PROFILE: Who is Michael Atingi-Ego, the new Bank of Uganda Governor

Dr Michael Atingi-Ego is a Ugandan economist, and Governor of the Bank of Uganda. At the time of his appointment (February 2025, he served as the Acting Governor and Deputy of the Central Bank of Uganda since the demise of then Govenor Emmanuel Mutebile

KAMPALA, UGANDA: Dr Michael Atingi-Ego was Monday confirmed as the substantial Bank of Uganda (BoU) Governor, an appointment that came nearly three years after serving in the same position in an acting capacity.

The appointment, made public on Monday, February 10, also saw Prof. Augustus Nuwagaba appointed new Deputy Governor, taking on Dr Atingi-Ego’s position as the latter climbs to the full Governor position.

The 60-year-old Atingi-Ego was appointed Deputy Governor in March 2020, and was two years later appointed acting Governor after the unfortunate death of the late Emmanuel Tumusiime-Mutebile in January 2022.

Atingi-Ego, a seasoned economist with extensive experience in central banking and financial policy, was previously executive director of the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI), based in Harare, Zimbabwe before joining the Bank of Uganda as Deputy Governor.

Below is his Profile Background

Born in 1965, Michael Atingi-Ego attended local primary and secondary schools. He holds a bachelor’s degree in Economics from Makerere University, Uganda’s oldest and largest public university.

Dr Atingi-Ego is also a holder of Degree of Master of Arts in Economics, awarded by the Cardiff Business School, in the United Kingdom (UK) and a Doctor of Philosophy degree, also in Economics, obtained from the University of Liverpool, in the UK.

Economic Career

Atingi-Ego started out his economics career at the Bank of Uganda where he held key positions right from the graduate trainee level. He rose through the ranks to become the executive director, of Research.

In 2008, Atingi-Ego took up an assignment with the International Monetary Fund (IMF) as deputy director of the African Department (AFR), based in Washington, DC. In September 2018, he was appointed as executive director at the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI), based in Harare, Zimbabwe.

In 2020, President Museveni appointed Dr Atingi-Ego as the new Deputy Governor, replacing then-embattled Dr Louis Kasekende, whose 10-year term at the central bank ended in January 2020. The former assumed office as Deputy to the late Mutebile on 3 August 2020.

Other Key Considerations

Atingi-Ego is credited with bringing a wealth of regional and international experience during his time as Deputy Governor of the Bank of Uganda and is expected to do the same after his elevation to full Governor position.

While at the IMF, he contributed to IMF work on increasing the effectiveness of capacity development and in modernising monetary policy frameworks in developing countries.

In May 2022, Atingi-Ego was recognized by African Banker Magazine as the “Central Bank Governor Of The Year”, in recognition of his efforts to tame inflation and maintain foreign exchange stability in Uganda.

Congratulations Dr Michael Atingi-Ego upon your appointment as Governor Bank of Uganda!