COSASE Chairperson Muwada NkunyingiBy Prisca WanyenyaA section of legislators has questioned government’s capacity to monitor its investments in private companies after it emerged that the Ministry of Finance has designated one officer, Moses Kaggwa, Director of Economic Affairs, as its representative in over 20 companies.This was revealed during a meeting held on October 29, 2026 between the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) and the Uganda Registration Services Bureau (URSB) to consider the December 2025 Auditor General’s report. The meeting also revealed that five companies in which government holds shares had not paid registration fees amounting to UGX8 billion to formalise the transfer of those shares to government.Martin Muzaale (Buzaaya County) welcomed the revelation that government now owns 91 percent shares in Roko Construction Company after injecting UGX201 billion through purchase of shares, but raised concerns about government’s ability to monitor its interests given that the same official represents government in many other companies.“My worry is, the same Commissioner is actually representative of government in more than 20 serious companies, on top of his official job as Commissioner in the Ministry of Finance. You can imagine the workload. And I think this is the reason why we are seeing all this. Government has paid a lot of money, but we are not even following up to see that the shares of government are protected,” Muzaale said.“I am very sure if Kaggwa is here and we ask him what government is benefiting from the 4 point something percent shares in Tropical Bank, he may not be able to tell us. He may also not be able to tell us what government is benefiting from Roko, where it owns 91 percent,” he added.COSASE Chairperson Muwada Nkunyingi described it as tricky to have the same Commissioner represent government in various companies.“I have also seen that Mr. Moses Kaggwa appearing in every company and whichever company comes here is representing the Ministry of Finance. I am also seeing it a bit tricky; we shall establish maybe what occasions this and what is the rationale from the Ministry,” Nkunyingi said.Similar sentiments were raised by Robert Ssekitoleko (Bamunanika County).“That Mr. Moses Kaggwa name, whenever it is a Ministry of Finance issue, is one who is active every time. We shall resolve the question and we will interest ourselves to know why him only,” Ssekitoleko said.The Committee resolved to summon the Ministry of Finance to explain why the UGX8 billion registration fees for companies in which government holds shares has not been paid, and why one Commissioner was designated to monitor government interests in over 20 companies.The post MPs Question Finance Ministry’s Capacity to Monitor Gov’t Investments as One Official Represents State in Over 20 Companies appeared first on Business Focus.