Dr. Justin Nsengiyumva

Dr. Justin Nsengiyumva, the Deputy Governor of the National Bank of Rwanda, is a highly accomplished Rwandan-British economist and a dynamic leader, with vast experience across both Rwanda and the United Kingdom. A results-oriented and solution-driven professional, Dr. Justin is committed to driving sustainable economic development, ensuring financial stability and inclusion, and promoting transparent fiscal and monetary policies. His leadership is defined by his strategic vision, collaborative approach, and ability to engage diverse stakeholders in the pursuit of shared goals.
Dr. Justin brings to the National Bank of Rwanda a wealth of experience in economic regulation, public policy, and institutional governance. His career has been characterized by his ability to lead complex, multi-stakeholder projects, navigating both governmental and private sector dynamics.
Prior to his appointment at the National Bank of Rwanda, Dr. Justin served as Senior Economist at the UK Government's Office of Rail and Road (ORR) within the Department for Transport. In this role, he led key policy and research initiatives that shaped the UK’s railway sector. Notably, he spearheaded cost benchmarking for Network Rail (the UK railways infrastructure manager), resulting in valuable insights that informed ORR’s decisions on Network Rail’s efficiency targets. Dr. Justin also drove policy development around railway access charges and led ORR’s engagement with European regulators, representing the organization in international forums such as the Independent Regulators Group.
Additionally, Dr. Justin served as an economist at the Department for Work and Pensions in the UK Government, where he was involved in the formulation and implementation of a reform that consolidated all welfare benefits into one, streamlining the welfare system for greater efficiency.
Before moving to the UK, Dr Justin served as Permanent Secretary in the Ministry of Trade and Industry (MINICOM), where he led Rwanda’s trade negotiations at the World Trade Organization (WTO) and within other regional economic blocs such as COMESA, EAC, ICGLR, and EPA. He was also a member of the Rwanda Regional Integration Committee, a Cabinet-appointed high-level committee, which spearheaded Rwanda’s strategic decisions on its participation in various regional blocs, significantly shaping the country's regional integration efforts.
Dr. Justin also served as Permanent Secretary in the Ministry of Education, where he led the development of innovative policies and worked collaboratively with key stakeholders to lay the groundwork for the successful implementation of the country’s decision to transition from English to French as the language of instruction in schools.
Dr. Justin holds a PhD in Economics from the University of Leicester, UK, where his doctoral research focused on “The Impact of Government Ownership of Banks, Foreign Capital Inflows, and Institutions on Financial Development.” He also holds a First-Class Master’s Degree in Economic Policy and Management from the University of Nairobi, Kenya, and a First-Class BCom degree from the Catholic University of Eastern Africa (CUEA), Kenya.
Dr Justin has served as editor of several academic journals further demonstrating his commitment to advancing knowledge in the field of economics.
His leadership extends beyond civil service and academia, as he has held governance roles on various boards, including serving as a school governor and national trustee for UK charities, and as a member of the boards of RwandAir Express, Rwanda Revenue Authority, and RIEPA, among others. In these roles, Dr. Justin has demonstrated his ability to provide strategic direction, particularly in financial and regulatory matters, while ensuring stakeholder engagement and fostering a culture of transparency and accountability.