Finance & Banking

“We have terribly missed him” BoU boss wails in tribute to Late Prof. Tumusiime-Mutebile

KAMPALA-Staff at the Bank of Uganda [BoU] still miss former governor, the Late Prof. Emmanuel Tumusiime-Mutebile who died on January 23, 2022, according to the institution’s deputy governor Michael Ating-Ego.

Atingi who was yesterday paying tribute to Tumussime-Mutebile in a church service held in Kampala in memory of his former boss said: “It is precisely one year since we lost Prof. Tumusiime-Mutebile, and we have missed him terribly since 23 January 2022. And, with God’s gracious blessing of fortitude and the gifts of the late governor’s legacy, we have soldiered on bravely as Prof. Tumusiime-Mutebile would have wanted us to do.”

“All of us are called to transcend the pain of his loss and propagate his legacy, confident in the knowledge that Prof. Tumusiime-Mutebile lives on with our Father in heaven because he accepted… Jesus Christ as his Lord and Saviour. It is a great personal honour for me to pay tribute to the memory and legacy of Prof. Mutebile on behalf of the Bank of Uganda,” Ating-Ego said.

Atingi said Tumusiime-Mutebile served BoU for over 20 years with superior professional competence, utter commitment, and a profound sense of humanity. “The fruits of his professional and personal life are evident to all. I dare say that Uganda’s sustained sound macroeconomic policy formulation and management framework is part of the legacy of Prof. Tumusiime-Mutebile.”

He said sustained sound macroeconomic policy formulation and management framework is part of the legacy of Prof. Tumusiime-Mutebile. “Abstracting from the details, I am proud to say that he stood for sound fiscal discipline, and this was maintained after his service as the Permanent Secretary and Secretary to the Treasury at the Ministry of Finance, Planning and Economic Development.”

Ating-Ego said Tumusiim-Mutebile stood for central bank independence in pursuing effective and progressive monetary policy, financial sector soundness, and payment systems development, adding that BoU has continued to execute its mandate unrestrained and to the best of its ability, as evident in the prevailing monetary and financial stability coupled with the advancement of the payment system.

He added: “He [Tumusiime-Mutebile] exemplified the spirit of ubuntu – the universal bond of sharing that connects all humanity, that profound African sense that we are all human only through the humanity of other human beings, the very recognition that we are only people because of other people.”

He said Tumusiime-Mutebile is also immortalised through the lasting impact of his contribution to the Rotary movement as well as the continued corporate social responsibility via BoU’s outreach programme.

Meanwhile, a memorial lecture in honour of Tumusiime-Mutebile will be held in Kampala on January 27, 2023 under the theme, “The Legacy of Prof. Emmanuel Tumusiime-Mutebile and its mplications for the current economic challenges facing Uganda and Sub-Saharan Africa”.

The CentralBank of Kenya Governor Dr. Patrick Njeroge , Abebe Aemro Selassie, the Director African Department International Monetary Fund, and Dr. Donald.P Kaberuka, former President of the African Development Bank and Chairman of the Global Fund are some of the guests who will speak during the event.

President Museveni is expected to be the Chief Guest.

In another development, BoU and Makerere University have agreed to continue funding the Emmanuel Tumusiime-Mutebile Foundation which was created in memory of the former BoU governor, according to the board chairperson Matthew Rukikaire.

The foundation aims to promote industrial growth and private sector development in Uganda and Sub-Saharan Africa.

President Museveni is yet to appoint a substantive BoU governor since Tumusiime-Mutebile passed on at the age of 72.

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