Miriam Ekirapa Musaali, a distinguished corporate lawyer, governance expert, and Director of Legal and Board Affairs at the Capital Markets Authority (CMA) Uganda, has passed on.
She has reportedly succumbed to cancer in Nairobi, where she had gone to seek medical care, our medical sources say.
Musaali was widely respected as one of Uganda’s finest minds in corporate finance law, capital markets regulation, and institutional governance.
Over nearly two decades, she built a formidable career defined by integrity, intellectual depth, and an unwavering commitment to strengthening Uganda’s financial markets.
A Cambridge-trained lawyer who earned her Master of Laws (LL.M) in Commercial Law with First Class Honours, Musaali combined world-class academic grounding with practical leadership.
She broke her corporate finance law teeth at the Capital Markets Authority (CMA) in January 2005 as a Legal and Compliance Assistant and rose all the way, through several roles, to become Director, Capital Markets Supervision in 12 years.
In July 2018, she joined the private sector as Chief Operating Officer and later Acting Chief Executive Officer at Zamara Actuaries, Administrators and Consultants Uganda Limited (formerly Alexander Forbes Uganda).
She left Zamara in August 2020 and briefly practised as a private lawyer at Ekirapa & Co. Advocates before rejoining CMA as Director Legal and Board Affairs in November 2020.
Beyond her titles, Musaali was admired for her quiet strength, warmth, humility, and devotion to mentorship. As a Certified John Maxwell Speaker, Trainer, and Coach, she invested heavily in developing young professionals—especially women—within the legal, governance, and financial services ecosystems.
Anastacia Tshesane to become PwC SA CEOThose who worked with her speak of a leader who carried immense intellect with grace, always prioritising diligence, fairness, and ethical clarity.
Her passing leaves a profound void in Uganda’s corporate governance and financial regulation landscape.
Tributes are already pouring in from across the legal fraternity, pensions sector, financial institutions, and the capital markets community, with many describing her death as a loss not only to Uganda but to the region’s broader professional fabric.
Funeral and burial arrangements are expected to be communicated by the family in due course.
Miriam Ekirapa Musaali leaves behind a legacy defined by brilliance, discipline, service, and a lasting influence on Uganda’s capital markets and governance standards.
May her soul rest in eternal peace.
