The Deputy Speaker of Parliament, Thomas Tayebwa, has applauded the move by Bank of Uganda (BOU) officials to reject a non-Ugandan as the Chief Executive Officer (CEO) for Stanbic Bank, saying that it is about time Uganda joined nations like Kenya and South Africa in ring fencing such lucrative positions for their own nationals.

According to Tayebwa, there is no reason to appoint a non-Ugandan as CEO of Stanbic Bank since it has performed very well in the previous years under the hands of Ugandans.

“You should ask yourself why they are bringing in a foreigner to a bank to which we have entrusted our biggest assets and most of our money. If Ugandans were performing badly, we would have an issue, but they were not,” Tayebwa said.

Tayebwa made these remarks on April 2, 2024, after Paul Omara, the Member of Parliament for Otuke County, requested the house to support the decision by BOU, requiring Stanbic to hire a Ugandan as the CEO.

The Deputy Speaker added that there are no foreigners who can go to Kenya and become the managing director of a bank.

“In South Africa, where Stanbic originates from, there is no foreigner managing the bank, so why Uganda?” Tayebwa questioned.

Omara said that, instead of having such a lucrative position going to a foreigner, Ugandans with qualifications should take up the job.

“Normally, foreign nationals are recruited if there are no nationals in that particular country, but we have qualified Ugandans for this position,” Omara said.

Omara requested that the house associate themselves with the position taken by the central bank, advising them to explore opportunities for Ugandan human resources to run Stanbic Bank.