NSSF praises Mutebile as pillar of economic growth

Deceased Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile

What you need to know:

  • Specifically, the  liberalisation of Uganda’s financial sector that led to the complete opening of the country’s current account and has been fundamental in transforming Uganda into an attractive destination for foreign investment.

The Board, Management and Staff of the National Social Security Fund are saddened by the untimely passing of Emmanuel Tumusiime–Mutebile.

Throughout his working life, Mutebile installed himself at the forefront of Uganda’s economic transformation.

His contributions to Uganda’s growth story are innumerable and as we look back on his life, we can trace his hand in every success story across the various industries in the Uganda’s financial sector since the 1980s.

Specifically, the  liberalisation of Uganda’s financial sector that led to the complete opening of the country’s current account and has been fundamental in transforming Uganda into an attractive destination for foreign investment.

This, alongside the various economic reforms that the former Bank of Uganda governor delicately handled kickstarted the growth of the country’s private sector and financial markets. Uganda has since then witnessed consistent economic growth that has led to similar growth of domestic savings.

Mutebile will particularly be remembered for his firm belief in the free operation of financial markets with minimal government intervention.

Such free markets are vital to ensuring that Uganda achieves sustainable growth that benefits all its people. Indeed, there is no Ugandan that has not benefited from the work of Mutebile.

We will forever be proud of his leadership and selfless efforts to grow the economy of Uganda. Without doubt, he has touched the hearts and minds of many with his intellect and understanding of markets.

At the National Social Security Fund, we will always remember your stewardship that has greatly influenced the growth of the Fund. We are forever grateful for the solid foundation built by Mutebile upon which the country will continue to grow towards the middle-income status.

We condole with your family and our colleagues at the Bank of Uganda during this trying moment of grief and bereavement with empathy and sympathy. You will forever be missed. May the almighty Lord rest your soul in eternal peace.

Burial arrangements

January  25:  Body arrives from Nairobi and proceeds to A Plus funeral home.

January 26: Vigil at the deceased’s home in Kololo, limited to close family members.

January 27: Special session at Parliament of Uganda

January 28:  Church Service at Kololo ceremonial grounds

January 30:  Church Service at Rugarama Cathedral.

Burial at Omuruhita (Kabale-Kisoro Road)


By Richard Byarugaba 

The writer is the Managing Director at National Social Security Fund

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