Maria Kiwanuka appointed chair of Uganda National Mining Company Board

KAMPALA. Former Finance minister Maria Kiwanuka has been appointed acting chairperson of the Uganda National Mining Company (UNMC), following a leadership shake-up at the state-owned mining company.

Ms Kiwanuka, who is a member of the UNMC board, takes over from Mr James Mukasa Ssebugenyi, who resigned as board chairperson. The ministry also terminated the appointment of the company’s vice chairperson, Mr James Byagaba.

The changes were communicated by the Ministry of Energy and Mineral Development on September 24 in a statement signed by Energy and Mineral Development Minister Monica Musenero Masanza.

The ministry said the changes were “part of measures to address governance and management challenges affecting UNMC”.

Ms Kiwanuka’s appointment takes immediate effect. She is expected to lead efforts to strengthen corporate governance, improve board effectiveness and oversee performance management at the company.

Her appointment comes as the government seeks to increase its participation in the mining industry and secure greater economic returns from the country’s mineral resources.

The mining sector is also expected to play a significant role in the government’s Ten-Fold Growth Strategy, which seeks to expand Uganda’s economy.

Ms Kiwanuka brings experience in public finance, banking and corporate governance to the position.

She served as Minister of Finance, Planning and Economic Development from 2011 to 2015 before becoming a senior presidential adviser on financial matters.

She previously worked as an economist and financial analyst at the World Bank, where she handled projects in East Asia and Southern Africa.

Her governance experience includes serving on the boards of Stanbic Bank Uganda, Uganda Development Bank and the Uganda Communications Commission.

She has also chaired the board of the Uganda Registration Services Bureau and served on boards at Makerere University Business School and Nkumba University.

Ms Kiwanuka holds a Bachelor of Commerce degree and a Master of Business Administration.

Her appointment comes less than two years after the government inaugurated a nine-member UNMC board on November 4, 2024, to oversee the company’s interests in the mining sector.

The board members include Kevin Aanyu, Alaba Agnes, Francis Twinamatsiko, Nabasirye Kiwana, Kwatampora Alex Binego Zentaro, Wilfred Kokas Aupal and John Fisher Kanyemibwa.

The leadership changes follow reports of governance concerns at the company.

Recent reports indicated that the Ministry of Finance had ordered a governance audit amid tensions within UNMC. There were also allegations that some executive committee members had not appeared before the audit panel.

An internal memorandum dated July 1, 2026, reportedly raised concerns about the division of responsibilities between executive management, the board and its committees.

UNMC was established under the Mining and Minerals Act, 2022, and formally registered in April 2024 as a wholly government-owned company.

The Ministry of Energy and Mineral Development holds a 51 per cent stake, while the Ministry of Finance, Planning and Economic Development owns the remaining 49 per cent.

The company was created to manage the State’s commercial interests in mining agreements, including equity investments and joint ventures, and to pursue investment opportunities in the sector.

Under the Mining and Minerals Act, the government can acquire a free equity interest of up to 15 per cent in qualifying large- and medium-scale mining operations, with provision for additional paid participation.

UNMC is expected to manage such interests on behalf of the State and help ensure that the exploitation of Uganda’s mineral resources generates economic benefits for the country.