By Frank Kamuntu
In a significant move for Uganda’s financial sector, President Yoweri Museveni yesterday appointed Professor Augustus Nuwagaba as the Deputy Governor of the Bank of Uganda. His appointment marks a strategic shift towards research-driven economic policies and financial stability.
Prof. Nuwagaba, a renowned economist and international consultant, has built a career shaping economic policies across Africa. His expertise in economic transformation, financial governance, and public policy makes him a valuable addition to the central bank’s leadership.
During the recent Tarehe Sita celebrations in Kyotera District, Nuwagaba launched his book, “Transformative Economics,” a detailed analysis of Uganda’s economic history from 1894 to the present. President Museveni, who officiated the launch, praised the book for its comprehensive insight into Uganda’s financial evolution.
Academic & Professional Credentials
Prof. Nuwagaba holds a Master of Science (MSc) from the London School of Economics (LSE) and an MBA and PhD from Makerere University. His academic background has positioned him as a leading expert in economic development and financial management.
Over the years, he has provided consultancy services to major institutions, including the United Nations (UN), the World Bank, and the African Union (AU). Some of his key contributions include:
- UNDP Uganda Consultant (2020-2025): Led the development of Uganda’s National Research Agenda and the Uganda Country Programme.
- Economic Impact Analysis of COVID-19 (2020): Conducted a UN-backed study on the pandemic’s effect on Uganda’s manufacturing sector.
- African Peer Review Mechanism (NEPAD): Contributed to Uganda’s national development assessments.
- World Bank Consultative Group Member: Advised on financial sector reforms and economic governance.
- Diaspora Investment Research: Assessed the role of Ugandan diaspora investments in national development.
A New Direction For the Bank of Uganda
With Uganda’s economy facing challenges from global financial shifts, Prof. Nuwagaba’s appointment signals a focus on data-driven monetary policies, economic resilience, and investor confidence. His research-based approach is expected to strengthen the Bank of Uganda’s role in stabilizing the financial sector.
As Deputy Governor, he will work alongside Governor Michael Atingi-Ego to navigate Uganda’s financial landscape, ensuring prudent monetary policies and fostering sustainable economic growth.
His appointment reflects Uganda’s commitment to economic expertise and strategic policymaking, reinforcing confidence in the country’s financial governance and long-term development.
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