The Uganda Electricity Transmission Company Limited (UETCL) has appointed Eng. Richard Matsiko as Acting Chief Executive Officer, following the resignation of Mr. Joshua Karamagi, CFA. The appointment takes immediate effect.
The decision was made during a Board of Directors meeting held on Thursday, July 24, 2025. The Board expressed its gratitude to Mr. Karamagi for his service and acknowledged his leadership during a critical phase in the company’s growth.
Mr. Karamagi, who took over as CEO in 2021, brought over two decades of experience in the energy and finance sectors. Under his leadership, UETCL implemented major infrastructure upgrades, improved its financial stability, and expanded Uganda’s power transmission grid in line with the national Vision 2040 goals.
Before joining UETCL, he held senior roles at Umeme and the Electricity Regulatory Authority (ERA), where he played a significant role in sectoral reforms and advancing private sector participation in Uganda’s energy industry.
In a statement, UETCL Board Chairman Kwame Ejalou commended Karamagi’s contributions:
“On behalf of the Board of Directors, I would like to thank Mr. Joshua Karamagi, CFA, for his significant contribution to UETCL. We appreciate his commitment and visionary leadership.”
He also welcomed Eng. Matsiko to his new role:
“Please join the Board in congratulating Eng. Matsiko and wishing him success in this important assignment.”
Eng. Matsiko assumes leadership at a time when UETCL is focused on enhancing grid reliability, integrating new generation plants, and advancing regional interconnection projects under the East African Power Pool.
As Uganda’s national bulk electricity transmitter, UETCL plays a central role in the country’s energy development—supporting economic growth through robust infrastructure and regional power cooperation.
