Gen Muhoozi Kainerugaba, Uganda’s Chief of Defence Forces and son of President Yoweri Museveni, has unveiled the administrators who will oversee his newly launched MK Fund, a Shs1 billion initiative aimed at financing youth-led wealth creation projects.
The fund, which was first proposed at Shs500 million, was later doubled to Shs1 billion following discussions and feedback from Gen Muhoozi’s followers on X (formerly Twitter). The initiative targets young Ugandans with viable ideas, particularly in key sectors such as agriculture, entrepreneurship, and innovation.
According to the announcement, the MK Fund will be managed by a three-member team comprising Hon. Frank Tumwebaze, a Member of Parliament from the ruling National Resistance Movement (NRM); Mr. Edwin Karugire, a seasoned business executive; and Col. Muwumba, an officer of the Uganda People’s Defence Forces (UPDF). Gen Muhoozi will serve as the overall chairperson of the fund.
The administrators have been tasked with ensuring transparent management of the resources and are expected to present annual reports detailing the fund’s impact, including the number of youth supported and progress made in wealth creation.
Gen Muhoozi described the MK Fund as part of broader efforts to empower young people economically and encourage self-reliance, noting that structured support and accountability will be key to its success.