KAMPALA —Finance Minister Matia Kasaija and tycoon Amina Moghi Hersi no longer see eye to eye over failed accountability of UGX3 billion, which was advanced to her by NAADS to support her Amuru Sugar factory, PML Daily has learnt.
Recently, Officials from the Budget Monitoring and Accountability Unit had sought to audit the company so as to understand how they used the money.
But Amina rejected the proposal and instead reported to State House, accusing Minister Kasaija of trying to frustrate her as an investor.
However, State House officials explained to the businesswoman that as normal procedure, she had to allow government auditors into her company since she had even been given government funds.
But given the close connection between Amina and the President, ministry officials were asked to back out of the planned audit.
They instead advised Mr Kasaija to approach Amina and explain how government processes, something which he has not done.
Government this year increased its stake in the Atiak Sugar project to boost works on the first major factory in the previously war torn northern Uganda. The factory is slated to open in the first quarter of 2020.
As of July 2019, Uganda Development Corporation (UDC), the holding company for government enterprises, has a 40 per cent stake in the company. The other major shareholder is Horyal Investment Holdings Company Ltd (HIHC) owned by Businesswoman Amina Hersi and a host of other investors.