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The Bank's Governance
The Bank's compliance with principles of good corporate governance is reflected through a properly constituted Board of Directors.
How the Board is appointed
According to Article 161 of the Constitution of the Republic of Uganda, 1995 article 2, "The authority of the Bank of Uganda shall vest in a Board which shall consist of a Governor, a Deputy Governor and not more than five other members."
Aritcle 3 states that "The Governor, the Deputy Governor and all other members of the Board shall:
a. be appointed by the President with the approval of Parliament
b. hold office for a term of five years but shall be eligible for re-appointement.
Composition of the Board of Directors
The Board of Directors consists of:
Governor, who is the Chairman
Deputy Governor, who is the Deputy Chairman
The Secretary to the Treasury who is a member
At most 4 non-executive Directors
Board members can be appointed at different times and are eligible for re-appointment.
A Board Secretary, who is an employee of the Bank, is appointed by the Board to facilitate the Board business.
If a Board members dies, resigns or otherwise vacates office before the expiry of the term for which he/she was appointed, another person may be appointed and the person so appointed will hold office for the remaining period of the term of office of the person in whose place he/she is appointed.
The Board of Directors
The members of the Board of Directors of the Bank of Uganda are:
Prof. Emmanuel Tumusiime Mutebile - Governor and Chairman (currently serving a third five-year term of office from January 12, 2011)
Dr. Louis Kasekende - Deputy Governor and Deputy Chairman (serving a second 5 year term of office from January 2010)
Mr. George W. Nyeko- Board Secretary
Dr. William Kalema- Board Member
Mr. James Kahooza- Board Member
Ms. Judy Obitre-Gama- Board Member
Mr. Ibrahim Kabanda- Board Member
Mr. Christopher M. Kassami- Board Member
The Board has several committees for effective discharge of its duties. These are the Staffing, Finance, Audit and Works Committee.
Board meetings are held at least 10 times in each financial year.
- Central Bank Rate (CBR)
- Inflation Rates
|April 2013||May 2013|
- Exchange Rates
- June 19, 2013
- Financial News Report
|T/Bills (91 days)||9.36||9.81|
|T/Bonds (2 years)||12.98||12.98|
|T/Bonds (3 years)||14.66||14.66|
|T/Bonds (5 years)||14.73||14.73|
|T/Bonds (10 years)||14.14||14.14|
- Commercial Bank Rates
|Lending Rate||24.62||April 2013|
|Deposit Rate||2.77||April 2013|