Kampala, Uganda | NOW THEN DIGITAL — Mathias Katamba, erstwhile Managing Director of dfcu, assumes the helm as the Chairperson of the Uganda National Oil Company (UNOC), succeeding Emmanuel Katongole, whose dual tenure ended recently.
President Museveni nominated Mr. Katamba and five others for parliamentary vetting in a missive to Speaker Among dated March 5. The Petroleum Act entrusts the President with appointing UNOC’s board, subject to parliamentary approval.
Senior Presidential Press Secretary Sandor Walusimbi stated no prior knowledge of the appointment. Katamba, an Economics alumnus from the University of Greenwich, led dfcu until January last year. He previously helmed the government-owned Housing Finance Bank for five years and Finance Trust Bank as CEO.
Joining Katamba on the new UNOC board are Moses Kabanda, Herbert Mugizi, Dr. Ivan Lule, Justine Isenyi, and Zulaika Kasajja Mirembe. Parliament’s Appointments Committee, led by Deputy Speaker Thomas Tayebwa, vetted the sextet last week, as confirmed by Parliament’s Director of Communications Chris Obore.
The incoming board replaces the outgoing Katongole-led administration, active from 2015 until recently. Peter Muliiisa, UNOC’s head of legal and corporate affairs, anticipates the new board’s prompt commencement upon receiving presidential authorization.
UNOC, majority-owned by the Energy (51%) and Finance (49%) ministries, oversees Uganda’s commercial interests in the burgeoning oil sector. Its duties encompass marketing the nation’s petroleum share, fostering industry expertise, and managing the government’s participation in Production Sharing Agreements (PSAs) with international oil firms.
UNOC retains a 15% stake upstream in oil fields operated by Cnooc and TotalEnergies EP and in the East African Crude Oil Pipeline (EACOP). It also manages Uganda’s 40% stake in the proposed refinery and operates storage facilities, including the Jinja Storage Terminal and the planned Kampala Storage Terminal.
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Notably, UNOC confronts internal challenges such as workplace discord and purported influence in senior staff recruitment, refuted by the company, which reaffirms its commitment to transparency and integrity.
The allegations of UNOC's Board dismissal are FALSE. The tenure of our Board of Directors has naturally lapsed as per legal provisions. We remain committed to transparency and accountability in all our operations. pic.twitter.com/NZR7ktKNGc
— UNOC (@UNOC_UG) March 15, 2024
