BUMBULI DEVELOPMENT CORPORATION ANNOUNCES NEW BOARD OF DIRECTORS

I am pleased to announce the formation of the new Board of Directors for Bumbuli Development Corporation (BDC). The BDC Board will provide the leadership and support in ensuring successful implementation of the vision and mission of BDC for the next three years.

The ten-member Board will be the topmost governing body of BDC. The primary responsibility of a board member is to participate in the development of strategies and major decision-making at board meetings and being active on an ongoing basis in a committee of the board.

I am proud to announce that this Board of Directors is made of a group of extraordinary individuals, drawn from different sectors and nationalities to provide BDC with the cutting edge leadership and foresight it needs to fulfill its mission.
The new Directors are:

1. Dr. Paul Armington
Dr. Armington is the President of World Institute for Leadership and Management in Africa (WILMA). He began his career as an economist working in International Monetary Fund (IMF) Research Department, where he produced influential articles on international trade and helped to found the IMF’s now-famous "World Economic Outlook" methodology and publication. 

Later, he worked at the Organisation for Economic Co-operation and Development (OECD) where he was instrumental in bringing about the international agreement known as the Smithsonian Realignment of Exchange Rates (1971). From 1975-86, Dr. Armington worked as an economist in the private sector, collaborating with the London School of Business, Ford Foundation, Forex Research Ltd., Wharton Econometric Forecasting Associates, and the World Bank.

Dr. Armington is an accomplished academic and taught at the University of Pennsylvania. He is famous for the "Armington Elasticities", now referred to and taught in graduate courses in international trade and economics.

In 1986, Dr. Armington joined the World Bank as Senior Economist. He also served as Division Chief and advisor in the International Economics Department of the World Bank, and then for three years as Principal Economist in the Africa Region’s Capacity Building Unit. In 1999, he took early retirement to devote his energies to the creation of the World Institute for Leadership and Management in Africa (WILMA), which he now serves as president Dr. Armington received his Bachelor’s degree at Swarthmore College, USA and his Ph.D in economics from the University of California, Berkeley.

2. Ambassador Juma V. Mwapachu
Ambassador Juma V. Mwapachu is former Secretary General of the East Africa Community (EAC) and a well-known and respected Tanzanian businessman, diplomat and thought-leader. Ambassador Mwapachu has held a number of senior positions in both the public and private sector of Tanzania. 

He served as Tanzania’s Ambassador to France from 2002 to 2006. He was the founding Secretary General of the Tanzania Chamber of Commerce, Industry and Agriculture in 1988, served as Chairman of the Confederation of Tanzania Industries between 1996 and 2000 and Chairman of the East African Business Council from 1999 to 2000. Throughout his working career, he has been a leading advocate of the creation of a strong and dynamic private sector in Tanzania.

Ambassador Mwapachu served as a Managing Consultant at Coopers & Lybrand Associates which is now Price Waterhouse Coopers (PWC) in the early 1980s. He has also served on a number of Presidential Commissions that consolidated Tanzania's market economy and which ushered in a multi-party political system. He was a member of the Team of Experts that crafted Tanzania's Development Vision 2025. He played a leading role in the regional integration of East Africa as Secretary General of the East African Community for five years between 2006 and 2011.

He began his career in the public sector in Tanzania as a State Attorney and later served  in the National bank of Commerce, rural development and the Foreign Office. He has been Chairman of Board of Directors of Tanzania Railways and the Tanzania Investment Bank. He has been a Non Executive Director of Exim Bank (Tanzania) Limited since December 5, 2008. 

Ambassador Mwapachu serves as a Director of The Heritage Insurance Company (T) Limited, Non Executive Director of African Barrick Gold Plc. He currently chairs the Governing Council of the University of Dodoma, a public University. Since January, 2012, he serves as President of the Society for International Development (SID).

 Ambassador Mwapachu holds a Bachelor of Laws Degree from the University of East Africa, Dar es Salaam, a Post graduate Degree in International Law from the Indian Academy of International Law, New Delhi, Doctorate degrees (Honoris Causa) in literature from the University of Dar es Salaam and political sciences from the National University of Rwanda. Kenya has decorated him with the third highest award, the Order of Moran of the Golden Heart (MGH).

