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Deputy Governor of Bank of Uganda, Michael Atingi-Ego, has initiated a major reshuffle of top executives after a year of staff resistance. Key changes include David Kalyango moving from Executive Director of Finance to head of bank supervision, replacing Twinemanzi Tumubwine, who now leads the National Payments Systems.

The Deputy Governor Bank of Uganda, Michael Atingi-Ego, has reshuffled the top brass of the central bank after a year of resistance from staff.

David Kalyango, who has been the Executive Director of Finance, now takes over as head of bank supervision, replacing Twinemanzi Tumubwine.

Twinemanzi, who replaced Justine Bagyenda in 2018, was transferred to serve as Executive Director, National Payments systems.

“Following the Board approval of the new Organization Structure on 07 May 2024, and in consideration of the skills, qualifications, competencies and experience, this is to inform you that with effect from 6^th August 2024, Heads of Directorate and Department at the rank of Executive Director and Director respectively have been deployed,” said Atingi-Ego in a staff memo on Monday, August 5, 2024.

Mackay Aomu, who previously served as Director in charge of National Payments Systems has been moved to head the supervision arm of non-bank financial institutions.

Dr Jacob Opolot, who has been holding the position of Executive Director and Economic Advisor to the Governor, has been appointed head of operations which runs the currency docket.

Interestingly, this position has remained vacant.

The Deputy Governor said the “vacant positions will be filled competitively at an appropriate time.”

“As per Bank policy on handing over, Section 6.17 of the Administration Manual, actual movements to the new duty stations will be handled administratively,” he added.

New structure of Bank of Uganda

Phillip Wabulya, who has been the Executive Director Petroleum Investment Fund and Chairman contracts committee, will head Risk and Strategy at the central bank.