Josephine Wapakabulo resigns from UNOC top position

May 13, 2019 in Business, Companies, Energy, Hydrocarbons, Infrastructure, Investment by Editor

Dr. Josephine Wapakabulo has resigned from the position of chief executive of the Uganda National Oil Company UNOC, in a move that is likely to send ripples throughout the regional oil and gas industry.

Ms Wapakabulo was not immediately available to comment on the reports but 256BN  has learned that the shock decision that takes effect on August 13, was communicated to the UNOC BoD this afternoon when Ms Wapakabulo handed her resignation to board chair Mr. Emmanuel Katongole.

Sources say Wapakabulo who has been at the helm of UNOC since August 1, 2016 and has overseen the recruitment of key staff and setting up of administrative systems from scratch, has not given any specific reasons for her decision beyond the standard “time to focus on my family and new opportunities.”

Although she told the board that she had confidence in the capabilities of the team she was leaving behind, Wapakabulo’s departure comes at a critical time for Uganda’s oil and gas programme that is yet to lock in a final investment decision for development of the upstream sector.

Alongside , Ernest Rubondo, her counterpart at the Petroleum Authority, Wapakabulo inspired confidence in Uganda’s oil and gas industry since together, they constituted a handful of public sector employees that are untainted by scandal.