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.
Machael’s career started back in 2008 at Stanbic Bank Uganda, where he served as a credit accounts manager before becoming a financial accounting officer. He moved to the public sector when he joined Office of the Auditor General in August 2011 as an auditor.
In 2016, Michael moved to the Uganda National Roads Authority (UNRA) as manager of accounts and finance. He played a pivotal role in overseeing financial operations critical to infrastructure development, contributing significantly to Uganda’s infrastructure projects and economic growth.
Mayanja Lugemwa’s tenure at UNRA continued to ascend as he assumed the position of head of finance and business operations in May 2021. He demonstrated exceptional leadership in financial management, navigating complex financial landscapes, and optimizing operational efficiency within the organization.
Machael moved to the DPF in 2022 as Director of Internal audit, making a new phase in his career. He strengthened internal controls and risk management, enhancing depositor confidence and safeguarding financial stability within DPF.
He graduated with a BCom (First Class Honours) in Accounting and Finance at Makerere University in 2008, a MSc in Oil and Gas Accounting with distinction at Robert Gordon University in 2014. From 2015 – 2018, he studied his doctorate at North-West University, culminated in a PhD in Accountancy.