Being loyal and publicly supportive of appears to have its benefits, as netizens on X (formerly Twitter) would soon discover. In a bid to fight poverty amongst Ugandan youth, the First Son and Chief of Defence Forces (CDF), General Muhoozi Kainerugaba, announced on February 8, 2026, the creation of a wealth fund valued at Shs1 billion, accessible to his followers on the platform.
“In accordance with the theme of wealth creation, I am putting a fund of Shs500 million for all my followers on Twitter. We shall be sending money to people who have projects that make sense. I shall announce the administrators of the fund soon,” he stated. He would later increase the total amount to a staggering Shs1 billion.
The announcement comes at a time when Uganda is grappling with a severe unemployment crisis. Despite government efforts to create jobs, progress has been slow and, at times, largely ineffective. With over three million unemployed youths and another nine million aged between 18 and 30 classified as uneducated and unemployed, the prospects for young Ugandans remain uncertain. Studies conducted in 2024 indicated that 16.1% of the population (approximately ten million youths) were facing significant challenges in accessing both employment and education.
Reactions to the wealth creation fund were mixed. Some critics argued that the initiative was insufficient to address the scale of unemployment and inequality in the country. “Put that money in the health and education sectors instead. That would have helped Ugandans, not merely followers. Make Uganda a better place for everyone, not your Balaams,” One user wrote. Others, however, welcomed the move, describing it as a timely intervention for struggling projects across the country that lack adequate capital.
On February 10, 2026, the CDF announced the administrators of the fund, naming: (i) Hon. Frank Tumwebaze, (ii) Mr. Edwin Karugire, and (iii) Col. Christopher Muwumba. According to the announcement, the fund will primarily target four key areas of wealth creation in Uganda: commercial agriculture, manufacturing, mining, and services—including ICT and tourism.
The fund is among several initiatives championed by Gen. Kainerugaba in pursuit of a faster and more efficient path to middle-income status. Nonetheless, critics continue to highlight concerns over transparency, accountability, and representation within Uganda’s upper echelons of power, arguing that such initiatives risk widening the gap between the ruling class and the broader population. Further details regarding access to the fund and the eligibility criteria are expected to be communicated in the near future.
