SV: {UAH} Pojim/WBK: Who will be Bank of Uganda boss?

UAH folks,

I think it would be Mr.  Keith Muhakanizi

Ocaya pOcure

Den lördag, 11 juli 2015 19:23 skrev john kwitonda <kwitonda4@gmail.com>:

i dont think the dicator can renew mutebiles contract. he is a close friend of AMAMA , SO NO WAY HE CAN REWARD HIM.He has been seen on all most functions of amama

On Sat, Jul 11, 2015 at 8:16 PM, <ocennekyon@gmail.com> wrote:

http://www.observer.ug/news-headlines/38674-who-will-be-bank-of-uganda-boss

Who will be Bank of Uganda boss?

Written by Alon Mwesigwa

Last Updated: 10 July 2015

Bank of Uganda governor Tumusiime-Mutebile

With about six months left to the end of the current Bank of Uganda governor's contract, the search for his replacement has started, The Observer can reveal.

There are four names for President Museveni to choose from, our sources indicate. These are Dr Louis Kasekende, Dr Waswa Balunywa, Keith Muhakanizi, and Dr Adam Mugume.

A State House source said it was unlikely that governor Emmanuel Tumusiime-Mutebile would get his contract renewed.

"A new person is likely to come in," the source said. "The president will [make up] his mind by October," the source added.

According to this source, long-serving and reliable Mutebile's health may not allow him to stay on. A Bank of Uganda official described the search as "interesting indeed" but said the prospect of a new governor had not been talked about in the bank's circles.

The 66-year-old's contract will expire on January 12, 2016, ending his third term as the head of the central bank, making him the longest-serving BOU governor. He was first appointed in 2001. Mutebile is credited for standing up against different pressures and not being afraid to tell donors that some of their policies were "stupid."

The blunt-talking economist once told traders to "look for cheaper banks" when they pressured him about soaring interest rates. However, his reputation as a fiercely-independent governor suffered a dent in 2011 when he admitted in an interview with the UK's Financial Times that BoU had released $720m to finance the purchase of fighter jets.

"He [Museveni] gave me some promises which he has not kept – like a way to redress the reserves. I'm still fighting with him," Mutebile told the Financial Times in June 2011.

This was not the Mutebile Ugandans knew. Meanwhile, our source said Kasekende is the leading candidate, having been an insider for quite long, including serving twice as deputy governor.

On the other hand, the president could opt for a perceived politically-safe pair of hands in Balunywa. Balunywa, who was first appointed Makerere University Business School principal in 1997, told a newspaper in 2012:

"At some point I had an opportunity to go and work as a deputy governor of Bank of Uganda but this institution (Mubs) pulled me back. I don't think I want to be in leadership positions now. I want to build my legacy in research and be authoritative in economics".

Dr Adam Mugume, the amiable, down-to-earth BOU executive director for research, is also an option, given his solid CV and experience.

Another front-runner is Keith Muhakanizi, the secretary to the Treasury.Mutebile first served as a secretary to the Treasury before he was appointed as governor.
Financial industry watchers hope to get a governor with the spine to maintain monetary discipline.

"Whoever replaces Mutebile must be as firm as he has been, especially on policy consistency," said Stephen Kaboyo, the director for Alpha Capital Partners. 
"[He] must emphasize central bank independence, and not shy away from dealing head-on with inherent conflicts with the other arms of government."
PROFILES

Dr Louis Kasekende

He joined BoU in 1986. Currently deputy governor, a position he assumed on January 18, 2010, Kasekende is billed as the favourite to head BoU. The 56-year-old first served as deputy governor in 1999 before he was appointed executive director of the World Bank from 2002 to 2004, representing 22 African countries, Uganda inclusive, on the bank's executive board.

From the World Bank, Kasekende served at the Africa Development Bank (AfDB) as its chief economist from 2006 to 2009. A year later, he returned to Uganda and was reappointed deputy governor.

Kasekende, who holds a first-class degree in economics from Makerere University, as well as a master's degree in economics and a doctorate in econometrics from the University of Manchester, UK, is believed to have extensive knowledge in central banking, international finance, and macro-economic management.

As he took office in 2010, his boss Mutebile said: "Kasekende's vast knowledge and international exposure certainly bring additional intellectual and professional strength to the capacity of Bank of Uganda". 
Dr Waswa Balunywa

He has been principal of Makerere University Business School (Mubs) for more than 15 years. There is scanty information about his policy positions. He holds a PhD from the University of Sterling, Germany, which he acquired in 2009.

He has an MBA from the University of Delhi (1981) and a bachelor's degree in commerce from the University of Delhi, which he acquired in 1979.

Balunywa's PhD thesis examined whether there is any relationship between entrepreneurship and economic growth. He has served on several boards, including Bank of Uganda and Kakira Sugar Works. 
Dr Adam Mugume

Currently the BOU executive director for research, Mugume headed the modeling division between 2007 and 2010. He holds a PhD from Oxford University, UK, and a master's degree in economics from the University of Botswana.

For his PhD, he researched on applied econometrics and macroeconomics. He previously headed the department of Economic Theory and Analysis at Makerere University.

He also consulted for the World Bank and African Economic Research Consortium between 2004 and 2007. His experience lies in economic forecasting and policy analysis; macroeconomics, applied econometrics, and fiscal and monetary policies. His students at Makerere know him for teaching the hardest course unit – econometrics. 
Keith Muhakanizi

Currently permanent secretary and secretary to the treasury, a position he assumed in 2013, he previously served as director of economic affairs planning and economic development.

Muhakanizi has served as board chairman of National Housing and Construction Company. He is also a member of various boards, including Rural Electrification Agency and Uganda Revenue Authority.
amwesigwa@observer.ug

Who will be Bank of Uganda boss?

http://www.observer.ug/news-headlines/38674-who-will-be-bank-of-uganda-boss

Sent from my BlackBerry 10 smartphone.

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Disclaimer:Everyone posting to this Forum bears the sole responsibility for any legal consequences of his or her postings, and hence statements and facts must be presented responsibly. Your continued membership signifies that you agree to this disclaimer and pledge to abide by our Rules and Guidelines.To unsubscribe from this group, send email to: ugandans-at-heart+unsubscribe@googlegroups.com or Abbey Semuwemba at: abbeysemuwemba@gmail.com.