It is the New Year and Bank of Uganda is set to get a new Deputy Governor as current Deputy Governor Dr Louis Kasekende’s contract is expiring this Friday on January 10, 2019.
Sources tell us that Kasekende has used several bigwigs in government like Secretary to the Treasury Keith Muhakanizi and Finance Minister Matia Kasaija, former Finance Minister Gerald Ssendawula and several clerics to persuade President Museveni to have his contract extended at the Central Bank but all pleas seem to have fallen on deaf ears, and by the look of things, he has accepted.
Word is that he has even already cleared his office at the Bank of all his personal belongings to pave way for the incoming Deputy Governor.
The incoming Deputy Governor in waiting is Makerere University Business School (MUBS) Principal Prof Wasswa Balunywa as he has maintained a good relationship with President Museveni over the years, getting praises from him on several occasions.
During Kasekende’s time in office, Bank of Uganda has been embroiled in several scandals most notably the highly contested takeover of Crane Bank Limited and the recent Shs90 billion Saga.
Prof Balunywa’s appointment is seen as a way of cleaning up the image of the bank as he has excelled in different positions he has held in the past like Board Chairman of Uganda Airlines until 2021, and he is no stranger to Bank of Uganda as he was once a member of the Board of Directors.