Home News Mutebile’s Successor: Byarugaba, Bahati and Prof Nuwagaba Tops Kigezi’s Favorites’ List

Mutebile’s Successor: Byarugaba, Bahati and Prof Nuwagaba Tops Kigezi’s Favorites’ List


Following the death of Prof. Emmanuel Mutebile, the longest-serving Governor of the Bank of Uganda (BOU) Kigezi Region has presented a list of its favorite candidates whom they request president Museveni to consider while appointing the new Governor.

During Mutebile’s burial last week, Nelson Shanga, the LC V of Kabale district asked president Museveni to retain this seat and ringfence it to the Kigezi region since it is the only one they are remaining with.

Since then, a section of opinion leaders including; youths, Clergies, community, and political leaders have taken this matter seriously and even proposed names that they want President Museveni to consider.

The list contains;  Mr. Richard Byarugaba, the Executive Director in Charge of Finance at BOU, Hon. David Bahati the Minister of State for Investment, Prof. Augustine Nuwagaba a Consultant at REFF Consultants.

Richard Byarugaba

Mr. Byarugaba is currently the Executive Director of Finance at BOU and with a spanning experience of 30 years in the banking sector.

He joined the BOU in May 1992 shortly after his Bachelor’s degree. He is a Fellow of the prestigious Association of Chartered Certified Accountants (ACCA) in the UK and a member of the Institute of Certified Public Accountants (ICPAU).

He has since worked in various departments, namely; Banking Supervision, Domestic Financial Markets, Internal Audit, National Payments Systems, and Banking until he rose to his current position.

In his current position, Byarugaba is in charge of overseeing the Accounts Department, National Payment Systems Department, and the Agricultural Credit Facility. “During his tenure, he worked so hard to ensure that the National Payment Systems Act 2020 was enacted and over 11 payment system providers and Fintechs have been licensed,” said one of the sources that spoke to DaParrot.

Mr. Byarugaba chairs the Investment sub-committee that makes tactical decisions on the investment of the National Foreign Reserves. This is in addition to chairing other committees especially the Board of Trustees for the Bank of Uganda defined contribution retirement scheme and member of the Bank of Uganda defined benefit retirement scheme.


Honorable David Bahati is the Minister of State for Trade, Industry, and Co-operatives responsible for supervising the implementation of the Industrialization programs of the country.

Prior to his role as Minister of State for Trade and Industry, he served as the Minister of State for Finance, Planning and Economic Development (Planning) from 2015 to 2021 responsible for economic development planning of the country.

Currently, he is the Member of Parliament (MP) for Ndorwa County West since 2006 he has consistently been voted the best performing Member of Parliament and Minister of the Republic of Uganda by the Institute of Strategic Studies.

Throughout his 15 years of Public Service, the Hon. Minister Bahati has been a passionate community leader and advocate with a proven track record of results in the areas of National Planning and Economic Development, Public Sector Financing of SMEs, health, job creation, and entrepreneurship.

Hon. Bahati holds a Masters of Business Administration (MBA) from Cardiff University (UK); a Bachelor of Commerce from Makerere University Kampala and is a Fellow of the Certified Chartered Accountants (FCCCA-UK) as well as a Member of the Institute of Certified Public Accounts of Uganda (ICPAU).


Augustus Nuwagaba is an international consultant on economic transformation. He is a wealth creation expert in Africa. He is qualified (MBA) in the application of central bank monetary policy on commercial bank competitiveness.

 Prof. Nuwagaba has worked intensively in the analysis of fiscal metrics for governments in Africa, review of financial performance, and analysis of tax policies. He works as the managing consultant at REEV Consult International Limited, a private consultancy firm, incorporated in Uganda, with headquarters at plot 515 Bombo road within the city of Kampala, Uganda’s capital and largest city.

He was Consultant for the African Peer Review Mechanism under NEPAD, was a member of the African Regional Panel of Experts on Development. Nuwagaba is a member of the World Bank Consultative Group that developed the African Plan of Action.

He was the team leader of FINSCOPE – Financial Penetration Project (2013). He was a team leader for Developing Financial Management and Training manual for Parliamentary Accountability Committees, member of the audit committee of the Ministry of Finance Planning and Economic Development of the Republic of Uganda, winner of International Award for significant contribution to World Society and Appears In World Who is Who (2004), page 336.

In addition, he was a consultant for the mid-term review of the National Development Plan for the Republic of Uganda [2010/11–2014/15].

He is a consultant for formulating the East African Community development investment plan (2016/17-2020/21). Nuwagaba is a regular speaker at the induction of members of the parliament of Uganda.

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