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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Uganda’s oil ambitions face a critical stress test at the Kasuruban oil block. By handing it to Uganda National Oil Company (UNOC), government signaled that national control must sit at…
Mathias Katamba is the Board Chairman of UNOC. He is a Governance, Leadership and Strategy Consultant, as well as an Executive Coach with over 25 years of high-level corporate experience. He is the Founder and Team Leader at MAKLEAD, a consulting and business advisory firm and currently serves on several Boards in multiple sectors. He is also an accomplished Banker and has previously served as Chief Executive of 3 commercial Banks (Finance Trust Bank, Housing Finance Bank and dfcu Bank) in addition to co-founding Progression Capital Africa, an East African Financial Inclusion Private Equity Fund. He has in addition previously…
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Peter Muliisa is a key figure at UNOC, a government-owned entity tasked with managing the State’s commercial interests in Uganda’s growing petroleum sector. As one of the initial three employees of UNOC, Muliisa played a pivotal role in its establishment, focusing on corporate governance structures and shaping the company culture. Under his leadership, UNOC has successfully implemented robust governance measures, consistently receives unqualified audits, and maintains a strong record of compliance. In his role spearheading Corporate Affairs and Stakeholder Engagement, Muliisa has significantly boosted UNOC’s brand visibility and awareness. He has played a crucial role in protecting the company’s image…
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The Uganda Electricity Transmission Company (UETCL) has been ranked as the most profitable public company with a profit of UGX 82.3 billion earned through energy sales in the Financial Year (FY) ending June, 2024. UETCL was closely followed by Uganda Electricity Generation Company (UEGCL) at 54.2 billion and Uganda Civil Aviation Authority at UGX 32 billion. The three top public corporations raked in a combined UGX 168 billion in annual profits outperforming other 17 sister corporations and state enterprises, according to details from the latest Auditor General’s report. However, UETCL’s profitability decreased by 13 percent from UGX 94 billion in…
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On Friday, November 15, 2024, Uganda took a significant step toward addressing climate change by launching its Alliance for Climate Forestry Compensation Strategy during the ongoing UN Climate Summit (COP29) in Baku. The initiative is part of the Alliance for Climate Resilience (ACR), which aims to unite stakeholders in promoting sustainable energy generation and utilization while addressing the country’s unique challenges in energy access, affordability, and security. The Forestry Compensation Strategy is designed to guide Uganda in developing projects that generate carbon credits to offset greenhouse gas emissions from the energy sector, especially emissions related to the country’s oil and…
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Stanbic Bank Uganda, Uganda’s largest bank and a subsidiary of the Standard Bank Group, Africa’s largest banking group has said that it is still doing its own due diligence on financing of the East African Crude Oil Pipeline (EACOP). However, the bank added that it is as committed to strict adherence to global standards on environment and social safety, as it is committed to a just energy transition. Responding to a question during the just-ended presentation of the bank’s 2023 financial performance, held at the Kampala Serena Hotel on March 25, 2024, Paul Muganwa, the Head of Corporate and Investment…
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2024 will be a defining year for Uganda’s oil sector with several investment deals to be inked as the oil project nears its first oil in 2025. Noteworthy is that…
Equity Bank Uganda and the Uganda National Oil Company (UNOC) have signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of financing and enterprise development specifically for MSMEs, clean energy use and environmental conservation sectors. Also, financing will be supplied in support of farmers, education and training for young people and more affordable and accessible health systems for all. Speaking during the signing ceremony which took place at the Kampala Serena Hotel during the 8th Annual Oil and Gas Convention, Equity Group Holdings Plc Group Managing Director, and CEO Dr. James Mwangi,…
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Uganda National Oil Company Chief Executive Officer Proscovia Nabbanja has been named among oil and gas heavy weights on the continent to watch in 2022. The African Energy Chamber recently announced the launch of the highly anticipated ‘State of African Energy 2022’ outlook. Comprising an outline for Africa’s energy sector, the report provides reliable and actional information on Africa’s energy industry, emphasizing challenges and opportunities, and paving the way for an influx of investment in the continent’s lucrative energy sector. In a bid to promote the role of African players in driving energy sector growth and success, the 2022 outlook…
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