The Uganda National Oil Company (UNOC) which represents Uganda’s commercial interests in the oil and gas sector will do whatever it takes to ensure Ugandans gain maximum value from their resource, says Proscovia Nabbanja, the chief executive officer.
“The bottom line is that in whatever we do, we must do it with a lens of focus that returns benefits to all Ugandans because that is our vision,” Nabbanja noted when asked what her key area of focus would be, in a wide ranging interview published in the Uganda Chamber of Mines & Petroleum (UCMP) magazine.
Nabbanja who replaced Josephine Wapakabulo on October 1, 2019 at the helm of UNOC, has seen her reign largely interrupted by the Covid-19 global pandemic. However, she remains committed to transforming the organization positively “through setting direction and influencing others to deliver value for this country”.
Adding about her role, “This platform is an opportunity for me to give back to my country by delivering on critical projects in the oil and gas sector, in turn, creating value for the country”.
Her reign will focus of four key areas including: delivering on a strategy that is driven by UNOC’s key projects and a fit-for-purpose target operating model. This means ensuring that adequate financing is available for both operational and project development activities.
Enterprise Risk Management, with deliberate focus on managing risk through an adequate risk management framework, will also be a priority.
“Our business must also be adaptable to the changing global environment,” she said.
Furthermore, Nabbanja’s eye will be on building a “pipeline of talent’ which she says is a critical success factor for delivering UNOC’s mandate; with the company tailoring its policies to attract and retain a skilled workforce.
“To improve our leadership pipeline, we will undertake Succession Planning, among other supporting programs, including policy development to foster leadership that reflects the diversity of the community we serve,” she adds.
Finally, Nabbanja will ensure the various stakeholders’ needs and expectations are managed adequately while fulfilling the corporate strategic objectives of UNOC.
All these are achievable with adequate financing in place, she notes.
“Meeting our funding requirements for operational success and development projects has been a challenge. We are, therefore, in the process of developing a financing strategy and engaging relevant stakeholders to ensure that we realize adequate funding to participate in the projects and get the projects off the ground. Timeliness of this financing is mission-critical,” says Nabbanja.