Michael Lugemwa is FD of Deposit Protection Fund

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Dr Michael Mayanja Lugemwa has been appointed director of finance and operations at the Deposit Protection Fund (DPF) of Uganda, effective April 2024.

The fund serves as a safeguard for depositors' funds in financial institutions. Its primary function is to provide a level of insurance or protection to depositors in case the financial institutions become insolvent or are unable to return deposits.

Michael’s career stretches back to August 2008 at Stanbic Bank Uganda, where he served as a credit accounts manager before becoming a financial accounting officer. Transitioning to the public sector, Michael joined the Office of the Auditor General in August 2011 as an auditor. For the following five years, he immersed himself in auditing practices, regulatory compliance, and public financial management, stationed at the Audit House in Kampala.

In August 2016, Michael made a strategic move to the Uganda National Roads Authority (UNRA) as manager of accounts and finance. Over four years and ten months, he played a pivotal role in overseeing financial operations critical to infrastructure development, contributing significantly to Uganda's infrastructure projects and economic growth.

Michael's tenure at UNRA continued to ascend as he assumed the position of head of finance and business operations in May 2021. For one year and two months, he demonstrated exceptional leadership in financial management, navigating complex financial landscapes, and optimising operational efficiency within the organisation.

In June 2022, Michael moved to the DPF as director of internal audit, marking a new phase in his career. Over almost two years, he strengthened internal controls and risk management, enhancing depositor confidence and safeguarding financial stability within DPF. This was his last role prior to the appointment as director of finance and operations.

Michael's academic record started at Makerere University, where he graduated with a BCom (First Class Honours) in Accounting and Finance in 2008. His pursuit of knowledge led him to Robert Gordon University, where he obtained a MSc in Oil and Gas Accounting with distinction in 2014. His doctoral studies at North-West University from 2015 to 2018, culminated in a PhD in Accountancy.

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