3. Ms. Jill Bishop
Ms. Bishop is the Executive Director of Tanzania Education Trust Foundation and President of Tanzania based BSI Ltd., a consultancy that provides strategic advisory services to government, philanthropic and private sector entities, with an emphasis on strategic planning and visioning; partnership formation; program management; and creative problem solving in developing economies. She has over 20 years of expertise in global business development and macroeconomic policy and has worked extensively with governments and private sector firms throughout Africa on a myriad of development initiatives. With a niche expertise in developing and implementing innovative strategies in challenging environments, BSI combines practical global business development experience with inventive future-oriented solutions to enable continued growth and development of its clients. BSI is based in Dar es Salaam, Tanzania.

Ms. Bishop has assisted numerous philanthropic organizations and foreign direct investors with their engagement with Africa, as well as African governments with facilitating international market access. Most recently she served as the Program Manager for the Tanzania Beyond Tomorrow Project of behalf of the Government of Tanzania, overseeing project development and managing multiple multinational business relationships in an effort to create global partnerships for ICT use in education delivery.  She previously served as the President of GlobalXccess  where she became a patented inventor of financial services products for underserved markets. 

She has also held several management consulting positions with Deloitte & Touche Consulting where she led a variety of methodology-based consulting projects in Business Process Reengineering, Strategy, and System Integration. Ms. Bishop holds an Executive MBA from the London School of Economics and Political Science; the HEC School of Management, Paris; and the New York University Stern School of Business (TRIUM). She has an undergraduate degree in Economics and Finance from Rutgers University.

4. Mr. Betram Eyakuze
Mr. Eyakuze is a Partner and Co-founder of Serengeti Advisers Limited, a Tanzanian-based consultancy. Previously he was a private equity investment professional with CDC Capital Partners, a British company with significant investments across Africa and other developing countries. Prior to returning to Tanzania with CDC, he was a management consultant with Mitchell Madison Group in New York, where he was a member of a number of engagement teams that assisted in strategy formulation and improving the operational efficiency of large multinational companies.

 Clients included the largest U.S telecommunications provider, a global insurance group, and a leading technology-products manufacturer. His responsibilities with CDC Capital Partners in Tanzania included the detailed review and improvement of dozens of business plans across all economic sectors with a view to identifying, structuring, negotiating, and completing equity investment opportunities, typically in already-existing enterprises. Mr. Eyakuze has extensive expertise in business development, strategy formulation, and corporate finance.

He is currently involved in the development of a large-scale agro-industrial project as well as a mineral processing venture in Tanzania, and serves on the boards of a number of national businesses, including a microfinance company and a leading pharmaceutical distribution company.

Mr. Eyakuze received his B.A.S in Civil Engineering and Economics from Stanford University and his M.B.A from Yale University School of Management.

5. Mr. Edward V.K. Jaycox
Mr. Jaycox is a retired Managing Director of Emerging Markets Partnership (EMP) and the CEO of the US$ 400 million AIG African Infrastructure Fund which he, and others, founded in 1999. Prior to joining EMP, Mr. Jaycox served as Vice President of the World Bank in charge of the Bank's operations in Sub-Saharan Africa from 1984 to 1996. During this period, he managed the design and negotiation of structural adjustment programs in over thirty African countries and approved over US$30 billion in loans and credits to support economic policy reform and projects in all of the major sectors.

Mr. Jaycox is deeply familiar with Africa's economic environment and history and intricacies of market reforms in the continent. Earlier, Mr. Jaycox directed the World Bank's programs in East Asia and led the team that brought China into the World Bank. He also managed the first structural adjustment programs supported by the World Bank in Thailand and South Korea.

 For over 15 years of his more than 30 years with the World Bank, he appraised projects and managed technical teams, divisions and departments working in the infrastructure sectors including roads, ports, airports, pipelines, railways, waterways, and urban infrastructure, such as water, electricity, expressways, rapid transit and housing.

