Bank of Uganda governor Tumusiime-Mutebile is dead

The Governor of the Bank of Uganda Dr Emmanuel Tumusiime-Mutebile has passed away at the age of 72.

The late Governor of the Bank of Uganda Dr Emmanuel Tumusiime-Mutebile

According to our sources, the governor passed away at 5:30am this morning at Nairobi Hospital in Nairobi, Kenya.

According to family members, he had been receiving medical attention there after being rushed to Nairobi from Nakasero Hospital, Kampala, in critical condition.

The Minister of Works General Katumba Wamala is among many who have sent condolence messages to the deceased’s family as well as staff and workers of Bank of Uganda.

Minister of Trade, Industry and Cooperatives, David Bahati said, “Sad news: our elder brother and great economist Prof Emmanuel Mutebile has rested. His contribution to maintaining macro-economic stability of our economy will forever be remembered. His generous heart touched many lives.”

Muteblie had been ill for quite some time, appearing in parliament in March 2021 the Governor looked extremely weak. He was supported by aides on both ends as he made his way to appear before a parliamentary Appointments Committee in order to be vetted for another term in office following 20 years at the helm of the Central Bank.

At the time, Luttamaguzi Ssemakula, the MP for Nakaseke South commented, “The governor was physically weak but mentally very strong”.

I tried to inquire why the president could not appoint someone new for that position given the status he is in, my colleagues told me as long as someone can serve, there is no way you can fight him,” he added.

The governor of the Bank of Uganda was thereupon reappointed for a fifth term, extending his time in office for an additional five years.

Tumusiime-Mutebile's biography obtained from Wikipedia reveals he attended Kigezi College Butobere for his O-Level studies and then proceeded to Makerere College School in Kampala for his A-Level studies.

The biography further reads, "In 1970, he attended Makerere University, where he was elected guild president.

"He was forced to flee Uganda in 1972 after he gave a speech publicly criticizing the expulsion of Asians from the country by Idi Amin.

"Travelling to England through Tanzania, he completed his studies at Durham University, graduating with an upper-second in Economics and Politics.

"In October 1974, he began his post-graduate studies at Balliol College, Oxford. After completing that course, he enrolled at the University of Dar es Salaam to lecture and conduct research while pursuing his doctorate in economics.

"In 2009, Nkumba University, a Ugandan university based in Entebbe, awarded him an honorary Doctor of Philosophy degree in recognition of his "great contribution towards the development of Uganda's financial sector".

"Between the years 1979 and 1984, Tumusiime-Mutebile was appointed to several government positions in Uganda ranging from deputy principal secretary to the president at State House in 1979, to undersecretary in the ministry of planning in 1981 where he rose to senior economist and then chief economist in 1984.

"In 1992, he was appointed permanent secretary to the newly combined ministry of finance planning & economic development, a merger that he had advocated while working under Minister of Finance Gerald Ssendaula.

He is the longest serving chief executive in the Bank of Uganda's history. He is credited with many of the sound economic policies adopted by the Uganda government at the urging of the central bank during the 1990s and the first decade of the 2000s."

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