President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the new governor of the Bank of Uganda, ending more than three years of uncertainty following the death of Emmanuel Tumusiime-Mutebile in January 2021.

Atingi-Ego, who served as deputy governor, steps into the role permanently after speculation over the prolonged vacancy and absence of an acting appointment. His leadership is expected to bring renewed focus to the central bank’s monetary policy and financial stability efforts.

In a simultaneous move, Dr. Augustus Nuwagaba, an economist known for his work in economic transformation, was named deputy governor, according to Sandor Walusimbi, the senior presidential press secretary.

Atingi-Ego, a veteran economist, previously served as executive director at the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI) in Harare, Zimbabwe, before his tenure as deputy governor. His extensive experience spans monetary policy formulation and financial sector oversight.

Nuwagaba, an international consultant specializing in economic transformation and wealth creation across Africa, holds an MBA with a focus on central bank monetary policy and its influence on commercial banking competitiveness.