Adam Mugume

Last updated

Adam Mugume
NationalityUgandan
Alma mater
OccupationCentral banker
Years active2011–present
Known for Economics
TitleActing Deputy Governor and Director of Research of the Bank of Uganda
SpouseVirginia Mugume
Children3

Adam Mugume is a Ugandan economist who serves as the Director of Research & Policy at Bank of Uganda, a position he has occupied since 2011. From 27 March 2020 until 3 August 2020, Dr Mugume served as the Deputy Governor of the Bank of Uganda, the country's central bank, in acting capacity, [1] before Michael Atingi-Ego, the substantive Deputy Governor took up office. [2]

Contents

Education

Mugume holds the degree of Bachelor of Arts (BA) in Economics from Makerere University. His Master of Arts (MA) degree in Economics was obtained from the University of Botswana in Gaborone. His Doctor of Philosophy (PhD) degree, in Economics, was awarded by the University of Oxford in the United Kingdom. [1]

Career

Adam Mugume served as the head of the department of Economic Theory and Analysis at Makerere University. He taught econometrics, considered to be the hardest course unit, by those whom he taught. He is an expert in economic forecasting and policy analysis. His other areas of specialisation include macroeconomics, applied econometrics, and fiscal and monetary policies. [3]

Other considerations

In January 2020, the employment contract of Louis Kasekende, the Deputy Governor of the Bank of Uganda from 2010 until 2020 expired, after two consecutive 5-year terms. The contract was not renewed by the head of state; the appointing authority. So Kasekende left the central bank. [4]

On 27 March 2020, two months after the position fell vacant, the board of directors of the central bank, headed by its chairman, appointed Mugume to serve as Deputy Governor of the central bank, until a substantive appointee is named by the president of Uganda. [5]

Two days later, the president of Uganda, named Michael Atingi-Ego as the new substantive Deputy Governor of Bank of Uganda. [6] Atingi-Ego was confirmed by Parliament on 16 April 2020. [7] However, due to the Covid-19 travel restrictions, he has not yet traveled from Zimbabwe to Uganda to take up his appointment, so Mugume is the acting Deputy Governor as of June 2020. [8]

See also

Related Research Articles

<span class="mw-page-title-main">Makerere University</span> Ugandan public university

Makerere University, Kampala is Uganda's largest and oldest institution of higher learning, first established as a technical school in 1922. It became an independent national university in 1970. Today, Makerere University is composed of nine colleges and one school offering programmes for about 36,000 undergraduates and 4,000 postgraduates. The main administrative block was gutted by fire in September 2020 and the cause of the fire is yet to be established.

<span class="mw-page-title-main">Ezra Suruma</span> Ugandan economist, politician and academic

Ezra Suruma, is a Ugandan economist, banker, and academic. He became the chancellor of Makerere University in January 2016. He formerly served as a senior adviser to the president of Uganda on finance and economic planning, a position he held from 16 February 2009 until 15 January 2016.

Before Uganda's independence in 1962, the main banks in Uganda were Barclays ; Grindlays, Standard Bank and the Bank of Baroda from India. The currency was issued by the East African Currency Board, a London-based body. In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government-owned Uganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development bank was a state-owned development finance institution, which channeled loans from international sources into Ugandan enterprises and administered most of the development loans made to Uganda.

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.

Crane Bank Limited is a commercial bank in Uganda licensed and supervised by the Bank of Uganda (BOU), the central bank and national banking regulator. Crane Bank was acquired by DFCU Bank in January 2017 at a cost of Ush200 billion on grounds that it was undercapitalized as declared by the regulator Bank of Uganda.

Emmanuel Tumusiime-Mutebile was a Ugandan economist and banker. He served as the governor of the Bank of Uganda, the central bank of Uganda from 2001 until his death on 23 January 2022.

<span class="mw-page-title-main">Absa Bank Uganda Limited</span> Commercial bank in Uganda

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. The bank is a subsidiary of Absa Group Limited, a financial services conglomerate, based in South Africa, with banking subsidiaries in 12 African countries and representative offices in two other African countries. Absa Bank Group, whose shares trade on the JSE Limited, was reported to have total assets in excess of US$91 billion, as of October 2019. 

Louis A. Kasekende is a Ugandan economist, who serves as the executive director of the Macroeconomics and Financial Management, Institute of Eastern & Southern Africa (MEFMI), based in Harare, Zimbabwe, since 1 April 2021.

<span class="mw-page-title-main">St. Mary's College Kisubi</span> Public all boys high school (13-19) school in Kisubi, Wakiso District, Uganda

St. Mary's College Kisubi (SMACK) is a private, boarding middle and high school located in Wakiso District in the Central Region of Uganda. Established in 1906.

<span class="mw-page-title-main">Jennifer Musisi</span> Ugandan lawyer, administrator and academic

Jennifer Semakula Musisi is a Ugandan lawyer and public administrator. She is the first City Leader in Residence at Bloomberg Harvard City Leadership Initiative at the Ash Center of the Harvard Kennedy School, in Cambridge, Massachusetts, United States. She was appointed to this position in January 2019.

