The Board of Directors, Management and staff of the Uganda Retirement Be
nefits Regulatory Authority (URBRA), join the rest of the country to mourn the departed Governor of Bank of Uganda, Professor Emmanuel Tumusiime Mutebile.
Our deepest sympathies go to his family, the Board, Management and Staff of the Central Bank and the entire banking sector.
Professor Mutebile was a true advocate of the Retirement Benefits Sector. As Permanent Secretary, he initiated the pension sector reforms, with a view to eradicate key challenges that afflicted the sector at that time. In his foresightedness, he saw that the sector would grow exponentially and would therefore require standards and regulations. Thus, he advocated the establishment of an independent regulator.
He was particularly keen on promoting prudent and professional investment practices, to ensure the best outcome for all savers. He believed strongly, that the retirement benefits sector was a vehicle for long-term mobilization of domestic savings, which would be crucial to economic growth.
Professor Mutebile was emphatic on scheme good governance and compliance. As a Trustee of the Bank of Uganda Staff Retirement Benefits Scheme, he unfailingly applied for the renewal of his annual licence, and complied with all the requirements of the regulator.
The sector benefitted greatly from his foresighted leadership and we are proud of his contribution towards the development of the retirement benefits sector.
As we remember Professor Mutebile, we pay tribute to his legacy which, I hope, will be carried on for generations to come.
May his soul rest in eternal peace.
MARTIN A. NSUBUGA
CHIEF EXECUTIVE OFFICER, URBRA