KAMPALA — Uganda’s President Yoweri Museveni has demanded an explanation from the Ministry of Finance following reports that more than $14 million allocated for repayment of government loans to the World Bank and the African Development Bank was allegedly diverted and transferred to foreign accounts.
The funds were reportedly intended to service Uganda’s external debt obligations in late 2024. Following an audit that raised concerns over the missing money, authorities have launched investigations to establish how the funds were moved and identify those responsible.
President Museveni has requested clarification from officials at the Ministry of Finance as the government seeks accountability over the alleged financial irregularities.
The reported loss has raised concerns over financial management, public accountability, and controls within Uganda’s government institutions, particularly regarding the handling of funds meant for international debt obligations.
Investigators are expected to examine financial records, transaction channels, and the involvement of any individuals or entities linked to the alleged transfers.
The World Bank and African Development Bank are among Uganda’s major development partners, providing financing for infrastructure, social programs, and economic development projects.
The government has not announced final findings from the investigation, and no individuals have been publicly charged in connection with the alleged disappearance of the funds.
The case comes as Uganda continues efforts to strengthen public financial management, improve oversight systems, and address concerns over corruption and misuse of state resources.
