HYSTERIA! Amelia lobbies for BoU governor job



Former trade minister Amelia Kyambadde has intensified her secret lobbying for the post of Bank of Uganda governor slot. Amelia, who is currently serving as a senior presidential adviser on trade, hopes to catch the eye of President Yoweri Museveni.

The post has been vacant since the death of Prof. Emmanuel Tumusiime Mutebile last year. Many persons have expressed interest in the post including former finance minister Dr Ezra Suruma who has the backing of Amama Mbabazi and Dr. Ruhakana Rugunda. MUBS boss Balunywa has also been in the picture. NSSF boss, Richard Byarugaba’s colleagues had also started lobbying but they have since lost steam after realising the person they are pushing is more interested in extending his term at NSSF helm instead—his contract has a few weeks remaining.

President Museveni has left Ugandans guessing as to when he will appoint a new governor.


According to security sources this newspaper talked to for this article, the new office bearer must know some economics, but that’s not key. This is because there are systems in place to ensure the country’s macroeconomic stability.

For instance Mutebile had been sick for a longtime before his demise, but it did not create any crisis because there were systems in place.


Therefore, according to analysts, Uganda is not short of economists to pick from for BoU top job but just like Mutebile, they must be proper NRM cadres. Mutebile was one of the original founders of former President Museveni’s Uganda Patriotic Movement (UPM) which participated and lost in December 1980 general elections which were won by Milton Obote’s Uganda People’s Congress.

The election results were disputed, leading Museveni to form the National Resistance Movement and its military wing—the National Resistance Army—with which he waged a guerrilla rebellion against Obote’s government. In 1986, Museveni became president and has been in power since then.

Therefore, to think of being a BoU Governor, you must have NRM blood flowing in veins; not orange but yellow for now. Mutebile managed to lead BoU for 20 years because he was a cadre and knew how to tow the party line. Apart from shooting his mouth once in a while, he was liked by the powers that be. Therefore, the next BoU Governor must fit that bill and not merely talk about economics and controlling inflation.


Pundits also told this publication that to fit in the next Governor’s shoes, one must be politically correct, astute and calculative. All their actions, words, statements and steps must be all well measured. You must read the weather well and Mutebile being a good political meteorologist is a reason he served in that office for all this time.


Pundits further opine that to fit into Mutebile’s shoes, you must be loyal and ready to ensure the regime’s survival and continuity. And this is how one pundit drives this point home: “Your duty is not to control inflation, systems will. You must be ready to kowtow to powers that be. You must enable the sitting government to do its work—if you know what I mean by reading through the lines.” He added: “Being a [BoU] Governor can be equated to a Speaker of parliament who must push for NRM interests, or a Chief Justice, or CDF. This partly explains why the likes of former Speaker Rebecca Kadaga were thrown out. She started being second guessed by the regime.

NRM bosses could no longer sleep comfortably having her as the head of Parliament. Although the role of the Speaker is chairing debate in parliament, the interest of NRM as a party in power supersedes the interest of Parliament as an institution when they are looking for a Speaker.” According to pundits the regime will prefer loyalty and interest of the party when picking the next Governor. Although qualifications, experience and knowledge of economics count, candidates need to be people of good repute and character with a national appeal and loyalty to the party.


Given that the Governor has a duty to ensure the regime’s survival, he or she must be in position to take well-measured and calculated steps. You must know when to talk and not; which battles to pick and avoid; and when to retreat. Lest you may pick enemies whose capacity you don’t know. Given that 90percent of Ugandan businesses are in the shadows, the next Governor must always check backgrounds properly to know where to step.

They must think twice before making key decisions like closing banks, offering loans and financial bailouts, handling licenses, finances, handling key businesses—when to foreclose, elevate and downgrade. Mutebile excelled at this and his wife Betty gave Ugandans a hint while eulogizing him. She told mourners who gathered at Kololo ceremonial ground in Kampala, including President Museveni and Central Bank of Kenya Governor, Patrick Njoroge that it took her a long time to understand Emmanuel because he did not talk much and she would not know what he would be thinking.

She said: “He liked to be very formal in all his dealings. He was such a gentle man. He was very smart. I remember whenever we would be going out, he would make sure that I dress first. I didn’t know why he would harass me ‘get ready, get ready’, little did I know that he waited to see the outfit I would be wearing so that he would select his neckties. That was him. He also wanted me to be as perfect as he was in all that I did. He wanted me to be careful in all my dealings.

He taught me to think before speaking and to ignore petty things. He would say “Betty, think before you speak”. And I have tried. One time, someone talked to us in an unpleasant manner which offended me. When we were alone, I asked him “Surely Emmanuel, how could you let that person go talking like that.” He kept quiet and then later told me “Fortunately for me Betty, I have capacity to keep quiet.”


The appointing authority will also have to balance including key players in the international banking and financial fraternity where the late Mutebile was highly regarded. The Governor must appeal and be acceptable to bodies like the World Bank, International Monetary Fund (IMF), Department for International Development (DFID) and African Development Bank among others. They need someone who can protect their loans and other interests.

Short of that they have the capacity to withdraw funding.  During his tenure as Central Bank Chief Executive Officer and board chairman, Mutebile won several local and international awards including the 2011 African Central Bank Governor of the year award at the annual World Bank/International Monetary Fund meetings. (DO YOU HAVE A HOT STORY (CHEATERS, DIVORCE, VIDEOS, CORRUPTION, LAND WRANGLES, EXPOSES …ETAL) YOU WOULD LIKE US TO PUBLISH? CALL/TEXT/WHATSAPP 0777959024 OR EMAIL redpeppertips@gmail.com)



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