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Akamwesi boss dismisses claims of receiving Covid-19 cash

Akamwesi boss dismisses claims of receiving Covid-19 cash
Thursday April 22 2021
Summary
Speaking to journalists in Kampala, Mr Kamunyu said the money, which he borrowed from UDB had been advanced to him specifically to build a shopping mall along Gayaza road and has never accessed any money to invest in agribusiness and processing.
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Businessman Fred Kamunyu and proprietor of Akamwesi Hostels, has dismissed claims that he inappropriately received Covid-19 money and diverted it.
The money, which is channeled through Uganda Development Bank (UDB), is part of the Covid-19 stimulus funds that seek to support recovery of struggling businesses.
Mr Kamunyu’s claims come on the back of accusations by a section of Members of Parliament on the Finance Committee, who allege that whereas UDB advanced him Shs20b to invest in among others, agribusiness and processing, he had used the money to construct a mall.

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