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Profile: Who is Joshua Karamagi, the new UETCL CEO?

By Executive Editor

The Board of the Uganda Electricity Transmission Company Limited – UETCL – has announced Joshua Karamagi as the new Chief Executive Officer.

UETCL said in a tweet Monday that: “The Board & Management of UETCL welcomes Mr. Joshua Karamagi the New Incoming CEO who will assume office on 1st March, 2023.”

Karamagi joins UETCL from Uganda Electricity Generation Company Limited where he has been the Chief Finance Officer since 2015.

Karamagi is an accomplished finance Professional and business leader offering over 25 years of CFO experience, in energy infrastructure finance and investments; business consulting, audit and assurance. He has Extensive experience in capital project analysis, cost improvement and strategic business plan development.

“Effective communicator and problem- solver. Enjoy supporting the efforts of multiple departments,” part of his profile on LinkedIn reads.

Work Experience

CFO, UEGCL 2014-2022

While at UEGCL as CFO, Karamagi was extensively involved in infrastructure development and was a key member of the team that developed 2 major hydro power projects worth $2 billion- structuring the financing, negotiating PPAs and construction successfully. He also successfully participated in the structuring, financing and construction of Nyagak hydro power plant as a PPP worth $25M, Finance/Accounting leader- strategic planning for top line growth, budgeting and capital allocation supporting the organization’s growth and profitability.

Financial Director, Makerere University – 2010 – Dec 2013

Assistant Commissioner, Ministry of Finance, Planning and Economic Development – 2007 – Oct 2010.

Chief Financial Officer, National Social Security Fund – NSSF – Jan 2003 – Jul 2007

Chief Accountant, Uganda Breweries Limited (Diageo Group) – Dec 2001 – Dec 2002.

Chief Accountant, AFRICA ONLINE UGANDA LIMITED – Jan 2001 – Nov 2001.

Financial Accountant, Celtel, Jan 1999 – Dec 2000

Audit Senior, PwC

Jun 1995 – Dec 1998

Licenses & certifications

Chartered Financial Analyst (CFA) Charter Holder

CFA Institute

Issued February 2022

Dale Carnegie Course, Leadership Training for Managers

Dale Carnegie Training

Issued 2017

Certified Public Accountant

ICPAU (Institute of Certified Public Accountants of Uganda)

Issued Sep 2001

Certified Public Accountant

Institute of certified public accountants of Kenya

Issued Dec 1999


Edinburgh Business School, Heriot-Watt University

Master of Business Administration – MBA

November 2005.

Makerere University

B.COM (Hons) – Business Management, Marketing, and Related Support Services

June 1995.

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