Uganda’s events industry is buzzing after government released over UGX 10 billion to support event promoters but it’s what came next that has set tongues wagging.
Renowned Ugandan promoter Abbey Musinguzi, aka Abtex, has confirmed that the funds have already been deposited into a SACCO created for event promoters, a move expected to revive an industry battered by years of financial hardship.
In a video now circulating online, the Abtex Promotions boss revealed that he holds final signatory authority on the SACCO account — meaning no money can be withdrawn without his approval.
“In the SACCO, I put the final signature. All the money on the account is under my supervision,” Abtex stated.
The funding is intended to help promoters scale up their operations, organize bigger concerts, and rebuild Uganda’s entertainment scene. It also aligns with government’s broader plan to boost the creative economy under the 2025/26 national budget, with entertainment and cultural industries placed at the center of growth.
However, Abtex’s declaration of supervisory control has stirred mixed reactions. While many promoters have welcomed the long-awaited financial lifeline, others are raising questions about accountability, transparency, and fair access to the funds.
As the industry celebrates the cash injection, the debate over who controls the billions and how they will be shared is only just beginning.
Stay tuned for more updates on this developing story.
