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Dr Michael Atingi-Ego has been named the new Governor of the Bank of Uganda, succeeding the late Emmanuel Tumusiime-Mutebile, who passed away in January 2022. Atingi-Ego, who has served as Deputy Governor since March 2020, has been acting as Governor since Mutebile’s demise.
Alongside his appointment, Professor Augustus Nuwagaba has been named Deputy Governor. A distinguished economist and consultant on economic transformation, Nuwagaba brings a wealth of expertise to the central bank’s leadership.
Atingi-Ego was appointed Deputy Governor on March 29, 2020, leaving his role as executive director of the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI) in Harare, Zimbabwe.
He holds a Bachelor’s degree in Economics from Makerere University, a Master of Arts in Economics from Cardiff Business School, UK, and a Doctor of Philosophy in Economics from the University of Liverpool, UK.
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Atingi-Ego began his career at the Bank of Uganda, rising through the ranks to become Executive Director of Research. In 2008, he joined the International Monetary Fund (IMF) as Deputy Director of the African Department in Washington, DC. By September 2018, he had assumed the role of executive director at MEFMI.
Following parliamentary vetting, he replaced Louis Kasekende, whose 10-year tenure at the central bank ended in January 2020.
Atingi-Ego brings extensive regional and international experience to his new office. While at the IMF, he played a crucial role in enhancing the effectiveness of capacity development and modernising monetary policy frameworks in developing countries.
In May 2022, African Banker Magazine recognised Atingi-Ego as the "Central Bank Governor of the Year" for his efforts in controlling inflation and maintaining foreign exchange stability in Uganda.