By Our Reporter
Kampala: After Tullow Oil Uganda being fire it’s MD in the way of transferring him out of the country and appointed Mariam Nampeera as the new Managing Director after Tullow Oil placed Jimmy Mugerwa to its headquarters in London.
“For give Tullow Oil Company and think for new achievements” since ‘Mariam’ have been working with Tullow Oil company for about six years and above as its lead counsel for both the company’s operations in Uganda and Kenya, so I promise to deliver more fruits in the basket.
Reports indicated that, the reasons for Mugerwa recall to London is as a result of the bad image in public he has been attracting as Dfcu bank’s board chairman.
According to sources, has been tarnishing Tullow Oil’s international image and Mariam to replacing him, the company thinks its image will be redeemed but also hopes she will help the company manage its farm down in Uganda, the processes undergoing negotiations with government.
Mugerwa had been under pressure to stop publicity coming from DFCU Bank after it acquired Crane Bank Limited with no success. Last month while addressing guests at the 3rd annual Ugandan Bankers’ Conference urged government to reign on local media that reports negatively about him and DFCU bank.
Mugerwa got the good job because of his experience as a top manager at Shell and his expertise in government relations, which Tullow needed badly.
*_Who is Jimmy Mugerwa_*
Mugerwa who previously worked in Shell’s East Africa business where he was General Manager of Sales & Operations and served as Shell Kenya Country Chairman, a position he has held since October 2009, has however had a rough corporate ride both at Tullow and Dfcu.
*_How Mugerwa becomes Tullow Oil managing director_*
Mugerwa was appointed Tullow Oil General Manager when the partners within the Lake Albert Basin were about to embark on a major oil development which would see Uganda enter the league of oil producing nations.
However Mugerwa’s stewardship at Tullow Oil Uganda has not achieved much, with the farm down facing challenges.
As chairman Dfcu bank, Mugerwa helped the bank to acquire Crane Bank Limited, which has since become a controversial move, leading to the resignation former MD Juma Kisaame.
The investigation by the Auditor General and the probe by Uganda Parliament on the seven banks closed by the Bank of Uganda, unmasked Dfcu bank as a player in fraudulent transactions that led to the purchase of assets of Crane Bank Limited and Global Trust Bank Uganda in January 2017 and 2014 respectively.
*_Why Mugerwa insisted and fear the media_*
The bad press that followed Dfcu and Bank of Uganda left the chairman of the Dfcu board and other top bank management open to professional criticism over their judgement and decisions taken.
Mugerwa has also a number of managerial positions within Shell’s business across Ghana, South Africa, Kenya, Uganda and the Netherlands – and had not attracted such negative press until he landed in Uganda.
However the negative press also has been largely about his association with Dfcu and less about Tullow Oil. This could actually inform Tullow Oil’s decision to transfer him, and offer the captainship of Tullow to a new executive.