Prime Minister Robinah Nabbanja has hailed the late Governor of Bank of Uganda , Emmanuel Tumusiime-Mutebile for his immense contribution in stabilizing Uganda’s economy.
Mutebile, 72 died on Sunday morning after being admitted to Nairobi Hospital on December, 31, 2021 having collapsed due to complications related to diabetes.
In her eulogy, Nabbanja said the deceased will always be missed but his great works will always stand tall.
“Prof. Mutebile was a great economist, true nationalist and patriotic Ugandan who dedicated many years of his life to serving the country,”Nabbanja said.
“As Governor of Bank of Uganda and Secretary to the Treasury, he played a significant role in stabilising the economy. His advice was always sound, well informed and constructive.”
The Prime Minister explained that the reforms that Mutebile championed when he served in the Ministry of Finance led to sustained growth of the economy beginning in the early 1990s up to the time of his passing on.
“These were key factors in building confidence in the country, attracting investment that ultimately create jobs and improve household incomes,” she said.
Born January 27, 1949 in Kabale, Emmanuel Tumusiime Mutebile attended Kigezi College Butobere for his O-level before joining Makerere College School for his A-level and in 1970 he joined Makerere University and was later elected guild president
However, in 1972, he fled the country after giving a speech that publicly criticized the expulsion of Asians from Uganda by President Idi Amin .
He consequently fled to England via Tanzania from where he was able to complete his studies at Durham University graduating with an upper second in Economic and Politics,
In 1974,he began his post-graduate studies at Balliol College, Oxford but later returned to East Africa and joined Dar es Salaam University to lecture and do research while pursuing his doctorate in economics.
Between 1979 and 1984, Tumusiime-Mutebile was appointed to several government positions including deputy principal secretary to the president at State House in 1979, to undersecretary in the ministry of planning in 1981 where he rose to senior economist and then chief economist in 1984.
In 1992, he was appointed Permanent Secretary to the newly combined Ministry of Finance Planning and Economic Development, a merger that he had advocated while working under the Minister of Finance.
The seasoned professional economist and reformer was in 2001 appointed the Bank of Uganda Governor, a position he served in until his death and has been the longest serving chief executive in the history of Uganda’s Central Bank.
He also worked as a consultant for several multilateral and regional organizations including the World Bank, International Monetary Fund, Organization for Economic Cooperation and Development, Macroeconomic and Financial Management Institute of East and Central Africa, UK Department for International Development and the North South Institute in Canada among others.