KAMPALA.
Engineer Richard Matsiko has taken over as acting Chief Executive Officer of Uganda Electricity Transmission Company Limited (UETCL) following the controversial resignation of Chief Executive Officer, Joshua Karamagi.
In a brief statement posted on UETCL’s official X (formerly Twitter) page, the Board of Directors confirmed Friday that it had accepted Karamagi’s resignation during its sitting held on July 24.
“The UETCL Board of Directors informs the general public that… it appointed Eng Richard Matsiko as Acting Chief Executive Officer with immediate effect,” read the notice signed by Board Chair Kwame Ejalu
The statement adds : “I would like to thank Joshua Karamagi, CFA for his significant contribution to UETCL.”
Eng Matsiko takes over at a time when Uganda’s electricity transmission sector is under pressure to meet growing energy demands and stabilize the grid amid expanding regional interconnectivity.
Karamagi had served at the helm of UETCL since March 2023,following dismissal of former company CEO George Rwabajungu
His two-year tenure is widely credited with initiating broad institutional reforms and overseeing major infrastructure projects.
A chartered financial analyst by training, Karamagi championed a performance-driven restructuring agenda at UETCL, which had long struggled with delayed transmission projects and management inefficiencies.
He introduced a five-year strategic plan (2024–2029) focusing on accountability and performance metrics, secured ISO 9001 certification for quality management, and oversaw the completion of critical transmission lines.
Among the landmark projects completed under his leadership were the Gulu–Agago line, which unlocked $2.5 million in monthly savings by evacuating power from the Achwa hydro plant, and the Gulu–Nebbi–Arua line, which connected Uganda’s West Nile region to the national grid for the first time since independence.
The Mirama–Kabale 132kV line also brought cross-border connectivity with Rwanda and generates about $1 million in monthly power exports