Uganda’s grand industrialisation project, fronted by the Uganda Development Corporation (UDC) under the stewardship of its Executive Director Patrick B. Birungi, is facing a reckoning. A forensic review of UDC’s books for the financial year 2023/2024 reveals a sobering pattern: over UGX 1.089 trillion invested in 17 companies, yet more than UGX 10.5 billion in loans remain uncollected, UGX 92.5 billion sits unspent, and core projects are stalled by legal ambiguities, poor governance, and delayed decision-making. At the heart of this financial quagmire is a leadership vacuum: for the better part of three years, UDC has operated with an incomplete…
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