Mr. Jaycox has an A.B. degree from Yale College and an M.A. degree from Columbia University School of International Affairs and Certificate in African Studies from its African Institute.

6. Mr. January Y. Makamba
Mr. Makamba is the founder-director of Bumbuli Development Corporation and current Member of Parliament for Bumbuli constituency and the Deputy Minister for Communication Science and technology in the government of Tanzania. Before his appointment as a Deputy Minister, he served as a Chairman of a Parliamentary Standing Committee on Energy and Minerals and Deputy Chairman of the Board of Director of the Tea Board of Tanzania. 

Before being elected as a Bumbuli Constituency representative in the Tanzanian parliament, Mr. Makamba was working at the country’s highest office as a senior Aide to Tanzanian President Jakaya Kikwete for 5 years from 2005-2010. Mr. Makamba started government service as a civil servant where he worked as Foreign Service Officer at the Ministry of Foreign Affairs and International Cooperation.

Mr. Makamba attended St. Johns University in Minnesota, USA, where he obtained a degree in Peace and Conflict Studies after which he joined the Jimmy Carter Presidential Center, in Atlanta, Georgia, as Research Assistant where he also spent some time in Sierra Leone. 

He was later enrolled for a Master of Science degree in Conflict Analysis and Resolution at George Mason University in Virginia after the completion of his assignment at the Carter Center. Mr. Makamba has also worked in humanitarian assistance operations as Assistant Camp Manager in the Burundian refugee camps in Kigoma, Tanzania, overseeing the welfare of 120,000 Burundi refugees.

7. Dr. Najim Msenga
Dr.  Najim is a native and resident of Bumbuli and one of the most successful entrepreneurs in Bumbuli township. Born and raised in Bumbuli, he has invested in trading, transport and housing in Bumbuli and gemstones business across Tanzania. He is the Executive Director of Najim and Company Ltd, and Kimmse Investment Ltd.

In 1993 he was awarded the honorarium title of Doctorate after discovering the Green Sapphires in Tanga, Tanzania.

8. Bishop Dr. Stephen Munga
Bishop Munga is a Lushoto-based Bishop of the Evangelical Lutheran Church in Tanzania for the Northern-Eastern Diocese. Bishop Dr. Munga is on a number of committees of the Evangelical Lutheran Council in Tanzania (ELCT) since 2001 when he was elected the Bishop of ELCT North Eastern Diocese. 

Bishop Dr. Munga .was the first Chairperson of Sebastian Kolowa University College and now is the Chancellor of Sebastian Kolowa Memorial University; is the Chairperson of The Lutheran Mission Corporation; Policy, Finance and Planning Committee of the Christian Council of Tanzania.

Bishop Dr. Munga is a recognised leader in community development in Lushoto. He has been an ardent advocate for environmental protection and sustainable livelihood in the Usambara Mountains. He is also a national leader and activist for the sound management and governance of Tanzania's natural resources, serving in the national committee of the Extractive Industries Transparency Initiative. He also chaired the Interfaith Standing Committee on Economic Justice and the Integrity of Creation.

Bishop Munga obtained his Doctorate of Theology from the University of Lund, Sweden.

9. Ms. Grace C. Rubambey

Ms. Grace Rubambey is a rural and microfinance expert and former director of the Bank of Tanzania.  She holds a BBA (Economics) and a MA (Economics) degrees from Kent State University, Kent, Ohio, USA. Ms. Rubambey has more than 35 years experience in financial issues, policy formulation, program coordination, institution building, and training. 

She worked at the Bank of Tanzania for more than 28 years, 24 of which were in various management positions, including Manager Economic Research and Statistics, Director of Rural Finance, Director of Financial Markets and Director of Microfinance. While seconded from the Bank of Tanzania, she also served as the first non-FAO Secretary General of the Nairobi-based Africa Rural and Agricultural Credit Association (AFRACA) for five years from 1984 to 1989. 

