Who will replace Mutebile?

https://observer.ug/news/headlines/72543-who-will-replace-mutebile 

 

There is no doubt that the fallen Bank of Uganda governor Emanuel Tumusiime-Mutebile was an iconic figure, having spent at least 30 years as a top economic and financial technocrat of the government of Uganda.

For this, his replacement is poised to raise interest and excitement among Ugandans and in the international banking and financial fraternity abroad, where he was highly regarded.

During his tenure as the Central Bank chief executive officer and board chairman, Mutebile won several local and international awards, including the 2011 African Central Bank Governor of the Year award at the annual World Bank/International Monetary Fund meetings.

This came at the time when the country’s inflation was at its highest in years, and analysts attributed the situation to two main reasons; the lagging effects of the global financial crisis 2007–2008, as well as the political season that had witnessed a lot of spending by candidates.

Nevertheless, Mutebile was hailed for having a major role in the high economic growth rates for Uganda in the previous two decades. The two Bretton Woods institutions were also the facilitators of Uganda’s economic liberalization policy that took effect in the early 1990s, leading to the divestiture of the then-ailing government corporations and dissolving of national boards.

And, as the permanent secretary in the ministry of Finance, Planning and Economic Development, Mutebile was seen as the main architect of these and other policies. In December 2006, Makerere University appointed him an honorary professor in the School of Economics and Management. And in 2009, Nkumba University awarded him a honorary doctorate for his “outstanding skills as a financial manager,” according to the university chancellor Dr Maggie Kigozi.

One of the attributes Mutebile will be remembered for, is his boldness in addressing critical matters. In 2010, he threatened to resign if revenues from oil production, expected to then commence in 2011, were mishandled or not used in a way transparent all Ugandans.

He told members of parliament that the money would be used to maintain macroeconomic stability and to provide services for growth. Unfortunately, he has died 11 years later, before oil production even starts.

At the beginning of his tenure as governor, the born of Kigezi threatened to resign if President Museveni agreed to bail out businessman Hassan Basajjabalaba with Shs 21 billion to revive his business.  However, after mediated negotiations between him and the president, Mutebile agreed to release the money after the businessman deposited his land titles with the bank.

In 2012, under pressure from parliament, a cabinet sub-committee grilled him over the Basajjabalaba deal which was now at Shs 141 billion but he convinced them that he was acting under instructions. The following day, journalists reminded him about his vows to resign over Basajjabalaba.

"I can assure you I am here for the long haul. There's is nothing that can take me out of this seat except God. Therefore, the market shouldn't worry about the rumblings in parliament.  Nothing can take me out of this seat. The Constitution gives only one person the right to take me out of this position, and that is the president. It gives him only three reasons: insanity, dishonesty and incompetence. As you can see, I am not insane, and I am an honest man," he retorted.

In 2018, at the Africa Block-Chain Conference in Kampala, Mutebile openly opposed President Museveni for allowing digital currency or cryptocurrency, saying it would encourage money laundering since it cannot be regulated.

Museveni thereafter appealed to him to “be more inquisitive, not dogmatic” before deciding on the issue. In the same year, Mutebile again opposed Museveni and the government proposals to build a currency printing factory to print Uganda’s currency locally, saying it would be costlier and redundant as the economy moves towards digitization. That is the man who, the appointing authority has to replace.

How Booze Is Driving Bank of Uganda Governor Prof Emmanuel Tumusiime Mutebile to His Grave

https://ugandansatheart.blogspot.com/2015/05/uah-how-booze-is-driving-bank-of-uganda.html 

12 May 2015  Stephen K Muwambi

The story of Prof Mutebile's ill-health is common place. The man responsible for managing Uganda's economy is under-going treatment in South Africa.

But what is it really that is weakening the jolly and internationally renowned economist? The answer is right here in these pages. Just concentrate on reading.

Concerned pals of Mutebile, some of them fellow economists, doctors, working in Bank of Uganda and in government, opened up about their friend's heavy drinking habits. They say it must be the reason why his health is degenerating.

According to these sources, their friend has been literally feeding on the heaviest of whiskeys for a longtime

"When he gets inside the bar, Mutebile forgets anything to do with eating. He attacks booze  with Red Banton's thirst and imbibe it with Gen Kahinda Otafiire's concentration," our informer within Mutebile's circles report.

On a good day, our informers narrate how Mutebile can drown two to three gigantic bottles of Red or Blue Label Whisky.

To make us understand clearly how heavy a drinker Mutebile is, our informers likened him to presidential advisor, John Nagenda. Old John is another dedicated fan of heavy whisky brands.

One of high end Ugandans, who knows Mutebile very well, says he normally takes his bitter at Mosa Courts Apartments. Mosa Courts are owned by the NRM second-in-command, Hajj Moses Kigongo.

He also drinks at Grand Imperial. This is when he has to attend Kampala Rotary meetings. The governor is a member of Rotary Club of Kampala Arch. When meetings have ended; he goes straight to Copper Bar. This bar is patronized by loaded members of society. Once inside, he finds his serving of whisky already done by waitresses. Then, he gets down to work at hand.

 A journalist, who has covered functions that are attended by Mutebile, offers how organizers never miss to reserve whisky for the governor.

He recounts how Mutebile has been employing a youngman lately to lift his leg, while the governor is getting out and inside his luxurious bullet-proof limousine.

"The youngman walks by Mutebile's side just in case he slips to move faster and help him maintain balance," reports the journalist.

Looking at the governor at close range, the journalist offers, shows a man whose skin is dry and pale, for person of Mutebile's wealthier status.

Now medical doctors approached for this article warn of how heavy alcohol brands, taken on an empty stomach, can end up seriously affecting the partaker's internal organs such as the liver and kidneys.

"Alcohol taken in large quantities over a long time takes its toll on the liver and kidneys. Those organs sieves poison what we drink and feed on. Once one drinks heavily, the organs get overwhelmed by poison. What follows is that the heavy drinker's internal organs lose the body to eliminate poison and it accelerates his death,' doctors warn.

The professionals have talked. We have nothing useful to add, but to hope that the governor is taking heeding.