The Independent March 10, 2026 NEWS
The fund will be giving seed grants to youth with innovative business ideas in commercial agriculture, local manufacturing and ICT
Fort Portal, Uganda | THE INDEPENDENT | The Chief of Defense Forces (CDF), Gen. Muhoozi Kainerugaba, has today chaired an inaugural meeting of the newly formed MK Fund. It was also the first meeting of the Board of Trustees.
The Mk Fund will complement existing government programs such as the Parish Development Model (PDM) and serve those segments of society that are most vulnerable, such as urban youths.
Gen Muhoozi, who is chairman of the Board of Trustees of the MK Fund, said the board is meant to provide direction and oversight to the fund. He also said the board will set up a review committee to examine and evaluate applications from those who want to apply for money from the fund. Members of the Board of Trustees include Jane Ruth Aceng, the minister of health; Frank Tumwebaze, the minister of agriculture; Edwin Karugire, who is its secretary; and Andrew Mwenda, a veteran journalist.
The fund will give out seed grants to youth with innovative business ideas in commercial agriculture, local manufacturing and ICT. The seed grants will be given to individuals, with each person receiving not more than Shs 1m in cash. Beneficiaries will not need to pay back the money. “The only pay back will be the success of the recipient,” Gen Muhoozi said.
The fund will soon have a website running, through which applications will be submitted online. Details of the eligibility for accessing the fund will be found on the website. Although the initial size will be Shs 1 billion, the chairman and the board of trustees will look for ways to grow the fund so that it does not get exhausted and is also able to serve more people.
The MK will ensure that a minimum of 30% of the grants will go to female candidates. The Fund will also ensure regional balancing.
The fund will set up a small secretariat to handle applications, evaluate candidates and also do monitor and evaluation of businesses that individual beneficiaries will have set up.
