Clock ticks for BoU's Kasekende to bid farewell

Uncertainty still surrounds the future of Dr Louis Kasekende, the deputy governor of Bank of Uganda.

So far, there has been no word on whether it will be renewed or whether he will leave the institution when his contract officially expires on Monday, January 13, 2020.

Yet the clock is ticking fast.

Last week, Matia Kasaija the minister of Finance said Kasekende's future at the central bank was in the the hands of President Museveni.

“I cannot act either way without the president giving me a blessing. Ideally the president is the minister of Finance,” Kasaija said last week.

Insider sources within the central bank told The Nile Post that Kasekende had made preparations to leave, possibly as early as Friday January 10.

With reports that Makerere University Business School (MUBS) Principal Prof. Wasswa Balunywa could be tipped to replace Kasekende, it would appear that the long serving deputy governor is running his final leg.

It had 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.

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.