Gen Kainerugaba Unveils Shs1 Billion MK Fund to Back Income-Generating Projects

The Chief of Defence Forces, General Muhoozi Kainerugaba, has announced a Shs1 billion fund to support projects run by his followers on X.

The CDF, who also serves as Senior Presidential Advisor on Special Operations, had first set the fund at Shs500 million before doubling it.

“I’m sorry. My God, Jesus Christ, has ordered me to increase it to 1,000,000,000/-. The administrators will advise me how to manage it. Muraregye,” Gen Kainerugaba posted.

Earlier, he had said: “In accordance with the theme of wealth creation, I am putting up a fund of 500,000,000/- for all my followers on Twitter. We shall be sending money to people who have projects that make sense. I shall announce the administrators of the fund soon.”

He said the fund will be managed by three administrators, with himself as chairman.

“I need 3 administrators. Tell me the most honest people you know,” he posted on X.

In another post, he added: “The administrators will be tasked with giving an annual report of the fund i.e. the MK fund. I will announce the administrators tomorrow. Of course, I will be the Chairman of the fund. God bless you all. Muraregye.”

Gen Kainerugaba said the MK Fund will invest only in the four areas President Yoweri Museveni identified for wealth creation: commercial agriculture, manufacturing, mining, and services, including tourism and ICT.