The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed the Bank of Uganda (BoU) to provide detailed records on a Shs140 billion guarantee involving HABA Group of Companies as the committee investigates efforts to recover the outstanding funds.

The directive followed the appearance of the Bank of Uganda Head of Legal and Company Secretary, Dorothy Masifa Ochora, who took an oath before the committee chaired by Muwada Nkunyingi before being allowed to proceed with her submissions.

Ochora told the committee that the guarantee was issued following instructions from the Ministry of Finance.

However, she could not immediately provide details of the due diligence conducted on HABA Group, explaining that she only joined the Bank of Uganda in December 2025 and would need to consult earlier records.

The committee questioned why the money has remained outstanding since 2017 and why the central bank has not directly engaged HABA Group in efforts to recover the funds.

Ochora explained that the Bank of Uganda has instead been engaging the Ministry of Finance and its external lawyers, Marks Advocates, on possible solutions, including court action.

The committee further established that HABA Group did not provide any security against the guarantee.

Ochora maintained that the money was advanced to government and that the Ministry of Finance is responsible for settling the outstanding amount.

She also confirmed that the Bank of Uganda has written to the ministry seeking payment of the debt.

COSASE has ordered the central bank to return when the committee resumes the matter on Wednesday with detailed records on the Shs140 billion guarantee, including previous recovery efforts and legal advice obtained in the matter.

The committee will also investigate allegations involving licensed mobile-money operators and the use of guarantors without their knowledge.

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