Matsiko appointed acting UETCL chief after Karamagi resignation

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Eng. Richard Matsiko has been appointed as the acting Chief Executive Officer of Uganda Electricity Transmission Company Limited (UETCL).

A statement issued by the chairperson of the UETCL board of directors, Kwame Ejalu, on behalf of the board, confirmed that during their ordinary meeting on July 24, 2025, Matsiko was appointed to this position with immediate effect.

The development follows Joshua Karamagi's resignation from his position as UETCL chief executive officer.

Joshua Karamagi resigned from his position as UETCL chief executive officer. (Photo by Benon Ojiambo)

"The Board of Directors accepted the resignation. On behalf of the Board of Directors, I would like to thank Mr. Joshua Karamagi, CFA, for his significant contribution to UETCL. Please join the Board in congratulating Eng. Matsiko and wishing him success in his new commission,” the statement read.

The resignation

Karamagi's resignation comes after just two-and-a-half years from the time he took the reins at the power company.

“Dear colleagues, the time is now! I have left my position at UETCL today. It was great working together for the past 2.5 years. I wish you all the best,” Karamagi posted in one of the agency’s WhatsApp groups on Friday.

Effective March 2023, Karamagi was appointed UETCL chief executive, replacing George Rwabajungu, who had been sacked in August 2022.

Between August 2022 and March 2023, the position was temporarily held by Michael Taremwa Kananura, the company’s then finance, accounts and sales manager, who, as well, has since left the agency.

In an email to UETCL staff, Karamagi said his time at the organisation was one that saw ‘great changes’.

“Under my leadership, our strategic direction and vision became tangible and clear, our performance improved for the better and several key projects were delivered successfully,” he wrote in the email.

Such projects included the 132kV Gulu-Agago transmission line that relieved the government of a monthly deemed energy expenditure of $2.5m (about sh9b) and the Kole-Gulu-Nebbi-Arua 132kV that connected the West Nile sub-region to the national grid.

“I am incredibly grateful to the staff of UETCL for the energy, vision and heart that you dedicated to our organisation and customers over these past two and a half years.  I also take this opportunity to thank the Board of Directors for having accorded me this opportunity to serve as CEO of UETCL,” Karamagi said.

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 Uganda Electricity Board 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.