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For more than a decade, Uganda’s energy sector—under the political stewardship of Ruth Nankabirwa Ssentamu since 2021—has ranked among the government’s top priority sectors, consistently absorbing trillions of shillings in taxpayer funding and, in several budget cycles, commanding well over 5% of the national budget. Anchored on mega hydroelectric projects, oil and gas development, and ambitious transmission and distribution expansion, the sector has been positioned as a cornerstone of industrialisation and long-term economic transformation. Yet the latest Auditor General’s Annual Report to Parliament for the year ended June 2025 reveals a sector struggling to convert scale into performance. The report…
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The Board of Directors of the Uganda Electricity Transmission Company Limited (UETCL) has confirmed Eng. Richard Matsiko as the company’s substantive Chief Executive Officer, replacing Mr. Joshua Karamagi, who resigned from the position last year. In a statement released on Friday, UETCL announced that Eng. Matsiko’s appointment follows his recent service as Acting Chief Executive Officer, during which he provided strategic leadership and oversight of the national power transmission utility. Eng. Matsiko is a seasoned professional in the electricity supply industry with more than three decades of experience. He began his career at the Uganda Electricity Board (UEB) on March…
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Emmanuel Mugagga is the Chief Financial Officer of the Uganda National Oil Company (UNOC) and Winner of the Strategy Execution Award at the 9th edition of the Chief Financial Officer Awards 2025– an initiative of ACCA Uganda and Deloitte Uganda. At UNOC, an institution entrusted with managing Uganda’s commercial interests across the petroleum value chain, Mugagga sits at the intersection of a sector where decisions span decades, capital runs into billions, and outcomes shape national destiny and strategy is only as powerful as its execution. In this conversation with CEO East Africa’s Paul Murungi, Mugagga reflects on his journey into…
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In Uganda’s Tilenga oil fields, where the low rumble of drilling rigs never stops, every passing hour of operation carries a price tag measured in tens of thousands of dollars. According to official briefings and technical presentations from the Petroleum Authority of Uganda (PAU), the average daily cost to drill a single oil costs $140,000 (UGX 506 million) in the Tilenga project run by TotalEnergies. However, for an industry often defined by staggering figures, a PAU official notes that this figure stands out among the lowest drilling-day rates in the world; other oil wells across the world cost as much as…
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As one drives into Hoima City, the urban heart of Uganda’s oil dreams, it quickly becomes clear that this is no ordinary town. The city has become a magnet for…
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