KAMPALA – The contract of the deputy governor Bank of Uganda, Dr. Louis Kasekende who has worked at Bank of Uganda for the last 33 years is left with just a day to expire.
The Deputy Governor’s contract ends Friday, January 10, and sources close to the appointing authority, say he will be replaced by Prof. Waswa Balunywa, the Makerere University Business School Principal, a longtime ally of the president.
That of Governor, Prof. Emmanuel Tumusiime Mutebile expires in January, 2021
President Museveni has since shown no indication of renewing Dr. Kasekende’s contract, taking a back seat in the jungle, where he is trekking with Bazzukulu, despite a reminder from the Finance Minister Matia Kasaija.
Finance minister Kasaija told The New Vision recently that “he could do nothing about Dr. Kasekende’s contract” as the matter is before the president.
“I cannot act either way without the president giving me a blessing. Ideally, the president is the minister of Finance,” Mr Kasaija was quoted by The New Vision.
During the Christmas break, the President met amiable MUBS Principal Prof. Balunywa, praising him as a good manager who has offered good direction to MUBS.
Sources close to the Presidency have told PML Daily that Prof. Balunywa will replace Dr. Kasekende, who is said to have made preparations to leave the bank.
President Museveni has been considering the next leadership changes at Bank of Uganda following a series of inquiries into the management of the central bank, first by Parliament and later by President Museveni’s State House Anti-corruption unit headed by Col. Edith Nalakalema.
Parliament’s Committee on Commissions Statutory Authorities and State Enterprises (COSESE) who investigated and unearthed a rot at Bank of Uganda had called for an immediate swoop at BoU.
COSESE noted a number of inconsistencies key among them, the declining performance of the Central Bank, closure and sale of the defunct Banks without any inventory or documentation and grossly undermining the legal procedures of bank closure by the Central Bank.
Dr. Kasekende served in different capacities before rising to the position of deputy governor in 1999.
In 2002, he left the central bank to serve at the World Bank before returning to occupy the same position.