BoU: Kasekende's contract as deputy governor expires in 13 days

The contract of the deputy governor Bank of Uganda, Dr Louis Kasekende has 13 days to expire.

Kasekende's contract is scheduled to expire on January 13, 2020 while that of his immediate boss, Emmanuel Mutebile expires in 2021.

The minister of Finance, Matia Kasaija told The New Vision recently that "he could do nothing about Kasekende's contract" as the matter is before Museveni.

"I cannot act either way without the president giving me a blessing. Ideally the president is the minister of Finance," Kasaija said according to The New Vision.

We have been told that over the last couple of weeks Kasekende has made frantic efforts to meet Museveni but to no avail.

It has been widely anticipated that Kasekende would replace governor Emmanuel Tumusiime Mutebile but in the wake of the recent scandals at the central bank, his name has been soiled in the mud.

In June, the MP for Bugweri County Abdu Katuntu who spearheaded the investigations into the closure of the defunct seven commercial banks disclosed to parliament that the statement at Bank of Uganda is as a result of a succession battle for the top position.

Katuntu told legislators in a parliamentary sitting chaired by Speaker Rebecca Kadaga that currently there are two factions at the central bank one led by the governor Emmanuel Mutebile and another by his deputy Dr Louis Kasekende.

Katuntu warned of the repercussions if this fight amongst the factions is not stopped.

“It may lead to the collapse of the central bank if issues of governance are not hurriedly handled,” he said.

Kasekende has worked in Bank of Uganda for the last 33 years having joined in 1986.

He served in different capacities before rising to the position of deputy governor in 1999.

In 2002, he left the central bank to serve at the World Bank before returning to occupy the same position.