PROFILE: Who is Prof. Emmanuel Tumusiime-Mutebile, the architect of Uganda’s economic recovery and longest-serving BOU Governor

Central Bank Governor Emmanuel Tumusiime-Mutebile is has passed on (PHOTO /File)

KAMPALA –The Governor of Bank of Uganda, Emmanuel Tumusiime-Mutebile, has passed on.

On Sunday BOU in a statement said: “It is with profound sadness that BoU announces the death of its gallant Governor Prof. Mutebile. Prof. Mutebile passed away at Nairobi Hospital on Sunday, January 23, 2022, at around 5:00am.”

The bank noted that further announcements would be made in due course.

“The BOU family, together with his natural family and friends joins the nation in mourning his loss.”

Although the bank did not disclose what killed the 72-year-old, sources said he had been admitted last month over kidney-related complications and diabetes.

Bank of Uganda Director in charge of Communications Charity Mugumya said they would issue a statement later on in the day.

Mutebile was rushed to hospital after he collapsed on the eve of the New Year. He was flown to Nairobi for further management, and had been in hospital for close to a month.

The Governor had been in and out of office due to complications related to diabetes, which was being managed at Nakasero Hospital and his Kololo home.

The issue of the Governor’s worrying health had been in public domain with reports that BOU had bought him his own dialysis machine.

In 2020, the bank admitted that the Governor was not well. In a statement posted on the Bank of Uganda’s Twitter handle at the time, Mugumya, said: “Governor was unwell. His doctors attended to him and he is currently recovering very well.”

The rumour of his health were further exacerbated when the BOU Board appointed Dr Adam Mugume to perform executive functions of Deputy Governor, following the departure of Dr Louis Kasekende, whose contract had elapsed and was not renewed.

Mutebile, 72, has been central in crafting and implementing Uganda’s economic policies for decades.

He served as secretary to the treasury from 1992 to 2001 when he was appointed governor.

He has been in charge of the central bank for over 20 years. His contract was renewed by President Yoweri Museveni for another five-year term in March last year.

He is credited for many of the policies that were adopted by the government during the 1990s and the early 2000s, as Uganda’s then-ailing economy sought recovery and stability.

Who was Mutebile?

Mutebile served as Governor and Chairman of the Board of Directors of the Bank of Uganda since 2001 to date.

A seasoned professional economist and reformer, he spearheaded the design and implementation of the Economic Reform Program that restored Uganda from the economic crises of the 1970s and 1980s to sound economic performance during his service as the Permanent Secretary/Secretary to the Treasury in the ministry responsible for finance, planning, and economic development.

He worked as a consultant for multilateral and regional organizations, including the World Bank, International Monetary Fund, Organization for Economic Cooperation and Development, Macroeconomic and Financial Management Institute of East and Central Africa, UK Department for International Development, the North South Institute in Canada, and for the governments of Rwanda, Kenya, Tanzania, Eritrea, and Nepal.

He was a member of the High Level Panel of the United Nations development Programme (UNDP) for the production of the Human Development Report of the UNDP; the Management Group for overseeing the evaluation of the implementation of the Comprehensive Development Framework of the World Bank in 2001; and the High Level Panel of Eminent Persons to advise the President of the African Development Bank on the strategic future of the African Development Bank in 2006.

The late holds Fellowships of the World Bank Institute, and Rotary Foundation of Rotary International.

He was educated at Makerere University, Durham University, and Oxford University.

He is an Honorary Professor of Makerere University, an Honorary Doctor of Philosophy of Nkumba University, a Companion of the Commonwealth Partnership for Technology Management (CPTM), and a Doctor of Laws (Honoris Causa) of Bishop Stuart University.

Makerere University honoured him with the establishment of the Prof. Emmanuel Tumusiime-Mutebile Chair of Monetary Policy, Banking and Finance; and the Tumusiime-Mutebile.

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