By Our Reporter
Prof. Waswa Balunywa, the Principal of Makerere University Business School (MUBS), is one of the candidates eying Bank of Uganda Deputy Governor Dr Louis Kasekende’s job, whose contract expires mid January.
Kasekende is currently having sleepless nights, uncertain of whether President Yoweri Museveni will extend his contract or end it. He is said to be lobbying powerful figures close to the presidency so that they second him as the best man for to the number two position at BoU.
It should be noted that the MUBS Principal is a man of vast experience in economics and has served on the board of directors of Bank of Uganda for years.
But above all, it is his result-oriented economic policies that turned MUBS from Uganda College of Commerce (UCC) Nakawa to leading business school in the country.
Although cabinet granted MUBS a university status as Kampala Metropolitan University, the MUBS council feel it is better to retain the current status given that it is the only leading business constituent college of Makerere University, majoring in business studies.
We have since learnt that Prof. Balunywa was over the weekend at Rwakitura, at President Yoweri Museveni’s country home, where he led a delegation of MUBS staff and council members to meet the President and First Lady, also Minister of Education and Sports. Among the matters discussed during the meeting was the long standing salary increment in public universities.
According to reliable source at BoU, Dr. Kasekende is supposed to leave the number two slot at the central bank mid-January 2020. However, it is understood that given that the board hasn’t renewed or given him an extension of the contract, this has promoted Kasekende to lobby power brokers within government to help him retain the job, although only time will tell whether he will succeed or not.
It is said that Kasekende over the weekend sent emissaries led by former Minister of Finance, Planning and Economic Monitoring, Gerald Ssendawula and Catholic clerics to the President to lobby on his behalf but the President is yet to pronounce himself on the matter.
The delegation which is reported to have been dominated by male clerics argued that it is true BoU needs urgent changes but the changes must be uniform and implemented at a given time without necessarily targeting some individuals.
Earlier on, reports emerged that Kasekende had unsuccessfully tried to meet President Museveni in an effort to try and explain himself before the appointment authority.
So after failing to seek audience with the President Kasekende could have resorted to lobbying through religious leaders and power brokers after his key contacts in State House were reshuffled, which complicated matters for him.
Spy Uganda reported early this week that Kasekende over the weekend was in Kabale meeting the Permanent Secretary Ministry of Finance and Secretary to the Treasury Keith Muhakanizi, another Power Broker, over the same matter.
It should be noted that Parliament recommended changes at BoU after the Commissions, State Authorities and State Enterprises (COSASE) investigations discovered that there is leadership deficit at BoU, although several economists argued that it would be disastrous to change the Governor and his Deputy at the moment, when Uganda’s economy is struggling to recover from high inflation.
However, a section of those opposed to Kasekende’s stay at BoU argue retaining/extending his contract will be undermining the resolution of parliament, which recommended that there is need to restructure BoU staff, most especially starting with top management.
