Technocrats praise Mutebile

Technocrats in various sectors of the economy have paid tribute to Bank of Uganda Governor Emmanuel Tumusiime-Mutebile who died in Nairobi Hospital yesterday morning.

“He was a great man, a genius, a reformer, a highly courageous man, and above all a great and friendly manager,” said Mr Keith Muhakanizi, a former permanent secretary and secretary to the Treasury at the Finance ministry.

Mr Muhakanizi, who is now permanent secretary at the Office of the Prime Minister, said Mr Mutebile recruited him straight out of Makerere University.

He said the Governor played a huge role in setting up the NRM government’s economic foundation.

“For example, in the late 1989 and early 1990s, everybody was afraid of reforms and because of that it was refused. But with him at the helm and with the support of President Museveni, we embraced those economic reforms,” he said.

“Indeed, it turned the fortune of the economy around even up to today. For that, I thank him for a job well done.”

He added: “As a result of these policy reforms, inflation that was above 400 percent came down to 10 percent. The reforms also stabilised the economy. We have had the greatest economic growth period so far in our entire history. Had it not been because of the high population growth, I can tell you without fear of contradiction that our per-capita incomes would be one of the highest and we would [have] middle-income status.”

According to Mr Muhakanizi, Mr Mutebile helped drive economic liberalisation policies, including promotion of free trade, deregulation, elimination of subsidies, price controls and rationing systems, downsizing or privatisation of public services.

Mr Adam Mugume, the director in charge of research at Bank of Uganda, eulogised his former boss in an email to this newspaper.

“I have worked closely with him for almost 15 years. I can describe him as an extremely intelligent person and a man of integrity. He built trust with us who reported to him and consequently delegated effectively. He treated all people with respect and dignity, and he was full of empathy.

 “His management style was simple: don’t take a problem to him without a proposed solution. He never entertained gossip. He was a man whose decisions were driven by facts, not rumours or gossip. He never allowed tribal or religious divisions.”

Those who worked with Mutebile at the Finance ministry and Bank of Uganda said he held strong views and was not afraid to voice them.

For instance, he was opposed to plans to split the Ministry of Planning from Finance, noting that the two go together. He also opposed the Buy Uganda, Build Uganda (BUBU) concept, saying it doesn’t augur well with the EAC regional integration agenda.

It was also under his reign at the Ministry of Finance that fiscal discipline was instituted. This was in addition to having the budget debated by the public before it is owned by the Executive.

In his eulogy, Dr Patrick Njoroge, Governor of the Central Bank of Kenya, said Mutebile led Bank of Uganda with distinction during a critical time and helped Uganda transition to a market-led economy.

East Africa accomplishments

“Crucially, he led the transformation of the Bank of Uganda, including anchoring its independence in the Constitution. He also worked tirelessly to forge closer links within the East African Community, working with his fellow Central Bank Governors to harmonise policies leading to implementation of the East African Monetary Union,” Dr Njoroge said yesterday.

Mr Wilbrod Humphreys Owor, the head of Uganda Bankers Association, said Mutebile will be remembered for prevailing over numerous economic and banking sector reforms and for competently managing monetary policy matters.

 Bank of Tanzania Governor Prof Florens Luoga said Tumusiime-Mutebile will be fondly remembered for his contribution in making Bank of Uganda one of the leading central banks in the region in autonomy, executing its mandate and use of technology. He also praised his contribution to the East African Community’s Monetary Affairs Committee.

Veteran economist and politician Yonasani Kanyomozi said: “Above everything else I respected him as a person.”

Tentative burial programme

• Body to be flown back from Nairobi into the country tomorrow (Tuesday)
• Vigil to be held at his Kololo home on Wednesday
• Yet to confirm with Parliament leadership on whether his body lies in State for a Parliamentary session on Thursday morning at 10am.
• Official funeral service at Kololo Independence Grounds on Friday, thereafter, the body will be taken to Kabale over the weekend.
• Tentative burial on Monday next week in Kabale District.

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