In recognition of her work at AFRACA and her personal commitment in the development of rural and microfinance in Africa, in 2006, the Government of Burkina Faso awarded her Knighthood of the National Order (Chevalier de L’ordre National).

Ms. Rubambey, a staunch advocate of rural/microfinance and inclusive financial services in general, has been credited for spearheading the development of rural and microfinance in Tanzania, in particular the Bank of Tanzania’s critical intervention in the sector at a time when the subject was little known in the country and the region as a whole. 

She established the Directorate of Micro-finance at the Bank of Tanzania and headed it for more than seven, until her retirement. She led the national team that drafted the Tanzania’s National Microfinance Policy, a policy that was internationally acknowledged as one of the best in the industry. She also led the national Task Force that drafted the regulatory, legal and supervisory framework for micro-finance in Tanzania.

Ms. Rubambey has served on a number of boards and policy development committees, including the Financial Sector Deepening Trust (FSDT) Tanzania National Economic Empowerment Council and the Advisory Board to the President’s Empowerment Fund.

10. Prof. Andrew Temu
Prof. Andrew Temu is an Associate Professor at the Department of Agricultural Economics and Agri-business, Sokoine University of Agriculture in Morogoro, Tanzania. Prof. Temu has in the past undertaken Visiting and Research Fellowships at the University of Illinois, Urbana Champaign-USA and the International Food Policy Research Institute, Washington DC, USA. He has also managed the SADC Food Security Training Programme  in the 14 member countries.

Prof. Temu has extensive knowledge of agri-business projects appraisal and agricultural finance, privatisation, divestiture of agricultural parastatals and private sector development, and in designing, analysing and evaluating agricultural policies and strategies.  

He has participated actively in the development of the Agriculture Sector Development Strategy and the Agriculture Sector Development Programme for Tanzania.

Prof. Temu has researched, published and offered consultancy services in a wide range of areas related to agricultural production, marketing, trade and rural development.

 He is also the Chairman of the Board of Trustees of the Private Agricultural Sector Support (PASS) Trust. He is a board member in a number of organizations, including the African Guarantee Fund Ltd; Tanzania Investment Center; the Southern Agriculture Growth Corridor of Tanzania (SAGCOT); the Economic and Research Foundation. He has in the past also served as a Board member of The CRDB Bank and its subsidiary pursuing Microfinance Services. He is a Founder Chairman of Diligent Consulting Ltd, a private Tanzanian consulting firm.

Prof. Temu has a BSc in Agriculture from the Sokoine University of Agriculture in Morogoro, Tanzania, an MSc. in Agricultural Economics from Reading University in UK, and a PhD in Agricultural Economics from the London University in UK.

I am grateful to all these individuals for agreeing to serve in the Board, and therefore take part in the advancement of the welfare of the people of Bumbuli and Tanzania in general.  The cumulation of members' vast experiences, many accomplishments and diverse backgrounds makes this a formidable team. This is a clear statement on our part at BDC that we intend to create a world-class organisation aiming for excellence and governed by the highest ethical standards. Today, with the appointment of this board, we have taken one more step towards the realisation of the dream and the promise of transformation of Bumbuli.

January Makamba (MP)

Bumbuli Constituency

6 September 2012

About BDC

BDC was established in November 2010 as a development for-profit but not for dividend company with a mission to promote private, social and public investments with positive economic and social transformation of the people of Bumbuli Constituency, Lushoto District and beyond. The core of BDC’s mission is to catalyse private enterprise in Bumbuli, by attracting domestic and foreign investments into the region, facilitating and coordinating technical assistance and technology transfer, and building strong collaborative links with the local, district and central governments.

BDC is envisaged to initiate, attract, promote, coordinate and monitor the activities that would both enhance the existing private, public and donor programs as well as develop specific programs for economic growth and social wellbeing of the people of Bumbuli. Currently, BDC invests in and carry out specific and carefully chosen projects with maximum social impact. More information about Bumbuli and BDC can be found in the book Bumbuli – Yesterday, Today and Tomorrow, which is available at www.januarymakamba.com.