By Andrew Irumba
Bank of Uganda (BoU) has announced that seven of its aging, long serving directors will be going into retirement soon, to pave way for recruitment of new, young brains, a move many pundits have interpreted as a move to start cleaning up the bank and allow fresh minds, going forward.
On April 24 2020, BoU issued an internal advert for seven positions of executive directors and directors within the institution.
In its internal advert the central bank said it was targeting its existing staff and were advised to apply not later than 22 May 2020.
BoU is searching for two executive directors; the one for Information Technology (EDT) and that of Operations.
Suitable candidates must have at least two years of experience serving substantially at the rank of director within the bank.
The other five directors being sought are director Financial Markets, Medical Administration, director Non-Bank Financial Institutions (DNBFI), director Financial Stability, and Human Resources. Other vacant positions are director of currency and economic advisor to the governor.
To qualify to be a director, according to the advert, one must have served as Head of Division for a minimum of two years.
In the advert undersigned by Mr Solomon O. Oketcho, the Executive Director Administration at BoU, only a maximum of five candidates shall be presented for oral interviews by the board.
“If the shortlisted candidates are more than five, written leadership and management test shall be administered and a maximum of five successful candidates shall be shortlisted,” the advert further said.
According to sections of the leaked report which a source at BoU had seen, several directors who are currently holding offices had long been recommended for sacking or retired in public interest.
The report, we’re told has been under the arm pits of Prof.Mutebile because he was among the officials mentioned in the report that was supposed to be retired in the public interest. “The man has been hiding this report like nothing,” a source told this reporter.
The directors listed are head legal services, Margaret Kasule, Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Director Statistics Charles Abuka, Director Medical Administration, Olive Kamuli, Director Financial Markets, and David Sajjabi. Others are director Administrative Services plus a host of deputy directors.
However, it’s said the report created panic at the central bank whereby it is believed to have targeted only those directors who are said to have forged their ages.
Parliament in 2018 recommended that contracts of the governor Emmanuel Tumusiime Mutebile and his deputy, Dr Louis Kasekende should not be renewed, the report of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) had recommended. However, Kasekende’s contract expired and wasn’t renewed.
The report, which was tabled in Parliament last year by Abdu Katuntu, the then chairman, accused the top management of the central bank of mismanaging the sale of seven commercial banks, including that of Crane Bank.
Other officials that COSASE wanted to be held culpable are Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Justine Bagyenda, the former executive director for Commercial Banks supervision and Margaret Kasule, the legal counsel.
