Bank of Uganda Deputy Governor Calls Out Lack of Integrity as Key Barrier to National Growth

The Deputy Governor of the Bank of Uganda, Prof Augustus Nuwagaba, has pointed to a profound shortage of integrity as a primary obstacle hindering Uganda’s socio-economic transformation. Speaking at the 22nd graduation ceremony of Bishop Stuart University in Mbarara City, he highlighted the growing contradiction of having individuals with private interests holding public offices.

According to Prof Nuwagaba, the current societal landscape struggles with trust and integrity, which ultimately prevents meaningful value addition, unity, and patriotism. He challenged higher education institutions to look beyond merely imparting technical skills, urging educators to prioritize character development and value shaping in students.

He emphasized that society does not benefit from professionals such as doctors, accountants, or engineers who lack fundamental care, manipulate financial records, or mismanage resources. Furthermore, he criticized individuals who undermine the national economy through negative publicity abroad, noting that such actions damage export markets for key Ugandan goods like dairy and coffee, thereby limiting employment opportunities.

Addressing the graduands, Prof Nuwagaba reminded them that acquiring a degree is merely an achievement, whereas true success will be measured by their integrity and positive community impact over the coming years. Meanwhile, university leaders including Chancellor Rt Rev Sheldon Mwesigwa and Vice Chancellor Prof John Mugisha underscored the institution’s commitment to impactful research and practical, character-driven education.

For more details on this story, read the original report on Daily Monitor.