General Muhoozi Kainerugaba Appoints Trio to Oversee Shs1 Billion Wealth Creation Fund
In a significant move aimed at fostering economic projects, the Chief of Defence Forces, General Muhoozi Kainerugaba, has named three administrators for a dedicated Shs1 billion fund.
The announcement, made on February 8, 2026, confirms Frank Kagyigyi Tumwebaze (Minister of Agriculture, Animal Industry and Fisheries), Edwin Karugire (founding partner of K&K Advocates), and Colonel Chris N. Muwumba (Chief of Staff for the Senior Presidential Advisor for Special Operations) as the fund’s managers.
Gen Kainerugaba will serve as the chairman of the initiative, dubbed the MK Fund. The capital is intended to support “wealth-creating projects” proposed by his followers on the social media platform X (formerly Twitter).
Initially set at Shs500 million, Gen Kainerugaba declared a doubling of the fund to Shs1 billion, stating in a post, “I’m sorry. My God, Jesus Christ, has ordered me to increase it to 1,000,000,000/-.”
The fund’s focus will align with the four key wealth creation sectors often emphasized by President Yoweri Museveni: commercial agriculture, manufacturing, mining, and services—which includes tourism and ICT.
“The administrators will soon communicate on how you can submit your proposals and the rules governing disbursements,” Gen Kainerugaba informed his followers.
The general had earlier crowdsourced suggestions for “the most honest people” to administer the fund, following his initial pledge to financially back viable projects from his online supporters.
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