Former Finance minister Maria Kiwanuka has been appointed acting chairperson of the Uganda National Mining Company (UNMC). The leadership shake-up at the state-owned mining company was announced by the ministry of Energy and Mineral Development on September 24, 2026. Kiwanuka, a member of the UNMC board, takes over after the resignation of board chairperson James Mukasa Ssebugenyi and the termination of vice chairperson James Byagaba’s appointment.
The changes aim to address governance and management challenges affecting UNMC, according to the ministry. Kiwanuka is expected to lead the board in strengthening corporate governance and overseeing a recovery programme focused on board effectiveness and performance management. Her appointment comes as government seeks to increase state participation in the mining sector and secure greater economic returns from Uganda’s mineral resources.
UNMC manages the state’s commercial interests and participating interests in the mining and minerals sector. The company is wholly owned by government, with the ministry of Energy and Mineral Development holding a 51 per cent stake and the ministry of Finance, Planning and Economic Development holding 49 per cent. Kiwanuka served as minister of Finance, Planning and Economic Development from 2011 to 2015.
Kiwanuka has extensive experience as an economist and financial analyst at the World Bank, where she worked on projects in East Asia and Southern Africa. She has also held several corporate and public-sector board positions, including director of Stanbic Bank Uganda from 2008 to 2011. Additionally, she has held leadership responsibilities at the Uganda Registration Services Bureau and served on the boards of the Uganda Development Bank and Uganda Communications Commission.
The leadership changes come less than two years after government inaugurated the nine-member UNMC board to oversee the company’s interests in the mining sector. The board members include Kevin Aanyu, Agenes Alaba, Francis Twinamatsiko, Nabasirye Kiwana, Kwatampora Alex Binego Zentaro, Wilfred Kokas Aupal and John Fisher Kanyemibwa. Recent reports indicated that the ministry of Finance had ordered a governance audit amid tensions within the company.
An internal memorandum dated July 1, 2026, reportedly raised concerns about the division of responsibilities among executive management, the board and its committees. Some members of the executive committee had failed to appear before the audit panel, according to the reports. The changes place Kiwanuka at the helm of the board as UNMC seeks to strengthen its governance and improve its performance.
UNMC was established under the Mining and Minerals Act, 2022, and incorporated in April 2024 as a limited liability company wholly owned by the Ugandan government. Its mandate is to manage the state’s commercial holdings and participating interests in the mining and minerals industry. The company is expected to participate in joint ventures, undertake new mining ventures and manage state equity participation in the sector.
Key points
- Maria Kiwanuka appointed acting chairperson of Uganda National Mining Company
- Kiwanuka aims to strengthen corporate governance and oversee recovery programme
- UNMC seeks to increase state participation in mining sector and maximise economic value of Uganda’s mineral resources
