Our sources inside Makerere University Business School (MUBS) have revealed that the institute’s long serving Principal, Professor Wasswa Balunywa last weekend said goodbye to the staff and friends at the Nakawa-based institute.
However, Prof Balunywa did not reveal his next move after MUBS but insiders have alerted us that he is set to replace Dr. Louis Kasekende as Deputy Governor of Bank of Uganda whose term expired on January 14th.
Following Kasekende’s failure to convince the President to extend his contract, he was last week forced to bid farewell to his colleagues at BoU after serving the Bank for almost 30 years. A day later, Prof Balunywa said his goodbyes to MUBS.
We have received information that a farewell party was thrown at MUBS last week to thank Balunywa for a job well done and Singer Bebe Cool, comedian Alex Muhangi were the headlining entertainers of the day.
However when we contacted Mr. Simon Peter Odoki, the MUBS Public Relations Officer, he dispelled all the rumours of Balunywa joining Bank of Uganda.
“Those are all rumours, we have not held any fare well party for anyone here at MUBS.” Odoki said.
It should be recalled that Prof. Balunywa once served on the board of directors of Bank of Uganda and it is believed that his result oriented economic policies turned MUBS from Uganda College of Commerce (UCC) Nakawa to leading business school in the Peal of Africa.
President Museveni, who met Balunywa at the end of last year has always praised Balunywa claiming that he has always been on the right side of the liberation ideology.
Background
Prof Balunywa started his career as lecturer in 1983, in the then Department of Commerce at Makerere University. In 1987, he was appointed a senior lecturer in the Department of Accounting, Banking and Finance, also at Makerere, serving there from 1987 until 1990.
He later served as Dean Faculty of Commerce, Makerere University from 1991 to 1998. In 1997, he was instrumental in the creation of Makerere University Business School (MUBS). Prof. Balunywa headed MUBS at its inception in 1997 as the school’s first Director.
In 1998, the position of Director was renamed “Principal”. In June 2018, Waswa Balunywa began another three-year term as the Principal of MUBS.
