UETCL gets new Chief Executive Officer
Eng. Richard Matsiko, the acting Chief Executive Officer UETCL
Following an ordinary sitting on 24th July 2025, the Board of Directors of UETCL appointed Eng. Richard Matsiko as the Acting Chief Executive Officer. This follows the resignation of Mr. Joshua Karamagi CFA from his position as the Chief Executive Officer (CEO) of UETCL. The Board calls upon the public to join it in congratulating Eng. Matsiko upon his new commission.
The Board accepted departure of Mr. Karamagi and expressed gratitude for his leadership during a transformative period at the company.
Mr. Karamagi, a Chartered Financial Analyst, has over two decades of experience in the energy and finance sectors. He was appointed CEO of UETCL in 2021 and is credited with steering key infrastructure upgrades, improving financial sustainability, and overseeing the expansion of Uganda’s transmission grid in alignment with the country’s Vision 2040 energy goals. Prior to joining UETCL, Karamagi served in senior roles at Umeme and the Electricity Regulatory Authority (ERA), where he contributed significantly to sectoral reforms and private sector engagement.
Who is Matsiko
Eng. Matsiko, the new acting CEO of UETCL, is highly respected in the electricity supply industry. He began his career as a trainee electrical Engineer at UETCL and worked his way up to the position of Deputy CEO.
Additionally, he serves as the chairman of the Power Purchase Agreement Committee and leads the committee responsible for delivering UETCL Towers.
