, corporate and strategic guidance, as well as advising on organizational strategic positioning and functionality, organizational culture and organisational structure.

She possesses 24 years working experience having served in various entities including NEMA, URA, UCB (currently Stanbic Bank) and Uganda Industrial Properties Limited.

The Board takes this opportunity to welcome Mr. Jimmy D. Mugerwa and Dr. Echookit Akello Christine to the Board of Directors of the Company.

RESIGNATION
The Board of Directors of dfcu Limited (“the Company”) informs its shareholders and the general public of the resignation with immediate effect of Mr. Albert Jonkergouw as a Director in the Company. Mr. Albert Jonkergouw has resigned due to regulatory requirements at the subsidiary dfcu Bank Limited, where he remains a Director. The Board takes this opportunity to appreciate the commitment and invaluable contribution made by Mr. Albert Jonkergouw during his tenure as a Director in dfcu Limited.

By Order of the Board

Ligomarc Advocates

Company Secretary

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