• Twelve Ugandan music promoters to refund Sh750 million misappropriated from presidential grant.
• Repayment will be enforced individually, with Sh62.5M per promoter deposited to the SACCOS account.
• SACCOS required to strengthen financial controls and appoint new signatories for transparency.

Twelve Ugandan music promoters have agreed to refund Sh750 million from a presidential grant that was allegedly misappropriated, following government intervention led by the Minister of State for Youth and Children Affairs, Balaam Barugahara, according to New Vision.

The decision came after a petition filed on January 20 by fellow promoter Norbert Twizire, popularly known as Nobat Events, who raised concerns over the management of funds disbursed to promoters’ Savings and Credit Co-operative Societies (SACCOS).

President Yoweri Museveni had earlier directed the release of Sh1.5 billion to support music promoters through the Uganda Music Promoters SACCOS and the National Events and Bivulu Multipurpose Co-operative Society Limited, with Sh1.5 billion allocated to each SACCOS.

Twizire alleged that Sh750 million had been withdrawn from each SACCOS account and misused by a few leaders for personal gain, denying many promoters access to the intended support.

“The presidential grant was not intended for personal gain but structured as a revolving fund, allowing registered SACCOS members to borrow and later refund the money so that more promoters could benefit over time,” Twizire said.

In response, Barugahara convened a mediation meeting on January 23 at the Gender Ministry’s boardroom, attended by SACCOS leaders, officials from the State House Anti-Corruption Unit, and the Uganda Microfinance Support Centre (UMSC).

It was unanimously agreed that 12 leaders implicated in the matter would refund the misappropriated Sh750 million within six months, starting January 27. Each individual will refund Sh62.5 million, with personal liability enforced in case of default. The funds will be deposited into Pearl Bank account number 2100068000001, under the National Events and Bivulu Multipurpose Co-operative Society Limited.

Those who committed to refunding the money include:

• Paul Katongole, Godfrey Mayanja, Yasin Kaweesi (Promoter Yasin), Abbey Musinguzi (Abtex Promotions), Zaidi Kafeero – Uganda Music Promoters SACCOS
• Andrew Alfonse Mukasa (Bajjo), Musa Kavuma (KT Promotions), Ronald Muyomba, David Mporah, Moses Lubulwa (Luba Events), Emmanuel Sserugo (Emma Promotions), Juma Balunywa (Balunywa Promotions) – National Events and Bivulu SACCOS

As part of the resolution, the National Events and Bivulu SACCOS will convene an annual general meeting to appoint new bank account signatories, while both SACCOS are required to strengthen financial controls.