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
ICPAU (Institute of Certified Public Accountants of Uganda)
Issued Sep 2001
Certified Public Accountant
Institute of certified public accountants of Kenya
Issued Dec 1999
Education
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.