Steven Kavuma is a Ugandan judge and the immediate former deputy chief justice of Uganda. He was appointed to that post on 5 March 2015. From April 2013 until March 2015, he served as the acting Chief Justice of Uganda, pending the appointment of a substantive Chief Justice by the President of Uganda. However, the way Uganda's judiciary is configured, the Deputy Chief Justice is not a member of the Supreme Court of Uganda, but is a member of the Court of Appeal of Uganda.

Stephen Robert Isabalija, is a Ugandan civil servant, management professional, accountant, academic and academic administrator. He is the immediate past permanent secretary in the Ministry of Energy and Mineral Development in Uganda, having served in that capacity from November 2016, until his termination on 24 August 2017.

Herman Kizito Kasekende is a Ugandan businessman, economist, and bank executive. He is the managing director and chief executive officer of Stanchart Zambia, effective February 2017. Prior to that, from 22 July 2012 until 20 February 2017, he was the managing director and chief executive officer of Stanchart Uganda, the second-largest commercial bank in the country by assets, which totaled nearly US$965 million in December 2012.

The Governor of the Bank of Uganda is chief executive officer and the chairman of the board of directors of the Bank of Uganda. The current governor was Emmanuel Tumusiime-Mutebile, who was first appointed to this position on 1 January 2001, and was re-appointed for a second five-year term on 1 January 2006. In November 2010, he was re-appointed for a third five-year term, effective 12 January 2011. In December 2015, he was re-appointed for a fourth five-year term, effective 12 January 2016.

Benon Mugisha Mutambi is a Ugandan economist and civil servant, who has served as the permanent secretary in the Uganda Ministry of Internal Affairs, since December 2016. Prior to his appointment to the interior ministry, he served as the chief executive officer of Electricity Regulatory Authority (ERA), the government agency responsible for the regulation of electricity tariffs in Uganda.

Tumubweine Twinemanzi, is a Ugandan economist and central banker who, effective 7 February 2018, serves as the Executive Director of the Bank Supervision Directorate of the Bank of Uganda, the country's central bank and national banking regulator.

Brigadier Kenneth Ocen Obwot, is a Ugandan physician, military officer and medical administrator in the Uganda People's Defence Forces (UPDF). He serves as the Deputy Director of Medical Services in the UPDF.

Michael Atingi-Ego is a Ugandan economist, who was appointed Deputy Governor of the Bank of Uganda, on 29 March 2020. At the time of his appointment, he served as the Executive Director of the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI), based in Harare, Zimbabwe.

Dorothy Kisaka, is a Ugandan lawyer and corporate executive who was appointed as the executive director of Kampala Capital City Authority, on 12 June 2020. She replaces Jennifer Musisi, the founding executive director of KCCA, who resigned on 15 December 2018, and Engineer Andrew Mubiru Kitaka, who was the acting Executive Director from December 2018 until June 2020.

Alex Mubiru is a Ugandan economist and public administrator, who was appointed Acting Director General in the Cabinet of the President of the African Development Bank (AfDB), effective 17 December 2021. He concurrently serves as the substantive Director of Strategy and Delivery, in the Office of the President of the AfDB, a position he has held since November 2020. He is based at the bank's headquarters in Abidjan, Ivory Coast.

References

  1. 1 2 Ismail Musa Ladu (27 March 2020). "Dr Adam Mugume to perform deputy governor duties at BoU". Daily Monitor . Kampala. Retrieved 13 June 2020.
  2. Eagle Uganda (3 August 2020). "Dr. Michael Atingi-Ego assumes role as BoU Deputy Governor". Kampala: Eagle Uganda. Retrieved 1 September 2020.
  3. Alon Mwesigwa (10 July 2015). "Who Will Be Bank of Uganda Boss?". The Observer (Uganda) . Kampala. Retrieved 13 June 2020.
  4. Arthur Arnold Wadero (20 January 2020). "Kasekende bows out, bids farewell to BoU Staff". Daily Monitor . Kampala. Retrieved 15 June 2020.
  5. SoftPower (27 March 2020). "Adam Mugume Named Acting BOU Deputy Governor". Kampala: SoftPower Uganda. Retrieved 15 June 2020.
  6. George Okello (29 March 2020). "Museveni names Dr. Ating-Ego new BoU Deputy Governor". Kampala: PML Daily. Retrieved 15 June 2020.
  7. John Tugume (16 April 2020). "Parliament approves Atingi-Ego for BOU deputy governor". New Vision . Kampala. Retrieved 15 June 2020.
  8. Jolly Gwari (6 June 2020). "Covid-19 RECOVERY: Banks to restructure loan Portfolios – BoU". Red Pepper . Mukono, Uganda. Retrieved 15 June 2020.