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Josephine Okui Okwakol Ossiya CPA, FCCA, MBA, has been appointed as the next Chief Executive Officer of Uganda’s Capital Markets Authority (CMA).
She replaces Keith Kalyegira who has been the CMA Chief Executive since December 2013 and his two-term office has elapsed.
Established in 1996 under the Capital Markets Authority Act (Cap 84), the CMA promotes, develops and regulates Uganda’s capital markets industry.
One of Uganda’s most respected and trusted finance professionals and business leaders, Josephine Ossiya brings to CMA a 27-year finance career and a wealth of management, finance and accounting as well as project management skills. As a finance professional, her key specialisations include financial analysis, cash flow, risk and compliance management.
She has been the Chief Finance Officer of Bujagali Energy Limited since November 2014. Bujagali Energy Limited is a privately owned power producer in Uganda that operates the 250MW Bujagali Hydro Power Plant on the River Nile, in Jinja. The shareholders of Bujagali Energy Limited are SN Power Invest (a majority-owned subsidiary of Scatec ASA Norway); Bujagali Holdings Power Company Ltd (BHPCL) an affiliate of Aga Khan Fund for Economic Development (AKFED); and the Government of Uganda (GoU).
She has also been a partner in a private practice firm called Rona & Partners, which she founded in 2005. Before that, between May 2012 and August 2014, was the CFO and Head of Finance at American Tower Corporation in Ghana.
Between July 2008 and May 2012, she was Finance Director at Eskom Uganda and from January 2008 to June 2008 she briefly worked as Finance Controller at Standard Chartered Bank. From August 2004 to December 2007 she was the Financial Controller at Shell Uganda Limited, and between January 2001- August 2004 was the Area Auditor for Eastern Africa, at British American Tobacco.
She broke her finance teeth at Uganda’s National Social Security Fund (NSSF) in October 1996 as an Internal Auditor and worked there for 4 years until December 2000.
Josephine has also been a board member at Britam Holdings Limited (July 2019- April 2023) and the Bank of Uganda since March 2018 to date.
In July this year, she was elected as the first female president of the Institute of Certified Public Accountants of Uganda (ICPAU)- Uganda’s National Professional Accountancy body that regulates and maintains the standard of accountancy in Uganda. It also prescribes and regulates the conduct of accountants and practising accountants in Uganda. Before that, she was the Vice President of the regulatory body.
The Mt. St. Mary’s Namagunga alumna holds a B.Com (Accounting) degree from Makerere University and an MBA (International Business) from the University of Liverpool amongst many other qualifications.