The Bank's Governance

The Bank's compliance with principles of good corporate governance is reflected through a properly constituted Board of Directors.

How 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-appointment.

Composition of 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 member 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.

Members of 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 since January 12, 2011)
  • Dr. Louis Kasekende - Deputy Governor and Deputy Chairman
  • Mrs. Susan Wasagali Kanyemibwa- Board Secretary
  • Dr. William Kalema- Board Member
  • Mr. James Kahooza- Board Member
  • Mrs. Judy Obitre-Gama- Board Member
  • Mr. Keith Muhakanizi- Board Member
  • Ms. Josephine Okui Ossiya - 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.