KIU News

  • Home /
  • KIU News /
  • MPs Mourn Deceased Bank of Uganda Governor Prof. Emmanuel Mutebile

MPs Mourn Deceased Bank of Uganda Governor Prof. Emmanuel Mutebile

KIU, Main Campus - The Prime Minister, Rt. Hon. Robinah Nabbanja presented to Parliament a Motion to eulogize Mutebile, who served as the Governor Bank of Uganda (BOU) before his death. Parliament held a special sitting in his honor on Thursday, January 27, 2022.

Nabbanja said Mutebile was a diligent leader who served Uganda with dedication and patriotism and participated in shaping the destiny of Uganda.

“Mutebile helped modernize Uganda’s financial sector and designing and implementing economic and fiscal reform programs that have restored Uganda’s economy,” she added.

The Leader of the Opposition, Hon. Mathias Mpuuga said that Prof. Mutebile was the person with the right credentials to hold the various key positions on account of his competence that helped cushion the economy from a state of near-collapse in the early 1990s.

“He was one of a kind; a straightforward man from Kabale district, who went on to make history as the founding father of neoliberal economic practices in Uganda’s contemporary history,” Mpuuga added.

Mpuuga said Mutebile was not afraid to talk straight while standing his ground even when it made the higher powers uncomfortable.

He cited an example in 2011 when the Governor BOU disagreed with President Museveni over the decision to spend US$740 million on six fighter jets and in the same year, Mutebile attributed the inflation and exchange rate depreciation in the country to the NRM party using money from the Central Bank to fund its elections.

Ndorwa East MP, Wilfred Niwagaba said that Mutebile was instrumental in interceding and reconciling warring political factions in the Kigezi sub-region and he has left a vacuum in that respect.

Niwagaba said that Mutebile made a major contribution to education, especially in Kigezi through supporting the inception and establishment of the non-profit Kabale University.

“He used his position as the Governor, through the corporate social responsibility function of BOU, to support the University until the government took over,” he added.

Additionally, Hon Solomon Silwany (NRM, Bukooli County Central) moved an amendment to the motion requesting that the government or Bank of Uganda provides a suitable residence for the family as a token of appreciation of his service to the country.

Hon. Barnabas Tinkasiimire (NRM, Buyaga West County) supported the amendment to the motion saying that such a distinguished servant should have his dependents supported by the state.

Parliament adopted the motion with the amendment urging the government to provide for the welfare of the late Mutebile’s family and report back within the coming weeks on its position.

Mutebile passed on aged 73 on Sunday, January 23, 2022, after suffering from diabetes and related complications while undergoing treatment in Nairobi, Kenya.

Before holding the portfolio of Governor, Bank of Uganda, Mutebile held various high-level positions in the government including; Permanent Secretary in charge of Economic Affairs, Office of the Prime Minister, from September 1985 to May 1986; Permanent Secretary, Ministry of Planning & Economic Development from May 1986 to 1992 and; Permanent Secretary/Secretary to the Treasury, Ministry of Finance and Economic Planning, April 1992 to May 1998.