Home National UIA’s Morrison Rwakakamba and Group Summoned by COCASE Over Embezzlement of Ugx55m

UIA’s Morrison Rwakakamba and Group Summoned by COCASE Over Embezzlement of Ugx55m

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Uganda Investment Authority Chairman Morrison Rwakakamba and group summoned by COCASE over Shs55 million embezzlement

There is fire in Uganda Investment Authority (UIA) after the Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) allegedly summons the UIA’s Chairman Board of Directors Morrison Rwakakamba and his group to account for the improper allocation of Ugx55m

It is being learnt that, this money was supposed to be used towards the sponsorship of investment promotional gatherings, a violation of fiscal responsibility guidelines outlined in the Fiscal Charter. But there has been a discrepancy among the issues highlighted in the Annual Audit Report for the fiscal year 2022/2023.

What Really Happened?

Legislators expressed concern over procedural irregularities in the recruitment process, where there was a failure to hire staff as indicated in the Office of the Auditor General report. This is where UIA’s Chairman Morrison Rwakakamba and his group he leads gets involved.

This revealed that out of the Shs49.9 billion allocated to UDC, only Shs49.62 billion was utilized, with unspent funds attributed to unsuccessful recruitment efforts where there was allegedly lack of qualified candidates.

We are addressing a misallocation issue where the law is unequivocal, and evidence of wrongdoing is apparent. The Auditor General has made his recommendations, and we will make our determinations accordingly. We request a comprehensive account of events sponsored at that expenditure level,” Nakato who sits on the committee quipped.

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With the COCASE committee determined to unearth the rot in UIA, Hon. Paul Ssekabira says they want to know how the whole Uganda Investment Authority that is fully equipped failed to land on suitable candidates thus ending up misusing tax payer’s money.
“It is incredulous to suggest that UIA, with its mandate, could not find suitable candidates for its positions, as their tasks are not overly complex. We need clarification on whether there were delays in engaging an external hiring firm or internal procedural issues” Hon. Paul Ssekabira for Kasubi North said.
Furthermore, Nakato has assured the committee’s commitment to investigating failed recruitment attempts by examining recruitment standards, the caliber of candidates sought by UIA, and the quality of applications received.