Prof. Emmanuel Tumusiime-Mutebile, Bank of Uganda’s longest-serving Governor and Chairman of the Board of Directors, since 2001, has died. He was aged 72 years. Born on January 27th, 1949, he has died 4 days before his birthday. Details of his passing are yet to unveil, but according to various sources, he has been unwell and admitted to Aghakhan Hospital, Nairobi on life support. He passed on around 05:00 am this morning. A few weeks ago, he was evacuated to Nairobi by air ambulance, in very critical condition. A seasoned professional economist and reformer, he spearheaded the design and implementation of…
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News coming in from the President’s Office indicate that President Yoweri Kaguta Museveni has in line with Article 161(3) of the Constitution of the Republic of Uganda, reappointed Prof. Emmanuel Tumusiime Mutebile for another term as the Governor Bank of Uganda. The Governor is the Chief Executive Officer of the central bank and also chairs the Board, which is the highest governing authority of the bank. The Governor and deputy Governor each serve a renewable term on five years. Bank of Uganda, other than being Uganda’s central bank, it is also responsible for the formulation and implementation of the monetary…
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Bank of Uganda (BoU) is undercapitalised to a tune of UGX671.712Billion According to the Auditor General, John Muwanga this poses a risk to the Central Bank’s operations. Auditor General, John Muwanga says this financial position poses a risk to the Central Bank’s operations The details of the Central Bank’s woes are contained in the 2018/2019 audit report of Bank of Uganda which carries queries that were raised by the Auditor General’s team. The audit report highlighted that as per the Bank of Uganda Act, Section 14 (3), the issued and paid up capital of the Bank shall be a minimum…
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