By Gilbert Akampa Kakurugu
NATIONAL
In a strategic move to restore confidence in Uganda’s banking sector, President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the new Governor and Prof. Augustus Nuwagaba as the Deputy Governor of the Bank of Uganda (BoU). This announcement comes in the wake of a $60 billion financial crisis that has rattled the nation.
The appointments, announced by the Presidential Press Unit, were made in accordance with the powers vested in the President by Article 161(2) and (3)(a) of the 1995 Constitution. Faruk Kirunda the Special Presidential Assistant in charge of press and mobilization confirmed the news. “The names and CVs of the newly appointed officials have been submitted to Parliament for approval” said Kirunda.
BOU Governor position has been vacant since the death of Professor Emmanuel Tumusiime Mutebile on January 23rd, 2022 after serving in the same position from 2001.
Dr. Michael Atingi-Ego steps into his new role with a wealth of experience in economic policy and financial management. Before his recent appointment as Deputy Governor in 2020, Dr. Atingi-Ego served as the Executive Director of Macroeconomics and Financial Management at the Institute of Eastern and Southern Africa, based in Harare, Zimbabwe. His extensive background includes stints at the Bank of Uganda as Executive Director in charge of research and at the International Monetary Fund in 2008.
Dr. Atingi-Ego’s academic credentials are equally impressive. He holds a master’s degree from Cardiff Business School, University of Wales, and a PhD from Liverpool University. His deep knowledge of regional macroeconomic and financial issues equips him with the expertise needed to steer the BoU through these turbulent times.
Prof. Augustus Nuwagaba, an international consultant on economic transformation, brings a diverse set of skills to his new role as Deputy Governor. With an MBA focusing on central bank monetary policy and commercial bank competitiveness, Prof. Nuwagaba has a rich history of analyzing fiscal metrics for African governments and reviewing financial performance.
Prof. Nuwagaba’s career includes significant contributions to various high-profile projects and organizations. He has been a consultant for the African Peer Review Mechanism under NEPAD, a member of the African Regional Panel of Experts on Development, and part of the World Bank Consultative Group that developed the African Plan of Action. His academic achievements include a Master’s degree from the London School of Economics and a Doctor of Philosophy from Makerere University, with a specialization in Economics, Inclusive Growth, and Poverty Eradication.
