The Chief of Defence Forces, Gen. Muhoozi Kainerugaba, has kicked off the inaugural meeting of the MK Fund and its Board of Trustees in Fort Portal, unveiling a new initiative designed to empower vulnerable groups, with a focus on urban youth and innovators.
Gen. Kainerugaba said the fund will complement existing government programs like the Parish Development Model (PDM), targeting young people who might otherwise miss out on traditional support systems.
As chairman of the board, the CDF emphasized that the trustees will provide strategic oversight, while a review committee will assess applications from individuals seeking seed funding.
The board features high-profile figures including Health Minister Jane Ruth Aceng, Agriculture Minister Frank Tumwebaze, lawyer Edwin Karugire as secretary, and veteran journalist Andrew Mwenda.
The MK Fund will offer seed grants of up to Shs1 million to young entrepreneurs with innovative ideas in agriculture, services, local manufacturing, and ICT. Beneficiaries will not be required to repay the money. “The only payback will be the success of the recipient,” Gen. Kainerugaba noted.
Applications will be handled online through a dedicated website, where applicants can find eligibility criteria and submit their proposals.
Starting with Shs1 billion in initial capital, the board plans to grow the fund over time, ensuring sustainability and extending its reach to more young entrepreneurs nationwide.
Gender and regional balance will be a priority, with at least 30 percent of funding reserved for female applicants, and beneficiaries drawn from all regions of Uganda.
A small secretariat will manage applications, evaluate candidates, and monitor and evaluate the businesses established by the beneficiaries, ensuring the fund makes a lasting impact.
