David Kalyango, formerly the Executive Director of Finance, is now the head of bank supervision, succeeding Twinemanzi Tumubwine. Tumubwine, who took over from Justine Bagyenda in 2018, has been reassigned as the Executive Director of National Payment Systems.
The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, has reorganised the top leadership of the central bank.
The Deputy Governor of the Bank of Uganda Dr. Michael Atingi-Ego
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In a staff memo dated Monday, August 5, 2024, Atingi-Ego announced, “Following the Board's approval of the new organisational structure on 07 May 2024, and considering the skills, qualifications, competencies, and experience, we inform you that effective 06 August 2024, Heads of Directorate and Department at the rank of Executive Director and Director respectively have been deployed.”
Mackay Aomu, previously the Director in charge of National Payment Systems, has been appointed to oversee the supervision of non-bank financial institutions.
Dr. Jacob Opolot, who has served as Executive Director and Economic Advisor to the Governor, has been appointed as the head of operations, responsible for the currency docket, a position that had been vacant.
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Restructuring at BoU
Pulse Live Uganda
Restructuring at BoU
Pulse Live Uganda
Restructuring at BoU
Pulse Live Uganda
Restructuring at BoU
Pulse Live Uganda
The Deputy Governor stated that “the vacant positions will be filled competitively at an appropriate time.”
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He added, “According to the Bank's policy on handing over, Section 6.17 of the Administration Manual, the actual movements to the new duty stations will be handled administratively.”
Phillip Wabulya, previously the Executive Director of the Petroleum Investment Fund and Chairman of the contracts committee, will now lead Risk and Strategy at the central bank.
It is worth noting that in 2023, Bank of Uganda staff resisted plans to restructure the bank, arguing that the changes targeted officials loyal to the late Governor Emmanuel-Tumusiime Mutebile and aimed to reward those loyal to the current Deputy Governor, Dr. Michael Atingi-Ego.
The central bank delayed implementing the new structure, initially planned for August 1, 2023, to allow the Board of Directors to review and address key concerns raised by staff.
However, the bank defended the new structure, stating that it was based on a review conducted by the consulting firm KPMG and had even been suggested by the late governor.
