By The Bank of Uganda (BoU) has announced key appointments to its top management, signaling a new phase of reform within the institution. Ms. Ann Margaret Kasule has been appointed as the Executive Director of Legal Services, while Mr. Collin Babirukamu will assume the role of Executive Director of Information Technology (IT).
Dr. Michael Atingi-Ego, the Deputy Governor of BoU, confirmed the appointments in an internal memo dated January 28. Ms. Kasule has already taken up her position, while Mr. Babirukamu is expected to join in March, following his notice period as Director of E-Government Services at the National Information Technology Authority – Uganda (NITA-U).
The restructuring comes in the wake of last year’s IT security breach, during which Shs50 billion was fraudulently redirected through compromised bank systems. Insiders have indicated that these appointments are part of broader efforts to modernize BoU’s administrative structure and address vulnerabilities within the institution.
Ms. Kasule, who has served as legal counsel at BoU since 2004, brings extensive experience to her new role. Her appointment follows the creation of the Executive Director of Legal Services position as part of a 2023 restructuring exercise conducted by KPMG. The role had remained vacant until now, amidst internal debates over staffing changes and management realignment.
Meanwhile, Mr. Babirukamu’s appointment has sparked mixed reactions within the IT directorate. While his extensive experience, including roles at the National Social Security Fund (NSSF) and Oracle East Africa, is widely acknowledged, concerns have been raised about the recruitment process. Some senior BoU IT staff have expressed dissatisfaction, citing the institution’s HR policy, which prioritizes internal candidates for promotions. However, the BoU board reportedly concluded that internal candidates lacked the required qualifications, justifying external recruitment.
BoU’s Director of Communications, Mr. Kenneth Egesa, defended the hiring process, emphasizing its transparency and fairness. He noted that both internal and external candidates were carefully evaluated before final decisions were made.
The IT directorate’s challenges have been under intense scrutiny following the September 2023 heist, which exposed significant weaknesses in BoU’s digital infrastructure. Consultancy firm PwC, engaged to investigate the breach, traced the origin of the scam to the Ministry of Finance, where $14.7 million (Shs53.5 billion) intended for international debt servicing was diverted to private accounts in Japan and the UK.
The fallout from the incident has led to an ongoing criminal investigation by the Police’s Criminal Investigations Directorate (CID). While no BoU staff members have been directly implicated, internal sources suggest that the appointment of Mr. Babirukamu is part of efforts to overhaul the IT directorate and prevent future breaches.
At the Ministry of Finance, the incident has triggered a series of corrective measures, including staff interrogations and internal reforms. Permanent Secretary and Secretary to the Treasury, Mr. Ramathan Ggoobi, has warned of strict accountability measures, stating that individuals found culpable will face professional and personal consequences.
The race to fill the Accountant General’s position, as the incumbent Mr. Lawrence Semakula prepares for retirement, has also intensified. The competition reportedly involves senior ministry officials linked to past financial irregularities, further complicating the ministry’s efforts to restore public trust.
As BoU works to strengthen its leadership and address systemic vulnerabilities, the appointments of Ms. Kasule and Mr. Babirukamu represent a critical step toward ensuring institutional integrity and operational resilience in Uganda’s financial sector. The developments are being closely watched by stakeholders and the public, as the country navigates these significant governance challenges.
