The Uganda Electricity Transmission Company Limited (UETCL) has appointed Eng. Richard Matsiko as its Acting Chief Executive Officer, effective immediately.

The decision was announced in an official statement released by the company’s Board of Directors on Friday, July 25, 2025, following a Board meeting held on Thursday, July 24.

Eng. Matsiko takes over from Joshua Karamagi, Climate Finance Accelerator (CFA), who tendered his resignation as Chief Executive Officer. The Board accepted his resignation and thanked him for his significant contribution to the company.

“On behalf of the Board of Directors, I would like to thank Joshua Karamagi, (CFA), for his significant contribution to UETCL,”  Kwame Ejalu, Chairman of the Board stated.

A seasoned engineer and long-serving member of UETCL’s technical leadership, Eng. Matsiko previously served as Acting Deputy Managing Director in 2022, where he oversaw strategic operations including investment planning, maintenance, and project implementation. He has also held the roles of Manager Operations and Maintenance and Principal Protection Engineer.

The Board expressed confidence in Eng. Matsiko’s ability to guide the company through the transition and called upon stakeholders and the public to join them in congratulating him on his new role.

His appointment comes at an important time as UETCL works to strengthen its leadership and continue investing in Uganda’s power transmission network.