Museveni extends Mutebile’s contract by five years

Monday January 18 2021
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Bank of Uganda governor Mr Emanuel Tumusiime Mutebile. PHOTO/FILE.

By Dorothy Nakaweesi

President Museveni has extended Mr Emmanuel Mutebile’s contract as Bank of Uganda governor for another five years.

Mr Mutebile’s contract is said to have been extended on the eve of Election Day last Wednesday.

Sources within Bank of Uganda, who preferred anonymity because they are not allowed to comment on the matter on behalf of BoU, told Daily Monitor the contract had been renewed on Wednesday but details were not communicated because of Internet shutdown in Uganda.

"Yes! Governor Mutebile's contract was renewed on Wednesday last week but because of the holidays and Internet shutdown, communication could not trickle through," the source said.

Ms Charity Mugumya, the Bank of Uganda director for communications, was not available for a comment because she is currently on leave.

The Acting Director communications at BoU, Mr Kelvin Kiyingi confirmed the development.


"We have learnt that the president has re-appointed Prof Emmanuel Mutebile as governor bank of Uganda for the next five years," he said.

He added that Mr Mutebile will be appearing before the Parliamentary  Committee for approval. 

Mutebile, 71, has been at the helm of Bank of Uganda since 2001. The new term makes him one of the longest serving governors of the Central Bank.

Meanwhile, in an internal memo seen by Daily Monitor, Deputy Governor Michael Atingi-Ego, has transferred and appointed several officials to fill mid-level management positions.

“I have agreed with the governor on the following staff transfers and appointments in order to enhance operational efficiency of the Bank,” he said in a memo that has effected 18 transfers and appointments. 

Bank of Uganda has been going through a number of reorganisations, in which it has recruited and filled vacant positions at both mid-level and top-level management.

For instance, in April last year, Bank of Uganda sought to replace seven officials at the level of director and executive director, in an internal process, which had limited applicants to candidates that had previously served at the level of directors or head of division within the Central Bank.

“Applications are invited from suitably qualified candidates for positions due to fall vacant,” an internal memo said then, listing seven positions, many of which would fall vacant as a result of retirement.

The memo indicated that Bank of Uganda sought to positions of director medical, which was then occupied by Mr Tendo Nsereko, director non-banking financial institutions, occupied then by Charles Okello, executive director information technology, occupied then by Mr Elliot Mwebya and executive director operations, occupied by Ms Mary Katarikawe.

The four had all been expected to retire last year.

Other positions had include director financial markets, which was vacated by Mr Stephen Mulema and director financial stability, which had been occupied by Mr Kenneth Egesa.

The two had already left the Central Bank and joined the International Monetary Fund on secondment.

No details have since been provided about the process. But sources within the Central Bank had told Daily Monitor that the recruitment had been halted due to some irregularities, whose details Daily Monitor could not readily verify.

Full list

Mr Jimmy Apaa, from director economic research to deputy director communication

Dr Bazinzi Nantamba from assistant director current to assistant director communications

Mr Andrew Kawere from deputy director non-bank financial institutions to deputy director national payment systems

Mr James Bukulu from deputy director commercial banking to deputy director payment systems

Ms Gloria Gasasira from secondment to the IMF to assistant financial stability

Mr Kizito Bisaso from deputy director national payment systems to deputy director commercial banking

Ms Saudah Kakungulu from deputy director human resource to deputy director security

Ms Angela Kasirye-Katete from deputy director communications to deputy director human resource

Ms Hajara Kasule Mawanda from deputy director security to deputy director administrative services

Mr Innocent Muhwezi from deputy director administrative services to deputy director procurement and disposal

Mr Alex Lwanja from deputy director strategy and quality assurance to deputy director agricultural credit facility

Ms Solome Lumala from secondment (World Bank) to deputy economic research

Mr Kelvin Kizito-Kiyingi from deputy director communications to deputy risk and compliance

Ms Alice Lule Nalweyiso from deputy director risk and compliance to deputy director procurement and disposal

Mr Lawrence Olobo from assistant director national payment systems to assistant director banking

Mr Deborah Mugabi from deputy director procurement and disposal to deputy director strategy and quality assurance

Ms Denise Mugyenyi Ayume from SPBO economic research to assistant director board affairs