Kavuma is the former programme manager of the defunct UTV station, now UBC.
Justice Amos Twinomujuni released Kavuma on Friday after a cash payment of sh20m.
Kavumaâ€™s two sureties committed themselves to a bond of sh20m each (not cash), which they would forfeit if Kavuma jumped the bail.
The court also ordered that Kavumaâ€™s passport remains in the custody of the High Court until the determination of his appeal.
Kavuma will report to the Court of Appeal registrar on every second Friday of each month.
Kavuma was convicted and sentenced to five yearsâ€™ imprisonment for of stealing sh41.9m from Global Fund.
Global Fund suspect gets bail