Tuesday , March 31 2020
Home / News / Kagugube saved Centenary Bank from collapse – Uganda Episcopal Conference

Kagugube saved Centenary Bank from collapse – Uganda Episcopal Conference

The late Dr Simon Kagugube

Kampala, Uganda  | THE INDEPENDENT | In its tribute to Dr Simon Kagugube who died on Saturday, the Uganda Episcopal Conference has said if it wasn’t for him, Centenary Bank would be no more.

Kagugube, 65, has been an executive at Centenary bank for the last 17 years. He was picked by the Episcopal Conference, which is the largest shareholder in the bank, to turn it around at a time when many financial institutions were facing challenges in the country.

Monsignor John Baptist Kauta, the Secretary-General of the Uganda episcopal conference, which brings together all the bishops in the country told the requiem mass at St Charles Lwanga Catholic Church, Ntinda on Monday that Kagugube was instrumental at the time when many banks were collapsing either because of poor corporate governance or due to failure to align their businesses with the local needs.

Kauta said Kagugube “found the bank struggling with sensitive legal issues” and helped to resolve them.

Kauta said he helped in the restructuring of the shareholding of the bank and laid the foundation for its operations which it still rides on today.

Francis Kamulegeya, the managing partner of PricewaterhouseCoopers-PwC, said Kagugube started getting problems with his health on February 1, 2020.  He was then moved into different health facilities, including Victoria Hospital, Uganda Heart Institute, and Nakasero Hospital. His complications were related to the heart, Kamulegeya said.

Centenary Bank Managing Director Fabian Kasi said Kagugube inspired staff. He said he was a great leader, cared about others, and intentionally built relationships in communities he went.

The Bishop of Kasana-Luweero Diocese Paul Semwogerere who led the requiem mass said Kagugube was a happy man and he should be seen like that.

Dr Kagugube previously worked as a tax expert at audit firm PricewaterhouseCoopers (PWC). He was also board chairperson of Uganda Revenue Authority and Monitor Publications Limited.

His body will be transferred to his ancestral home in Mityana today and he will be buried on Tuesday.




Leave a Reply

Your email address will not be published. Required fields are marked *