Energy, Oil & GasThe Big Story

BREAKING NEWS: UETCL CEO Joshua Karamagi Resigns, Eng. Richard Matsiko Appointed Acting CEO As Karamagi exits UETCL, stakeholders and the public will now watch closely to see how Eng. Matsiko steers the company in the interim, and whether the veteran engineer will be confirmed for the role permanently.

Official UETCL company memo announcing the resignation of CEO Joshua Karamagi and appointment of Eng. Richard Matsiko as Acting CEO, dated July 25, 2025, signed by Board Chairman Kwame Ejalu.
UETCL Chief Executive Officer, Mr. Joshua Karamagi (L), has resigned. Board appoints Eng. Richard Matsiko (R) as Acting CEO.

In a surprise executive shake-up, Uganda Electricity Transmission Company Limited (UETCL) has announced the resignation of its Chief Executive Officer, Mr. Joshua Karamagi, CFA. The Board of Directors accepted his resignation and has immediately appointed veteran power sector engineer, Richard Matsiko as Acting CEO. Karamagi’s exit marks the end of a pivotal chapter for UETCL, the country’s state-owned electricity transmission backbone. Karamagi presided over transformative infrastructure projects including the Gulu–Agago 132kV and Kole–Gulu–Nebbi–Arua 132kV lines — developments that have significantly expanded grid access in Uganda’s underserved regions. He also championed the company’s five-year corporate strategy, cementing UETCL’s role in Uganda’s…

This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!

Tagged:
About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

beylikdüzü escort beylikdüzü escort