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PROFILE: Twinemanzi, Uganda’s New Banking Supervision Boss

Prior to his appointment as Executive Director-Supervision at Bank of Uganda (BoU), Dr. Tumubweine Twinemanzi was a little known fellow.  Prof. Emmanuel Tumusiime-Mutebile appointed Twinemanzi to succeed Justine Bagyenda better known as the Iron Lady at BoU and banking industry at large on February 7, 2018. The appointment took immediate effect.

Bagyenda, who has been at BoU for the last 36 years, was due to retire in June this year before her unceremonious send-off.

While many expected a senior BoU staff to replace Bagyenda, Mutebile opted for an outsider-perhaps to bring new ideas in Uganda’s banking sector and avoid the ‘old guard’ doing things the same way.

So who’s Twinemanzi, the man who will be watched closely together with his boss Mutebile regarding the performance of Uganda’s banking sector?

Prior to his appointment as Bagyenda successor, Dr. Twinemanzi was Director Industry Affairs and Content (Economic Affairs) at Uganda Communications Commission (UCC). His earlier experience is yet to be established, but we can confirm he has been involved in private business.

Sources say he has over 15 years of experience in middle and senior management.

Information about him is scanty-possibly explaining why many Ugandans on social media wondered who he was to deserve such an important position. But worry not; Business Focus brings you important facts about Dr. Twinemanzi.

Well Schooled

Born in Kabale district, Twinemanzi comes from a well educated and rich family.  He is a son of former State Minister of Privatization Ephraim Manzi Tumubweine, who is also a former Rukiga County MP.

Dr. Twinemanzi is a highly educated and exposed guy; he holds Master of Science from the University of Texas at Dallas (USA).

He has also attended courses at the Barcelona Graduate School of Economics (Spain) and at the Public Utility Regulation Centre at the University of Florida in Gainesville (USA). He is also a founder member of the Academy of Regulatory Professionals at the University of Florida in Gainesville.

“He is well connected and knows Uganda’s banking sector very well. He is fit for the job,” a source, who knows him well and spoke on condition of anonymity, said.

According to credible sources, Dr Twinemanzi has interests in money lending business and likes playing golf during his leisure time.

Unknown to many people, Dr. Tumubweine is a half Mukiga given the fact that his mother (Christine Nyarubona) is a Munyoro.

It is also important to note that Dr. Tumubweine is following in the footsteps of his father who worked at Bank of Uganda in 1970s.

Tumubweine Senior is the current Chairman of the National Lotteries Board and was the first chairperson of the University Council of Kabale University.

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Taddewo William Senyonyi
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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