Events promoter Abbey Musinguzi, commonly known as Abitex, has clarified that the funds recently received from the Government of Uganda were loans, not free handouts, as many had assumed.
Earlier this week, Abitex revealed that promoters had secured UGX 10 billion from the government to support the struggling events industry. Speaking on behalf of promoters across the country, he explained that the money was received through a SACCO formed by event organizers and will be distributed in the form of recoverable loans with a small interest.
“The money given to us event organizers by the government, through the President, is not free handouts. It is provided as loans with a small, manageable interest,” Abitex said.
He added that every promoter who accesses the funds will be required to repay, ensuring the SACCO remains sustainable and continues to support others in the industry.
Abitex believes the initiative will revive the local events sector, which has struggled with limited capital, high operational costs, and financial instability.
“This money will inject fresh life into the industry and help event organizers grow and stabilize their businesses,” he noted.
The move has sparked public debate, with some questioning government involvement, while others have welcomed it as a much-needed boost for Uganda’s entertainment economy.