Michael Atingi-Ego Appointed as New Governor of Bank of Uganda

President Yoweri Museveni has appointed Michael Atingi-Ego as the new Governor of the Bank of Uganda (BoU). Atingi-Ego, who has been serving as the Deputy Governor, now takes on the top role at the central bank.

Alongside his appointment, Prof. Augustus Nuwagaba has been named as the Deputy Governor, bringing in extensive expertise in economic policy and financial management.

Atingi-Ego’s tenure as Deputy Governor saw him play a key role in shaping Uganda’s monetary policies, inflation control, and financial sector stability. His promotion to Governor signals continuity in the Central Bank’s leadership at a time when Uganda is focusing on economic recovery, financial sector reforms, and digital financial inclusion.

The appointment also fills a critical gap following the death of former Governor Emmanuel Tumusiime-Mutebile in January 2022, after which the position remained vacant.

Financial analysts expect Atingi-Ego to maintain the Bank of Uganda’s independence, strengthen the monetary policy framework, and continue efforts to stabilize inflation and foreign exchange rates.

The official swearing-in of both Atingi-Ego and Prof. Nuwagaba is expected in the coming days, after which they will take full charge of Uganda’s monetary policy and banking supervision.