<a target="_blank" href="https://www.health.go.ug/covid" rel="noopener"></a>By Our Reporter
PostBank Uganda spends grossly over Shs2.5 billion on payment of salaries for staff each month.
In net earnings, the bank which is owned by the government of Uganda coughs over Shs1.7 billion.
While the total monthly salary paid might look juicy, a mother of rifts is brewing among employees of the bank after the full list of salaries for staff members leaked with majority left feeling like they are earning only worth of a rat-milkshake per month.
MD Julius Kakeeto is the highest earner
This list is in our possession and is reproduced below.
Most of the staff members earn below Shs1 million. And these, sadly, believe they do most of the work.
The Managing Director, Mr. Julius Kakeeto is unsurprisingly the highest earner on a monthly gross salary of over Shs40 million.The least earner takes home less than Shs400k.
It’s such disparities that have caused friction among staff with many demanding not only answers but more money.Our insider source tells us that since the salary list leaked a few weeks ago, most employees’ attitude towards work has deteriorated with commitment hitting an all time low.
“It’s unfortunate really. Most staff who do the donkey work are actually paid like dogs. It’s unfair and employees are saying enough is enough,” said a source.
We sought out the opinion of the bank’s Head of Public Relations and Marketing, Ms Doreen Nyiramugisha on the alleged disparities.And she clarified the bank’s position on this issue in a statement:
“In October 2019, Julius Kakeeto, an experienced banker, who had just turned around Orient Bank, nearly doubling its assets and reversing its losses, was hired by the board to lead PostBank’s turnaround.
Following his hiring, a consultant, TrueNorth Africa, was hired to review the entire business- its operations and how it could be reorganised to deliver better on its mandate.
Following the review, it was recommended that the bank needed to restructure itself holistically.
“Amongst the recommendations of the review, was that, for the bank to achieve its aspirations and move forward, it needed to restructure itself. This would involve, retaining some roles, scrapping others as well as merging some and creating new ones altogether,” Kakeeto says.
With the review and the restructuring also came a new strategy, aligned to the bank’s core mandate of being the country’s foremost financially inclusive financial services institution.”
The bank’s top managers including the MD Kakeeto and HR director Judy Kikonyogo
PostBank which is fully owned by the government of Uganda had total assets worth US$135.33 million (UGX:491 billion), with US$86.4 million (UGX:314 billion), in depositor funds as of December 2019.
Here, we reproduce the salary list….