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Mutebile was very consistent, resolute & steadfast in monetary policy matters – Bankers’ Association

By Marvin Ocol

Uganda Bankers’ Association (UBA) has said that the fallen Bank of Uganda Governor Prof. Emmanuel Tumusiime-Mutebile will be missed for his great contribution to this country, but most importantly remembered and celeberated for prevailing over numerous economic and banking sector reforms especially in the late 80s, 90s and post 2000,
for being very consistent, resolute and steadfast in monetary policy matters until his demise.

Mutebile died Sunday morning from a Kenyan hospital.

In a statement Sunday by UBA Chairman Mathias Katamba and Executive Director Wilbroad Owor, the Association said “We have this morning learnt with sadness, the demise of Prof. Emmanuel Tumusiime Mutebile, Governor Bank of Uganda.”

On behalf of all member financial institutions and the entire fraternity of the bankers’ association, UBA added: “we convey our deepest condolences to the immediate family, relatives & friends, to Bank of Uganda, to the entire financial sector fraternity and to the country as a whole over this loss of a great shepherd.”

UBA says that Mutebile will remember him for being resolute on no policy reversals at challenging times like 2016 when “our East African sub region weighed options including the possibility of adopting interest rate regimes/caps and Prof Mutebile stood firm on the path of market determined & driven policy approaches.”

“We will miss and remember Governor Mutebile for his jokes and impeccable sense of humor at social moments outside work and his enormous generosity at heart. As we absorb and commiserate over this loss, may the Almighty God who gave us the gift of Prof. Emmanuel Tumusiime Mutebile, receive him in Glory and find for him a very special place,” the statement reads in part.

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