Governor of Bank of Uganda Mutebile dies. News coming in indicates that the Bank of Uganda governor Emmanuel Tumusiime Mutebile is dead.
Our sources confirmed that Mutebile passed on this morning at Nairobi Hospital where he has battled illness for a long time.
Emmanuel Tumusiime-Mutebile was until his death a Ugandan economist and banker. He has been the governor of the Bank of Uganda, the central bank of Uganda.
He was first appointed to that position on 1 January 2001 and was re-appointed for a second five-year term on 1 January 2006.
Senior journalist Andrew Mwenda posted “Emmanuel Tumusiime Mutebile, this great architect of Uganda’s economic recovery, this titan of our banking industry, this intelligent, magnanimous and generous soul, this friend of all and enemy of no one, rested this morning at 5.30 am. RIP my friend! You have been a true giant!
Mutebile 72, was earlier this month rushed to Nairobi after his situation worsened. A source close to the governor told us that he was admitted on what doctors called diabetes-related complications after he collapsed on the eve of the New Year.
They said the governor, together with his personal doctor, was flown to Nairobi for further management.
“He is old, and at that age, such complications are expected for everybody. We only pray that he makes it back healthy and strong because the nation needs him,” he said.
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News of the ailing governor has in the past few years become frequent in the media.
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 rumors 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.
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