The Chief of Defence Forces (CDF), Gen Muhoozi Kainerugaba, has launched a Shs1 billion initiative dubbed the MK Fund, aimed at supporting youth-led wealth creation projects in Uganda.
The announcement, made through a series of posts on X (formerly Twitter), has generated widespread discussion, with supporters praising it as a timely intervention for young entrepreneurs, while critics raise concerns over transparency and accessibility.
In a post dated February 10, Gen Muhoozi named three administrators who will oversee the fund: Minister Frank Tumwebaze, lawyer Edwin Karugire, and Col Christopher Muwumba.
“The administrators of the MK Fund are: (a) Hon. Frank Tumwebaze (b) Mr. Edwin Karugire (c) Col. Muwumba,” Gen Muhoozi wrote.
Gen Muhoozi also stated that the fund will focus strictly on four priority wealth creation sectors identified by President Yoweri Museveni: commercial agriculture, manufacturing, mining, and services including tourism and ICT.
He added that the administrators will soon provide the public with guidelines on how proposals will be submitted and the rules governing disbursement.
“The administrators will soon communicate on how you can submit your proposals and the rules governing disbursements,” he posted.
The announcement was echoed by Kasambya County MP and Patriotic League of Uganda (PLU) Secretary General Daudi Kabanda, who described Gen Muhoozi as chairman of the initiative and listed the appointed administrators.
Minister Tumwebaze welcomed the appointment, describing the MK Fund as a positive step toward empowering innovative youth and supporting entrepreneurial ideas.
“Thank you afande… for the good initiative to start a fund to help young innovative minds,” Tumwebaze wrote on X.
While the fund has been applauded by many online users, some Ugandans have questioned whether ordinary youth across the country will be able to access the money fairly, given the senior political and military figures appointed to manage it.
Others have raised concerns about potential favouritism, arguing that without clear guidelines and oversight, the initiative could mainly benefit individuals with strong connections to influential circles.
The MK Fund announcement adds to Gen Muhoozi’s growing profile in public affairs, particularly among youth groups, where he commands significant support through social media engagement and initiatives linked to the Patriotic League of Uganda.
For now, attention remains on the fund’s administrators, who are expected to issue official communication detailing eligibility, application procedures, and accountability measures in the coming days.
