The Uganda Capital Markets Authority (CMA) issued a public clarification in response to two social media articles it says are purportedly based on an “open letter” from CMA staff alleging misconduct by the Chief Executive Officer. CMA stated that the alleged open letter has never been brought to the attention of the CEO, senior management or staff, and described the circulating articles as false and misleading. CMA said the allegations relate to areas including per diems and allowances, implementation of the salary structure, and procurement. It stated that its policies are approved by the Board and documented in its Human Resources Manual, that its wage budget is set within the national budgeting framework and fund usage is governed by the Public Financial Management and Accountability Act, 2015, and that it has a Human Resources and Administration Directorate, an in-house internal audit function, and procurement processes aligned with the Public Procurement and Disposal of Assets Act.
Uganda Capital Markets Authority 2026-01-23
Uganda Capital Markets Authority rejects purported staff open letter and denies social media allegations against its CEO
The Uganda Capital Markets Authority (CMA) clarified that social media articles alleging misconduct by its CEO are false and misleading, emphasizing that the claims have not been presented to management and that its policies are Board-approved and compliant with national regulations.