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:
    1. Governor, who is the Chairman
    2. Deputy Governor, who is the Deputy Chairman
    3. The Secretary to the Treasury  who is a member
    4. 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
    Board Committees
    The Board has several committees for effective discharge of its duties. These are the Staffing, Finance, Audit and Works Committee.
     
    Board Meetings
    Board meetings are held at least 10 times in each financial year.