The World Bank and International Monitory Fund – IMF family is disturbed by news of fallen Bank of Uganda Governor, Emmanuel Tumusime Mutebile .
In a statement released earlier, Bank of Uganda said “It’s of profound sadness that the Bank of Uganda announces the death of its gallant governor Prof Emmanuel Mutebile..”
Bank of Uganda Governor, Prof. Emmanuel Tumusiime-Mutebile, died at dawn of Sunday at Nairobi Hospital in Nairobi, Kenya.
Uganda’s veteran journalist Andrew Mwenda has described fallen Bank of Uganda Prof Emmanuel Tumusiime Mutebile as a great architect of Uganda’s economic recovery, “..this titan of our banking industry, this intelligent, magnanimous and generous soul, this friend of all and enemy of no one, rested this morning at 5.30am. RIP my friend! You have been a true giant!” Mwenda tweeted with Mutebile’s photo as his new profile picture.
The King of Toro His Majesty Oyo Nyimba Kabamba Iguru IVand Chairperson is World Monarchs Summit Secretariat in post said;
“Saddened to learn of the passing of Bank of Uganda Governor Prof. Emmanuel Tumusiime Mutebile. We’ve lost a true statesman who served his Country diligently & has been a great friend of Tooro. My prayers and heartfelt condolences to his family, friends & the entire country. RIP”
At 72 years of age, Mutebile was the longest serving chief executive in the history of Bank of Uganda.
Sources to HICGI News Agency said a fortnight ago, Mutebile was rushed to Nakasero Hospital in Kampala in critical condition.
He was later evacuated to Nairobi hospital for emergency attention.
Family members confirmed Mutebile’s death which occurred at around 5:00am.
Born on January 27, 1949, the deceased was three days to his 73rd birthday.
State Minister of ICT, Godfrey Kabbyanga tweeted: “I am saddened by the news of the passing on of our gallant Elder Prof. Emmanuel Mutebile who has also been the Governor @BOU_Official, a distinguished scholar and Rotarian.”
He added: “My deepest sympathies to the Board of @BOU_Official & its staff, the family and the rotary fraternity.”
Mutebile has served as Governor and Chairman of the Board of Directors of the Bank of Uganda since 2001 to date.
A seasoned professional economist and reformer, he spearheaded the design and implementation of the Economic Reform Program that restored Uganda from the economic crises of the 1970s and 1980s to sound economic performance during his service as the Permanent Secretary/Secretary to the Treasury in the ministry responsible for finance, planning, and economic development.
He is credited with many of the sound economic policies adopted by the Uganda government at the urging of the central bank during the 1990s and the first decade of the 2000s.
Tumusiime -Mutebile attended Kigezi College Butobere for his O-Level studies (grades S1-S4). He then attended Makerere College School in Kampala, Uganda, for his A-Level studies (grades S5-S6). In 1970, he entered Makerere University, where he was elected president of the university Students’ Guild.
He was forced to flee Uganda in 1972 after he gave a speech publicly criticizing the expulsion of Asians from the country by Idi Amin. He fled to England via Tanzania, and was able to finish his studies at Durham University, graduating with an upper-second in Economics and Politics. In October 1974, he began his post-graduate studies at Balliol College, Oxford, before returning to East Africa. He entered the University of Dar es Salaam to lecture and conduct research while pursuing his doctorate in economics.
Between the year 1979 and 1984, Tumusiime-Mutebile was appointed to several government positions in Uganda ranging from deputy principal secretary to the president at State House in 1979, to undersecretary in the ministry of planning in 1981 where he rose to senior economist and then chief economist in 1984. In 1992, he was appointed permanent secretary to the newly combined ministry of finance planning & economic development, a merger that he had advocated while working under Minister of Finance Gerald Ssendaula.
He is the longest serving chief executive in the Bank of Uganda’s history. He is credited with many of the sound economic policies adopted by the Uganda government at the urging of the central bank during the 1990s and the first decade of the 2000s.
Since 2006, he was a visiting professor in the Department of Economics at Makerere University, the oldest and largest university in Uganda. Tumusiime-Mutebile was the chancellor of the Internationalization University of East Africa, a private university established in 2011, with an urban campus in Kampala, Uganda’s capital. In 2009, Nkumba University, a private university based in Nkumba, near Entebbe, awarded him an honorary Doctor of Philosophy degree in recognition of his “great contribution towards the development of Uganda’s financial sector”.