Tusuubira appointed UMRA executive director

Edith Namugga Tusuubira has been appointed the substantive executive director of the Uganda Microfinance Regulatory Authority (UMRA).

Tusuubira replaces Elly Avu Biliku, who has been acting as UMRA's executive director since 2017.

Biliku was seconded from the finance ministry to kick start the establishment of the Authority in 2017. He has now been transferred to the trade ministry as an assistant commissioner.

UMRA board chairperson Jacqueline Mbabazi told New Vision that during the job interviews, they found Tusuubira exceptional for the position.

"We found her excellent, brilliant and very intelligent," noted Mbabazi. "She impressed us and that is why we gave the job."

The board also appointed Andrew James Nyakoojo as the director of supervision and Peter Emong Ojulang as the director of finance and administration.

Mbabazi noted that the recruitment of Tusuubira and the directors means that the top management of the Authority is now fully constituted.

Who is Tusuubira?

She possesses over 20 years of experience in the field of financial/investment/risk analysis and project management, 15 years of which she was in senior management responsibilities. This experience enriches Edith's successful track record of leadership on teams.

She most recently worked as country manager of Oikocredit an international financial investment organization for 13 years where she was at the helm of all country operations, and initiatives.

She also managed the credit, equity, guarantee and capacity-building partnerships among other things.

Tusuubira's plans for UMRA

Tusuubira said that in the next 10 years, she pictures the Authority as a well-regulated microfinance sector with information that is reliable and dependable.

She also envisions curtailing fraud in the sector, by using a system that identifies clients with a number which is well known and where the various financial systems can track transactions connected with UMRA as a regulator.

"There will be no informal contracts; all contracts shall be in writing, allowing the financial sector to manage information in a better way but also helping to ensure it is well connected and regulated," she said.

UMRA seeks to promote a sound and sustainable no-bank institution's sector and credit cooperatives, village saving and loan associations, non-deposit taking microfinance institutions and moneylenders to enhance financial inclusion, financial stability.