How a Shs 107 Billion Old Mutual Investment by Uganda Airlines Triggered a Kickback Probe

A Shs 107 billion investment by Uganda Airlines in a unit trust managed by Old Mutual Investments Uganda has come under scrutiny following allegations that a senior airline finance official demanded a $100,000 (approximately Shs 369 million) kickback in connection with the transaction.The allegations have raised questions about financial governance, transaction approvals and the treatment of an independent financial adviser who reportedly opposed the proposed payment and subsequently lost access to the airline’s account.