By Andrew Irumba
Dr. Louis Kasekende’s hopes to have his contract renewed as Bank of Uganda have finally been dust binned after Dr.Adam Mugume, one of Ugandan’s finest economists was appointed acting Deputy Governor BoU this afternoon. Mugume now officially replaces troubled Kasekende whose contract expired earlier this year and the appointing authority looked reluctant in renewing the same even when several attempts were made to lobby for the lucrative, juicy slot.
TheSpy Uganda has reliably learnt that the decision to appoint Dr.Mugume was taken by the Board of Directors which sat in Kampala today (Friday), a source privy to the information with in the Bank told this reporter.
According to Board’s presiding Chairman, James Kahoza, Dr.Mugume will perform the executive functions of the office of Deputy Governor until a substantive Deputy Governor is appointed by the appointing authority.
Meanwhile, TheSpy Uganda has separately learnt that the ailing economist giant, Prof. Mutebile was on Thursday rushed to Nakasero Hospital Kampala in critical condition. “Yes, yesterday he was badly off and we rushed him to Hospital but he has since responded very positively. His condition is longer threatening,” a source told this reporter on phone this afternoon.
Who Is Dr.Mugume?
Dr. Adam Mugume taught econometrics for a couple of years at Makerere University and has been serving as Central Bank’s Executive Director Research and Policy Directorate at BoU.
An amiable officer, Mugume graduated with Bachelor’s of Science Degree-Economics at MAK before completing his Master’s in economics from the University of Botswana.
He holds a PhD in economics at Oxford University.
His current designation now puts him closer to scooping the top position at the Central Bank as Governor, considering the fact that Governor Prof.Mutebile’s contract expires just next year, 2021 and is most likely not expected to be renewed given his health status and the long period he has been in that slot,plus the storms he has suffered while at the steering of the national reservoirs.
Mugume headed the modeling division at Bank of Uganda between 2007 and 2010.
For his PhD. Mugume researched on applied econometrics and macroeconomics.
He also headed department of economic theory and analysis at MAK. He also consulted for the World Bank and African economic research consortium between 2004 and 2007.
His experience lies in economic forecasting and policy analysis, macroeconomics applied economics and fiscal and monetary policies.
Here at the Spy Uganda, we only wish the Doctor a good stay.