Bank of Uganda Gets New Leadership Amid Economic Challenges

Kampala, Uganda – President Yoweri Museveni has appointed Michael Atingi-Ego as the new Governor of the Bank of Uganda (BOU), with Professor Augustus Nuwagaba stepping in as the Deputy Governor.

Atingi-Ego, who has been serving as the Deputy Governor since 2020, takes over from the late Emmanuel Tumusiime-Mutebile, who passed away in January 2022.

Atingi-Ego brings a wealth of experience to the role, having worked at the International Monetary Fund (IMF) as Deputy Director of the African Department and serving as Executive Director of the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI) in Harare, Zimbabwe.

Professor Nuwagaba, the new Deputy Governor, is an expert in economic transformation, with a strong background in fiscal policy, financial management, and economic development.

He has advised African governments and worked with international organizations, including the African Peer Review Mechanism under NEPAD and the World Bank.

The appointments come at a critical time for Uganda’s economy, which is navigating post-pandemic recovery, a volatile exchange rate, and global financial challenges.

The duo’s expertise is expected to bring stability and growth to the country’s financial sector.Their names and curriculum vitae have been forwarded to Parliament for approval, according to President Museveni’s office.