By Moses Kaketo
Former Deputy Governor of the Bank of Uganda, Dr. Louis Kasekende 62, is the new Executive Director Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI).
The Ugandan economist defeated four candidates to secure the lucrative job. He officially started work late last month. He joins the growing list of Ugandans shining abroad.
Dr. Kasekende replaces Mr. Michael Atingi-Ego, who was appointed Deputy Governor of the Bank of Uganda on April 23, 2020. Mr. Atingi-Ego served in the same position from September 2018.
The MEFMI, is a multinational capacity building institute based in Harare, Zimbabwe.
During the 1980s and 1990s, many countries in the Africa region faced entrenched problems in the capacity for debt and reserves management as well as macroeconomic management. In response, senior economic officials and financial managers in Eastern and Southern Africa launched the Eastern and Southern Africa Initiative in Debt and Reserves Management (ESAIDARM) in 1994, whose mandate was later broadened to cover macroeconomic and financial management issues and renamed the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) in 1997.
‘‘The position may not be high profile compared to his former position. However it comes with a host of benefits’’ said an analysts In Kampala.
Dr. Kasekende resigned his job at the Bank of all Banks in Uganda in January 2020, after the appointing authority, President Museveni failed to renew his contract.
According to knowledgeable sources, Dr. Kasekende will take home about $25,000 per month, tax free. The position also comes with benefits like medical care, he is also treated as a diplomat. Also 75 percent school fees for his children under the age of 18 will be catered for by the organization.
The MEFMI activities put special focus on: Macro-economic management which deals with analysis of the economy, planning and forecasting, Financial Sector Management, which covers financial market development, foreign exchange reserves management, regulation and supervision of financial institutions, payment systems and monetary policy implementation and Sovereign Debt Management, which encompasses debt database development and management, institutional and legal aspects, analysis, policy and strategies.
Dr Louis Kasekende first served as Deputy Governor between 1999 and 2002. Between 2002 and 2004, Dr Kasekende served as the Alternate Executive Director and later as the Executive Director at the World Bank for Africa Group.
In May 2006 to 2009 he served as the chief economist at the African Development Bank.
Prior to the above, he had worked at Bank of Uganda for 17 years in several capacities which included serving as the Director for Research Department.
The writer is a Distribution and circulation expert. Social media fan. He sees business in everything. He loves writing business news, reviews and analyses.
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comments from the readers
Nobody puts a good man down! Congs #LouisKasekende. Keep walking…
— Samuel Sejjaaka (@samuelsejjaaka) February 23, 2021
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Conglaturations,Dr kasekende,l trust,the sky is always your limit.