Museveni Nominates Josephine Okui Okwakol To Return To BoU Board

Ossiya faces parliament’s committee on appointments chaired by Deputy Speaker, Thomas Tayebwa

President Yoweri Museveni has nominated experienced accountant Josephine Okui Okwakol Ossiya, to return to the Board of the Bank of Uganda, BOU.

Okui appeared before the Appointments Committee of Parliament yesterday.

“I chaired Parliament’s Committee on Appointments to vet the Presidential nominee for the Bank of Uganda board, Ms. Josephine Okui Ossiya, this morning. The Committee will communicate it’s decision to the appointing authority,” Tayebwa tweeted. Ossiya, a Certified Public Accountant is one of the seven members of the Board of Directors of BOU, and chairs the Strategy and Finance Committee of the Board (SFCB) and sits on the Audit and Governance Committee.

This strategic and finance committee “ensures that the financial resources of the Bank are appropriately deployed to meet BOU’s strategic priorities. It also provides oversight of risk and IT governance.

If approved by Parliament, Ossiya will become chairperson of the board, deputized by Dr Atingi-Ego.

She will also be the institution’s Chief Executive Officer because, Article 161 [2] of the 1995 Constitution, “vests the authority of Bank of Uganda in the Board of Directors, which also has the ultimate responsibility for the management, general affairs, direction, performance and long- term success of the Bank.”Ossiya was appointed to the board by President Museveni in 2018 replacing the late Ibrahim Kabanda.

She is a Fellow of the Association of Chartered Certified Accountants UK, and a member of the Institute of Internal Auditors Inc. US and member Institute of Certified Public Accountants of Uganda, ICPAU.

She also holds a Master’s Degree in Business Administration (International Business). She was appointed a member of the new Governing Council of ICPAU last month.

Ossiya also sits on the board of Britam Holdings Ltd, an insurance solutions company, and has also worked as Chief Finance Officer at Bujagali Energy Ltd.

She has an experience of more than 20 years as a practicing accountant, working as a partner at Rona & Partners Certified Public Accountants in areas of finance, audit, treasury management, risk management, general management, and board governance.

-URN