Former BoU Deputy Governor, Dr. Louis Kasekende.

The Deputy Governor of Bank of Uganda (BoU), Dr. Louis Kasekende is this Friday scheduled to hand  over office.

Dr. Kasekende’s contract ends on January 13 but it hasn’t been extended as he so wished. There have been attempts by powerful figures in government led by Secretary to the Treasury/ Permanent Secretary Ministry of Finance, Planning and Economic Planning, Keith Muhakanizi and Finance Minister Matia Kasaija.

It was reported last week that Kasekende had cleared his office of personal belongs as he awaited for the decision on whether he would be granted another contract or extended.

late last year, former Minister of Finance Gerald Ssendawula led a group of religious clerics to meet President Yoweri Museveni at his country home in Rwakitura to plead for his contract renewal or extension. However, as he prepares to hand over office on Friday, his comrades within government and at Bank of Uganda are trying to use the BoU board to have him stay on as they await the decision of the appointing authority.

However, Eagle Online learnt from credible sources that Makerere University Business School (MUBS) Principal Prof. Wasswa Balunywa had been tipped to replace Kasekende despite the mobilization to have his contract renewed/extended.

Prof. Balyunwa served on the Board of Directors of the Bank of Uganda, the country’s central bank and national banking regulator, from 2001 until 2012. He was the serving board chairman of Uganda Airlines, at the time of its liquidation in 2001. His result oriented economic policies turned MUBS from Uganda College of Commerce (UCC) Nakawa to leading business school in the country.

Although cabinet granted MUBS  a university status as Kampala Metropolitan University, the MUBS council feel it is better to retain the current status given that it is the only leading business constituent college of Makerere University majoring in business studies.

Prof. Balunywa was in late December at Rwakitura, President Yoweri Museveni’s country home where he led a delegation of MUBS staff and council members to meet the president and First Lady and Minister of Education and Sports over the long standing salary increment in public Universities.

According to reliable source at BoU, Dr. Kasekende is supposed to leave the number two slot at the central bank mid-January 2020. However, it is understood that given that the board hasn’t renewed or given him an extension of the contract, this has forced Dr. Kasekende to lobby the powerful figures within government without success.

Kasekende has been trying to have his contract renewed and lobbying powerful figures close to the presidency to retain his number two slot at the central bank.

During his reign, Kasekende, BoU witness a number of scandals which included the dubious takeover of crane bank in 2017 plus others and the  Shs90 billion pallet 2019 among other scandals.