Mutebile, Kasekende Cliques Threaten BoU Existence

Cliques loyal to Governor Emmanuel Tumusiime Mutebile and his Deputy Louis Kasekende are threatening to cripple the operations of the central bank, which could have a trickledown effect on the economy, a report compile by a committee set up by President Yoweri Museveni said.

The committee was investigating the recruitment process at the central bank following the sacking of former Bank of Uganda Executive Director Justine Bagyenda before expiry of her contract last year. The leaked report was authored in February this year.

Online publisher PmlDaily said the said recruitment saw some staff controversially demoted and others externally recruited amid allegations that the Governor was promoting favouristim and nepotism.

And now the report, a copy of which PML Daily saw, says that the BoU staff interviewed during the investigation said that there were factions or cliques in the Bank polarized around the positions of the Governor and the Deputy Governor.

“As concerns the existence of cliques, one staff went further to characterize the cliques as potentially religious-based. In the words of the staff in question, ‘There is a risk of divisions according to religion in that Bank. Catholics and Anglicans have their own groups. They have meetings and each has its own power,’ ” the report reads in part.

While there was no evidence was found to suggest that the two principals at the Bank had any hand in the formation of the cliques, it was increasingly clear to the Committee that cliques do exist in the Bank and that to that extent the Bank was polarized.

Almost all the staff interviewed alluded in one way or another to the existence of the cliques while at the same time denying being part of either clique. From the various interviews held with staff it was noted that there are camps at the Bank aligned to the Governor or Deputy Governor.


Last modified onTuesday, 02 July 2019 12:07

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