Bank of Uganda seeks to replace seven directors

Five applicants: The Central Bank will at least need five applicants for each advertised position. FILE PHOTO 

By Dorothy Nakaweesi

Bank of Uganda is seeking to replace seven officials at the level of director and executive director,
according to details seen by the Daily Monitor.

In a last Friday internal memo seen by this newspaper, the process will seek to recruit internally with applications limited to candidates who have served as directors or head of division within the Central Bank.

“Applications are invited from suitably qualified candidates for positions due to fall vacant,” the memo reads in part, listing seven positions at the level of director and executive director.

Among the positions advertised, according to the memo and Bank of Uganda sources familiar with the matter, include director medical, currently occupied by Tendo Nsereko, director non-banking financial institutions, occupied by Charles Okello, executive director information technology, occupied by Elliot Mwebya and executive director operations, occupied by Mary Katarikawe.

The four are all expected to retire this year.

Other positions include director financial markets, which was vacated by Stephen Mulema and director financial stability, which had been occupied by Kenneth Egesa.

The two have already left the Central Bank and joined the International Monetary Fund on secondment, according to sources in the Central Bank that asked to remain anonymous because they are not authorised to speak to the media.

In the same memo, signed by Mr Solomon O Oketcho, the Bank of Uganda executive director administration, the Central Bank will also seek to replace the director human resources. The position is currently occupied by Jan Tibamwenda

For each of the vacant positions, the memo said, a minimum of five candidates will be presented for oral interviews but in the event that they are more than five “a written leadership and management test shall be administered by an external institution” to sieve the candidates to the required number.

The memo also noted that successful candidates will be appointed designate at any time pending the exit of the retiring officer.

Ms Charity Mugumya, the Bank of Uganda director for communications, at the weekend confirmed that the positions had been advertised but said she was yet to be furnished with details of the entire process.

“This is an internal advert, so I am wondering how it has reached the media. This was a decision reached by the board. They must have their reasons,” she said, noting she would communicate more details as and when her office gets them.

It is not yet clear when the Central Bank is expected to complete the process.

Not advertised

Daily Monitor has also established that two other positions that had been expected to be filled were not included.
The position of economic advisor to the governor, which fell vacant in 2018, was not among those that were advertised.

Also, according to sources at Bank of Uganda, whereas the director of currency, Mr Charles Malinga is expected to retire this year, his position was not among those advertised.
Asked about the matter Ms Mugumya said the process was a board matter and she could not therefore comment on it.

Mr Malinga, together with other officials at the Central Bank were in June last year aligned before court on corruption charges linked to the unauthorised transportation of cargo together with printed currency on a plane that had been exclusively chartered by the government of Uganda.

Appointed

At the close of last month, President Museveni appointed Dr Michael Atingi-Ego as deputy governor of the Central Bank to replace Dr Loius Kasekende who had left in January after his contract was not renewed.

Dr Kasekende had worked at Bank of Uganda for more than three decades.