[2008-06-20]  dfcu hold 43rd Annual General Meeting
dfcu Limited held its 43rd Annual General Meeting for shareholders on Friday June 20th 2008. The meeting was attended by directors of both dfcu Bank and dfcu Limited. dfcu Bank is a fully-owned subsidiary of dfcu Limited.

At the meeting, shareholders approved the appointment of Ernst & Young as the new auditors of the company, replacing PriceWaterHouse Coopers. PWC have audited the company for the past 4 years and the Financial Institutions Act (2004) requires that auditors be rotated after every 4 years.

Shareholders also approved the proposed dividend of UGX 13.09 per share. This recommendation was made by the Board taking into account the need for increased investment in IT and further expansion of the branch network.

In his presentation, dfcu Bank Managing Director, Juma Kisaame shared the prospects of the bank. He outlined the bank’s growth strategy, which will see the branch network grow to 50 branches over the next five years. He added that in 2008, three out of eight new branches have already been opened.

On his part, Dr. Nkosana Moyo, dfcu Limited Board Chairman, thanked the shareholders for their keen interest in the affairs of the dfcu
Source: Copyright © 2007 dfcu Group.