MPs question BoU operations without Deputy Governor

Kampala, Uganda | THE INDEPENDENT | Members of Parliament are concerned about the delayed appointed of Deputy Governor Bank of Uganda, saying it will cripple the work of the institution.

The contract of the Deputy BoU Governor, Dr. Louis Kasekende expired on January 15th, 2020. However, the president is yet to appoint his replacement. Now, MPs note that the absence of a substantive Deputy BoU Governor is likely to affect the work of the central bank since he plays a critical role.

They argue that the work of the Deputy BoU Governor is currently being done by directors who also perform own duties.

Igara East MP, Michael Mawanda who raised the matter  says the delayed appointment of a new Deputy  Governor could impact on the bank’s policies and strategic direction.

He says those serving in acting capacity have their own responsibilities and cannot fully represent the Deputy Governor. The Microfinance State Minister, Haruna Kasolo Kyeyune told Parliament that he has alerted the president on the matter and will respond soon.

He also allayed the fears of the legislators, saying all is moving on well in the central Bank. Kasolo also said there is no worry since some people are helping out of the role of the Deputy Governor.

His response didn’t go down well with the Kasilo County MP, Elijah Okupa, who said there is a looming at the bank. Okupa explained in the absence of the Governor, Emmanuel Tumusiime Mutebile no one will remain in charge of the central bank.

In her ruling, the Speaker, Rebecca Kadaga, said BoU is a public institution and it’s important for the vacant positions to be filled.

About Kasekende

61-year-old Kasekende first served as the Deputy BoU Governor between 1999 and 2002.

He had earlier on served as director of Research Department and Executive director responsible for research and policy in the Central bank. He worked as the chief economist of the African Development bank from 2006 to 2009.

He is widely seen as a possible replacement for Governor Emmanuel Mutebile, whose contract is due to expire in 2021.

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