Bagonza granted sh20m cash bail in money laundering case
In a ruling dated October 14, 2026, the Anti-Corruption Division of the High Court judge Jane Okuo Kajuga stated that Bagonza's sureties were substantial and that the circumstances of the case favoured his release.
As part of the bail conditions, Kajuga ordered Bagonza not to travel outside the court's jurisdiction without prior permission. (File photo)
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Mathew Bagonza, the head of the Presidential Advisory Committee on Export and Industrial Development (PACEID) secretariat, has been granted cash bail of sh20 million, as he battles charges of abuse of office and money laundering.
In a ruling dated October 14, 2026, the Anti-Corruption Division of the High Court judge Jane Okuo Kajuga stated that Bagonza's sureties were substantial and that the circumstances of the case favoured his release.
The judge noted that Bagonza had not yet been committed to the High Court for trial, as investigations remained ongoing, with no clear indication of when they would be concluded.
As part of the bail conditions, Kajuga ordered Bagonza not to travel outside the court's jurisdiction without prior permission. He was also directed to deposit his passport with the court registrar until the case is disposed of or the court orders otherwise.
The judge further ordered Bagonza to deposit certificates of title registered in his name and that of his wife, Elizabeth Namutebi, with the registrar as additional security.
He is also required to report to the registrar on dates set for the mention or hearing of the main case.
Sureties
The five sureties were directed to execute non-cash bonds of sh30 million each.
In her ruling, Kajuga noted that the prosecution had not challenged the sureties’ places of residence or provided evidence that they lacked the financial capacity to meet the bond obligations imposed by the court.
The judge acknowledged that Bagonza’s mother had not been financially profiled but said sureties of varying financial strength could provide an effective safeguard to ensure compliance with bail conditions.
She observed that a surety could have considerable influence over an accused person even without a strong financial profile.
“It would be more meaningful not to lose such a surety altogether, especially when others qualify on all levels of compellability and capacity to pay bond."
Regarding the two legislators among the sureties, the judge said they were responsible persons and dismissed the argument by the prosecution that their official duties would prevent them from fulfilling their obligations. She noted that serving as a surety was not a full-time job.
No evidence of interference
The judge also considered Bagonza’s personal circumstances, noting that he had no criminal record and was law-abiding.
She said the prosecution had not disputed the position or presented evidence that Bagonza had previously been released on bail or bond and breached the conditions.
“I am unable therefore to rely on the prosecutions’ fears as a basis for denial of bail,” she ruled.
The case
Bagonza faces charges of abuse of office, contrary to Section 10(1) of the Anti-Corruption Act, and money laundering, contrary to Sections 3(a), 119 and 139(10)(a) of the Anti-Money Laundering Act.
Upon conviction, money laundering attracts a maximum sentence of 15 years’ imprisonment, while abuse of office carries a maximum seven-year jail term.
Prosecution alleges that in January 2024, while serving as head of the PACEID secretariat under the Office of the President, Bagonza abused his authority by irregularly registering and incorporating PACEID as a private limited company.
According to prosecution, the company had objectives similar to those of his employer, an act allegedly prejudicial to the interests of the Government of Uganda.
On the money laundering charge, prosecution alleges that Bagonza and others still at large, between September 1, 2023, and August 30, 2026, transferred sh171.7 million from an account at Housing Finance Bank’s Kololo branch to his personal account at the same bank.
Prosecution states that the funds were transferred from account number 1100273525, opened in the names of “Office of the President-Presidential Initiative on Export and Industrial Development,” to Bagonza’s personal account number 1100278763.
According to the prosecution, the transactions were intended to conceal or disguise the alleged illicit origin of the funds, which Bagonza allegedly knew or had reason to believe were proceeds of crime.