Museveni Extends Mutebile’s Contract by 5 Years As BoU Governor

President Yoweri Museveni has extended the contract of Bank of Uganda governor Emmanuel Tumusiime Mutebile for another 5 years till 2026, The Daily Express has learnt.

This was confirmed by Senior Presidential Press Secretary Don Wanyama while speaking to local publisher ChimpReports.

“It’s true,” Wanyama is quoted by the publisher as having said.

Mutebile’s appointment means he gets the third term at the helm of the Ugandan central bank.

The renewal of the contract make Mr, the longest serving Governor of BoU. He has served as Governor Bank of Uganda since 2001.

He was first appointed to that position on  January 1,2001 and was re-appointed for a second five-year term on  January 1, 2006. In December 2015, he was re-appointed for a fourth five-year term, effective 12 January 12, 2016.

Mutebile is credited for the growth of the economy especially in the early 2000s that so the economic recovery of many sectors.

Between the year 1979 and 1984, Tumusiime-Mutebile was appointed to several government positions in Uganda ranging from Deputy Principal Secretary to president at the State House in 1979, to Undersecretary in the Ministry of Planning in 1981 where he rose to Senior Economist and then Chief Economist in 1984. In 1992, he was appointed Permanent Secretary to the newly combined Ministry of Finance Planning & Economic Development, a merger that he had advocated.

Meanwhile it is reported that BoU board is under spotlight for allegedly appointing Dr. Michael Atingi-Ego. According to sources, it is alleged that Dr. Atingi-Ego hid his past record when he didn’t disclose that he had previously been in prison for six months. It is however, not clear how this could have happened without his employer BoU noticing because it is alleged the offence was committed while he still worked with BoU before departing for African Development Bank.

Ating-Ego replaced Dr. Louis Kasekende whose contract ended but was never renewed. Kasekende and former executive Director in charge of Supervision Justine Bagyenda were heavily implicated in the closure of several banks by the parliamentary investigative committee that implicated them for the mess.