KAMPALA- As we report now, Kampala Businessman Nelson Tugume commonly known as Inspire could very soon be behind bars. This is after President Museveni has demanded a full accountability in the Ugx37B meant for coffee value chain.
It’s said that in the mid last year, President Museveni authorized the Finance Ministry to set aside $10 million (Ugx 37 billion) as a coffee export fund to allow exporters access to the required capital to procure large quantities of coffee from farmers for value.
The lobby was under Coffee Investment Consortium Initiative, whose Chairperson is Businessman Nelson Tugume, members included; Kwezi Kutesa of Kwezi Coffee, Gerald Katabazi of Volcano Coffee, Jaquelin Arinda of Jada coffee among others. According to available information, these later quitted after failure to get helping funds mounting to USD 550m each from the initiative.
The news about this saga was later silenced, however it has been resurrected a few days by Robert Kabushenga the former Executive Director of New vision through his twitter handle. This has since attracted public attention on social media. Sources to this publication which preferred anonymity revealed that the president had already got intelligence on the same.
His Excellency the President has since requested for an update on how far this has gone following the disbursement of the funds worth UGX. 37billion (Thirty Seven Billion Uganda Shillings) towards Coffee Value Chain. In the same regard, he has asked Hon. Dr. Monica Musenero, the Minister for Science, Technology, and Innovation Secretariat to compile an audit financial report on the Ugx37B that was meant for the coffee value chain.
In a letter written by Dr. Musenero, dated 15th of January 2024 to the chair of CICU, the Minister quoted that ; the President has requested the update performance of 37B following the disbursement of the funds worth UGX. 37billion (Thirty Seven Billion Uganda Shillings) towards Coffee Value Chain.
In the same letter, the Minister said, she is in the process of putting together the technical financial report for the 37B. She highlighted that, the purpose of the letter was to request the chair with; technical progressive report against the milestones but also, to avail the record of accounts and all accountability documents for an internal Audit.
It can be recalled that the same businessman Tugume, on December 29, 2022, commissioned a Coffee Factory in Ntungamo and the chief guest was none other than the President and the first lady. During the commission, Mr. Tugume commended the President for promoting value addition on coffee in order for Uganda to get what it deserves as one of the top coffee producing countries in the world. He informed the president that the global coffee industry is worth more than US$400 billion.
Tugume further informed the President that a total of 50 cooperatives have come together under Ankole-Rwenzori-Kigezi Coffee Investment Consortium Uganda (ARKCU) to promote value addition and determine their price on the global market, saying the people sitting behind the computers to determine the value of Ugandan coffee in UK and USA, none has ever owned one plant of coffee.
