Following the Uganda Investment Authority (UIA) executive director’s letter to the board refusing to vacate office, the UIA board chairperson Dr Emely Kugonza has written to the minister of Finance Matia Kasaija expressing concern over Kaguhangire’s behaviour.
In a letter to the minister dated 28 June 2018 Dr.Emely said that the refusal to vacate and handover office by Mrs.Jolly Kaguhangire has generated a lot of confusion at the authority and is badly affecting the image and investor confidence.
Dr. Emely said, “Her letter to me was full of falsifications and lies which I would like to correct.”
Emely said that whereas it is true that section 4.4.1 of the Board Manual prohibits the participation in the deliberation of matters to which a member has interest. It is not on the record of the board meeting of 26 June 2018 that a member of the board had a personal conflict with Jolly Kaguhangire.
With regards to the quorum, Dr. Emely said that the only 8 board members are required for the Board meeting to be quorate as such 10 members were available including Jolly Kaguhangire.
On June 27, 2018, a letter addressed to the UIA board copied to the minister of Finance, Inspector General of Police, Permanent Secretary to the Treasury, all staff among others, Kaguhangire insisted that she wouldn’t comply with the interdiction citing a number of reasons.
On June 26, 2018, the board of directors of the Uganda Investment Authority (UIA) suspended the executive director, Jolly Kaguhangire, over allegations of corruption and mismanagement of the authority.
She was suspended for three months, according to a letter signed by Emely Kugonza, the UIA board chairman.
Unconfirmed reports indicate the suspended UIA ED Jolly Kaguhangire will handover office this afternoon.