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Document: Bank of Uganda Deputy Governor Louis Kasekende’s Wealth Exposed

Louis Kasekende

An investigation by the Inspector General of Government (IGG) has revealed how rich the Bank of Uganda (BoU) Deputy Governor Dr Louis Kasekende is and how he acquired his money.

 

According to the Declaration of Income, Assets and Liabilities Form Kasekende submitted to IGG Irene Mulyagonja in line with Leadership Code Act 2002, Kasekende is a multi-billionaire.

IGG Mulyagonja has forced at least 10 BoU officials to declare their wealth to the inspectorate.

The officials under probe also Governor Emmanuel Tumusiime Mutebile.

A previous probe into the wealth of former BoU director for supervision Justine Bagyenda pointed to even huger theft of public resources.

Louis Kasekende Wealth: Here is How Much the Deputy Governor BoU Owns

 

According to his wealth declaration form, Louis owns and earns as follows:

  • Monthly Salary: Shs 45m
  • Monthly allowance: Shs 13m

Assets

  • Plot 3 Gaba Close valued at Shs 2.1bn
  • Plot 1475, Lubowa Estate, Wakiso valued at Shs 2bn
  • Plot 12 Corporation Road, Ntinda valued at Shs 390m
  • Plot 2 Bukoto Rise, Naguru valued at Shs 1.3bn
  • Plot 2B Makindo Lane, Kololo valued at Shs 2bn
  • Plot 706 Block Buloba, valued at Shs 500m
  • Total Value of commercial houses: Shs 7.69 bn.
  • Monthly rent collected from commercial houses: Shs 50m

Louis Kasekende Vehicles

  • Mercedes ML350
  • Mercedes S320
  • Hilux

Source of Louis Kasekende Wealth: How Deputy Governor BoU Made His Money

Kasekende says he amassed all this wealth through the following ways:

  • gratuity payments from BoU, AfDB and World Bank
  • loans from banks, including DFCU, Standard Chartered Bank
  • Savings on research grants
  • Savings on travel
The Banks in which Louis Kasekende Keeps His Money

Standard Chartered Bank: A shilling current account co-owned with wife Edith Kasekende; a current dollar account also co-held with his wife; and a current dollar account co-owned with his son Andrew Kasekende.

Barclays Bank: Two bank accounts

Stanbic bank: One account

Bank-Fund Staff Federal Credit Union in Washington

 

Louis Kasekende Profile: Who is This Wealthy BoU Deputy Governor

Date of Birth: August 26, 1958

Wife: Edith Kasekende

Education

 Bachelor of Arts in Economics from Makerere University

 Master of Arts from the University of Manchester in the United Kingdom

Doctor of Philosophy (PhD) in Economics from the University of Manchester in the United Kingdom

Work

1988-1994: Part-time lecturer at Makerere University

1986: Bank of Uganda

Positions held at Bank of Uganda: Director of Research, Executive Director of Research and Policy and Deputy Governor.

2002-2004, Kasekende: Executive Director to the World Bank

2006-2009: African Development Bank (AfDB), in Tunisia

2010 to date: Deputy Governor BoU.

 Wealth Declaration Form Showing Louis Kasekende’s Wealth

Louis Kasekende's wealth declaration form1
Louis Kasekende’s wealth declaration form 1
Wealth Declaration Form Showing Louis Kasekende's Wealth 2
Wealth Declaration Form Showing Louis Kasekende’s Wealth 2
Wealth Declaration Form Showing Louis Kasekende's Wealth 3
Wealth Declaration Form Showing Louis Kasekende’s Wealth 3

Additional Reporting: Courtesy

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