Uganda Electricity Transmission Company Limited has appointed Michael Taremwa Kananura as the Acting Chief Executive Officer, replacing George Rwabajungu who served the company in many capacities for many years.
“The exercise is an inevitable phenomenon in the company’s life driven by rationality of efficiency allowing for maximization of wanted benefits in developing a good corporate governance culture at the company in the interest of its shareholders and the general public so as to cause a positive turn around and enhance efficiency in operations.” said Kwame Ejalu Ojuku, the UETCL board chairperson in a memo dated Aug.10.
Kananura joins UETCL at a time the electricity transmission company is embroiled in allegations of corruption, bad governance and mismanagement of funds.
He demanded that UETCL provides the committee with a comprehensive report regarding the controversial payment of Shs28 billion to project affected persons on the Namanve-Luzira land for the construction of the 132KV transmission line.
There were also wide spread allegations that UETCL officials inflated the compensation figure and even compensated people on government owned land among other irregularities.
UETCL is a limited company responsible for purchasing electricity and selling it to distribution companies on behalf of Government.
The Minister of Finance and State minister for Privatization are the shareholders with 51% and 49% shares respectively while the line Ministry of Energy and Mineral Development is the vote controller and in charge of supervision.
The shareholders will therefore be waiting to see the magic from Kananura to improve the corporate image and performance of the company.
Kananura at a glance
He is a Certified Public Accountant and a Fellow of the Association of Chartered Certified Accountants (FCCA). He holds an MPhil. Development Finance – University of Stellenbosch (S.A), Bachelors of Commerce (Accounting and Auditing – (MUK,), Bachelors of Laws (Cavendish University Uganda) plus a Diploma in Tax Planning and Tax Administration.
Most recently, he served as the Chief Finance Officer of Uganda Electricity Distribution Company Limited from 2019 to 2021 before joining the Uganda Electricity Transmission Company Limited.
Before joining the UEDCL, he spent over 11 years at Senior Management Level. Seven years of his 11, he worked with the Electricity Regulatory Authority (ERA), serving in different capacities where he initiated and implemented utility reforms in Financial Regulatory Reporting, Investment Verification, and Corporate Accounting.
Taremwa coordinated the Investment Planning and Verification team under the ERA from 2014 to 2019 and was part of the team that drafted the Investment Approval and Verification Regulations, Uniform System of Accounts Guidelines, Member of the team reviewing licensee applications on Licensing, monitoring, parameter review, and Procurement Contracts Committee.
Before working with the ERA, Taremwa worked as a Finance Manager at Actionaid Uganda, as Head of Finance at Actionaid Rwanda, and Actionaid Zambia where he developed and implemented financial and accounting systems in these Country programs.
His combined analogous experience in electricity regulation, distribution, transmission, and humanitarian work piercingly makes him the right candidate for the top job at UETCL, according to his backers.
Other management changes
Also appointed are; Richard Matsiko who has been appointed as acting deputy managing director following the retirement of Valentine Katabira on August 8, 2022.
Matsiko will closely supervise planning and investment, operation and maintenance and project implementation.
Daniel Kisira has also been appointed as acting manager project implementation. Kisira has been working at the company as principle officer in the planning and investment department.
He replaces William Nkemba who has been working as manager project implementation since 2013 and as Chairman Contract’s committee since May 2012.
Karim Abdul Jumbo has been appointed as acting manager ICT while Denis Okot has been appointed as acting manager operations and maintenance. Jumbo replaces Peter Igibolu while Okot replaces Richard Matsiko.