Who is Adan Mugume, the ‘acting’ Bank of Uganda Deputy Governor? Although appointed to fulfil the duties of the Office of the Deputy Governor, Dr. Adam Mugume is technically not an Acting Deputy Governor as the president is the only constitutional authority that appoints the Governor and his deputy.

In exercise of the duties and powers of the Board under Section 10 of the Bank of Uganda Act (Chapter 51), the Board Members of the Bank of Uganda, at a Special Meeting held on 27th March 2020, unanimously resolved to designate Dr. Adam Mugume to perform the executive functions of the Office of the Deputy Governor until a substantive Deputy Governor is appointed.

The appointment, according to a notice by James Kahooza, the presiding chairman of the meeting takes immediate effect.

Dr. Mugume’s appointment follows the expiry of Dr. Louis Kasekende’s contract on January 14^th, 2020 and the subsequent two-month vacuum as the President, who is the only constitutional appointing authority of the Governor and Deputy Governor, is yet to appoint a substantive Deputy Governor.

But who is Dr. Adam Mugume?

Dr. Adam Mugume is a seasoned economist with many years of experience in Central Banking and academia.

A former head of the Department of Economic Theory and Analysis at Makerere University, in 2007, Dr. Mugume re-joined Bank of Uganda in the Economic Research Department, where he headed the Modelling and Forecasting Division. He has since risen to head the Research and Policy Directorate.

He is credited for transforming monetary policy and was instrumental in helping Central Bank introduce the Inflation Targeting framework, which was adopted in July 2011.

Dr. Mugume holds a Ph.D. in Economics from Oxford University; a Masters in Economics from the University of Botswana and a Bachelors in Economics from Makerere University.