Bank of Uganda’s board of directors has appointed Dr. Adam Mugume as the acting Deputy Governor of the Central Bank.
Mugume replaces Dr. Louis Kasekende who unceremoniously bowed out of BoU after his contract expired early this year and was not renewed by President Yoweri Museveni the appointing authority.
“Dr Mugume will perform the executive functions of the office of Deputy Governor until a substantive Deputy Governor is appointed,” the board’s president Chairman James Kahoza said.
BoU Governor Tumusiime Mutebile is reportedly on sick leave and there was a power vacuum at the bank.
Mugume has been serving as BoU’s Executive Director, Research.
Mugume holds a Bachelor of Science -Economics degree from Makerere University, a Masters in Economics from the University of Botswana and a PHD in economics from the Oxford University in the UK.
He served as a lecturer at Makerere University for several years, and was head of Department of Economic Theory and Analysis as his highest posting at the same university.