BOU Responds to Reports of 250 Senior Staff Losing their Jobs


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The Bank of Uganda (BOU) has responded to media reports that its organisational structural review process may force over 250 senior principal banking officers to lose their jobs to eliminate duplication and unnecessary directorates.

In the news article published by the Daily Monitor on Monday, August 2, 2023, it is alleged that a section of officers at the Bank of Uganda petitioned President Museveni to halt the structural review process after it was realised that the process intends to delete loyalists of the late Governor Emmanuel Tumusiime Mutebile from the bank’s top positions.

However, Kenneth Egesa, the director of communications at the Bank of Uganda, said that the organisational structural review process is aimed at reviewing and aligning its organisational structure to facilitate the delivery of its new strategic plan for 2022–2027.

“The structural review process involved a consultative approach, which began in June 2022 when an external consultant was engaged through a public procurement process. The consultant conducted an organisational structural re-engineering, resulting in proposals for a new structure.” The statement released by the BOU on August 7 read, in part,

Egesa retaliated by saying that implementing the new structure has been paused to allow the board of directors to review and address some key issues raised in relation to the implementation processes before proceeding further.

According to Egesa, the BOU acknowledges that implementing comprehensive structural changes to achieve ambitious goals may present challenges in structural adjustments and their impact on individual staff. However, the management has put in place mechanisms to formally receive and consider both structural and individual issues.

He further said that the new organisational structure will strengthen their ability to deliver on the mission, navigate emerging challenges, achieve operational excellence and support their contribution to the increased monetization of the Ugandan economy.

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