The last one month has been a long wait for now former Deputy Governor of Bank of Uganda Dr. Louis Kasekende. He was waiting for word about the renewal of his contract from the appointing authority President Yoweri Museveni. That word hasn’t come and he has today handed over his office to Governor Emmanuel Tumusiime Mutebile.
It has been an unceremonious end to his tenure as Kasekende, 61, tried everything humanly possible to retain his job. He was actually hoping to become the next Governor as his boss Mutebile’s contract expires in January next year.
Kasekende had the Finance Minister Matia Kasaija write to President Yoweri Museveni about his re-appointment in November last year. The message to the President was later accompanied by a dossier penned by Kasekende himself, indicating why he should be re-appointed.
In times of adversary, you even turn to foes for help. Not exactly his foe, but a man who is also a possible replacement for Mutebile, it was surprising that Kasekende turned to the Secretary to the Treasury Keith Muhakanizi to also put in a word for him.
Kasekende also turned to the Catholic church, enlisting the help of Arch Bishop Cyprian Kizito Lwanga and reportedly the Kabaka of Buganda to beseech President Museveni to keep him in office. Despite all these efforts, Museveni was mute.
It seems as Kasekende watched the clock tick awaiting news of his re-appointment, the appointing authority was also counting the clock for him to kick-start change in the BoU leadership.
Kasekende’s blotted CV
On of the most respected economists in the country, having served both Bank of Uganda and the World Bank, Kasekende was actually looked at as a fit replacement for Mutebile until his CV was blotted with several scandals.
Both the Auditor General and Parliament’s Probe into the closure and takeover of seven commercial banks pointed to collusion and possible corruption among BoU officials and beneficiaries.
Kasekende was also on a collision course with his boss Mutebile and BoU had developed factions, something that didn’t amuse the presence.
The President also sent in his own State House Anti-Corruption unit to probe Bank of Uganda after it turned out that a plane chartered to fly in newly printed currency notes arrived with five extra pallets. There were reports that BoU officials had printed extra cash for their own benefit. They denied this saying the pallets belonged to several business men and the UN. Either way, it was flouting of procurement procedures as the plane had been fully chartered for currency notes.
We await news on who Kasekende’s replacement will be.
