Bank of Uganda has announced several appointments to its top management team and transfers, including a new executive director of supervision.
A memorandum signed by Emmanuel Tumusiime-Mutebile, the Bank’s governor, said Dr Tumubweinee Twinemanzi is replacing Mrs Justine Bagyenda as the executive director of supervision. The appointment, like all the others, takes effect immediately.
The executive director of supervision oversees the supervision and regulation of the financial sector. Mrs Bagyenda was appointed to the role in 2005. Her pending retirement this year was a known fact inside the Central Bank.
Mrs Bagyenda has overseen the takeover of four significantly undercapitalised banks, whose assets were then sold to other banks. The biggest casualty was Crane Bank which was placed under statutory management in 2016 because it posed a “systemic risk to the stability of the financial system.”
Dr Tumubweinee Twinemanzi, the new executive director of supervision, was working at the Uganda Communications Commission as director of industry affairs and content prior to the appointment. He has an Msc and PhD in Economics – awarded in 2009 – from the University of Texas at Dallas. Mr Tumubweinee’s doctoral dissertation was titled ‘Interest Spreads and the Margin Setting Behavior of Commercial Banks: Evidence from Uganda’.
Other appointments include Mary Katarikawe who is the new executive director of operations, Joyce Okello as executive director and personal assistant to the governor, Richard Mayebo as the executive director risk and strategic management, Elliot Mwebya as executive director information technology, Phillip Wabulya as executive director petroleum investment fund, and Deborah Kabahweza as executive director of finance. Mr David Kalyango has also been appointed as the chief internal auditor.
“The changes will enable the Bank fill existing internal vacancies and manage transitions arising from pending retirements,” Christine Alupo, the outgoing director of communications, said in an emailed statement. “This is in line with normal staff deployment procedures at the Bank of Uganda.”
Others moved in the shuffle include Ben Sekabira who was previously the director of commercial banking and is now director of financial markets development coordination. He was replaced by Hannington Waswa. Charles Abuka, formerly the director of the financial stability department is now the director of the statistics department and has been replaced by Dr Kenneth Egesa. Mr Valentine Ojangole is the new director of the banking department.
Ms Christine Alupo has been appointed director of board affairs and replaced by Charity Mugumya as the director of the communications department.
The moves have affected 46 people across the Bank. Four staff members were also confirmed to positions they were appointed to earlier.