General
MURBS Seminar provokes Staff Entrepreneurial Spirit
“Retirement goes beyond simply choosing a date to retire” were some of the words of wisdom that echoed across the Makerere University Main Hall during the second retirement planning sensitization seminar. As part of its Member Education series, the Makerere University Retirement Benefits Scheme (MURBS) held the seminar on Tuesday 18th March 2014, organized as a way of helping members devise the best plan for their retirement. The MURBS Board of Trustees (BoT) lined up a panel of speakers namely; Mr. Fulgence Mungereza, Mrs. Edna Rugumayo and Mr. Kaka Sudesh, with the promise to tickle, excite and educate.
Welcoming scheme and BoT Members present to the seminar, the Secretary BoT, MURBS, Dr. John Kitayimbwa emphasized the need to have a panel representative of at least three age groups so as to best cater for all Members, the target range being 20 to 70 years. In her opening remarks, the Chairperson, BoT, MURBS Hajjati Fatumah Nakatudde encouraged the audience to always reflect on retirement as a time enjoy the benefits of their hard work and hence prepare adequately for it.
“I encourage each and every one of us here to always seriously; assess your readiness to retire, identify actions to improve your readiness to retire, acquire adequate financial planning knowledge and most importantly develop a saving culture for your retirement,” counseled Hajjati Fatumah Nakatudde.
The first panelist at the seminar Mr. Fulgence Mungereza, a partner with Mungereza and Kariisa, a certified public accounts firm, thanked Members for taking time to attend the event, noting that eminent people especially those employed by Makerere ought to start preparing for retirement as early as the first day at work. “Planning and saving starts now,” emphasized Mr. Mungereza, further noting that “Few retirees live comfortably afterwards, with some being entirely devastated as retirement seems to catch them by surprise!”
He noted the dangers of overdependence on salaries and encouraged the audience to always devise means of securing a side income. Mr. Mungereza who delivered his presentation in a matter-of-factly way then challenged the members especially Men to always consider their partners when making investment decisions. “Working secretly is dangerous! The first partner is your wife,” he wisely counseled.
Mr. Mungereza encouraged the audience to adopt a saving culture, noting that it is not about the amount but the habit “wealth is a function of savings not earnings,” he elaborated. He cautioned members to always review the status of their assets so as to ascertain what to do with them. “Get out of bad debt. Do not borrow a “Cheap debt”; for the sake of servicing expenses.” He instead advised that members should adopt measures like mortgaging their property for the sake of garnering investment capital. Mr. Mungereza concluded by urging all members to write their wills so as to keep their hard-earned money within the family. He commended the audience for investing in quality education for their children but warned against depending on them for their retirement. “Children are a good investment but they may ignore you in your latter years,” he said.
Mrs. Edna Rugumayo, also a Certified Public Accountant (CPA) and the ICPAU-nominated MURBS BoT Member then gave her contribution on preparing for retirement as the second panelist of the day. An alumna from the School of Statistics and Applied Economics, Makerere University, Mrs. Rugumayo advised the audience against regarding retirement from Makerere as the complete cessation of active employment. Using her own example as a recent retiree, she noted that we were enjoying a higher standard of living than our forefathers and hence living longer, a factor that necessitated us to carefully plan for retirement. “Planning for retirement is planning for life,” she aptly stated.
Regarding the need to ensure that members lived a well-balanced life, Mrs. Rugumayo offered a few words of wisdom to the younger crop of MURBS members, who unfortunately were sparsely represented in the audience. “Do not wait to marry late, for in so doing, all your problems will be delayed.” She encouraged all present to keep on improving their qualifications so as to avoid going into obsolescence. Recognizing the need to set goals in all aspects of life including one’s income and expenses, Mrs. Rugumayo advised that every goal should be accompanied by a plan or else it would simply remain a wish. “Set long-term goals for your life and then set short-term goals on how to get there [incrementally]. Do not be disappointed when you fall short of your goals but instead have a personal change management plan to help you adjust accordingly,” counseled Mrs. Edna Rugumayo.
She also observed that personal financial planning is an aspect that is closely linked with our lifestyles. In this regard, Mrs. Rugumayo recommended that saving ought to be thought of before spending, noting that saving can only work as a culture. “Draw up a personal saving plan and stick to it. Mandatory saving is good but insufficient because the benefits are received only at the end and will not save you in the event of an emergency,” she advised.
On the subject of where we ought to keep our savings, Mrs. Rugumayo summarily but with the wisdom of one very knowledgeable on the subject said, “At worst, save in the bank. Savings dwindle with time and in the long run, you are enriching the bank,” she pointedly noted. She instead advised members to consider tried and tested avenues like land banking which has been discovered to be lucrative saving vehicle in Uganda. She also advised members to consider investing in Government securities like bonds and treasury bills. And whereas the small business sector is regarded as the least capital intensive, the former Assistant Commissioner Finance at the Uganda Revenue Authority (URA) advised that Members should first seek to acquire specialized knowledge on the intricacies of their operations prior to investing in them.
In concluding her presentation, Mrs. Rugumayo noted that there is no one-size-fits-all solution for investment. She also advised that annuity; a fixed sum of money paid out by the Government to retirees each year, is not very well developed in Uganda and advised against totally relying on it.
The third and final panelist of the day and arguably the most energetic then took to the stage and encouraged members to get up and stretch before he could start his presentation. The 31 year old Business Coach and Keynote speaker who retired at only 24 then dared anyone to doze off during his presentation, as he walked to and fro the aisle in the Main Hall. The CEO at Sudesh International Consult Ltd and Graduate of Makerere University then launched into his presentation by defining that a business should be commercial, profitable and above all able to work without your presence.
As one who started doing business at only 10 years of age thanks to a well-established culture of business-minded parents and grandparents, Mr. Sudesh shared that he had lost it all so many times before but most importantly, had learned valuable lessons that continue shaping his business engagements to date. “The most important thing is to get and keep customers,” he shared as one of the lessons learned. He further noted that the principles of good business ought to come first and once mastered, can be applied across varying scenarios for they are more or less the same.
Mr. Sudesh by virtue of his profession meets a lot of business owners and practitioners. He noted that during one such engagement, he more than ever before learnt to respect the distinction between the two-sided nature of business; technical and managerial. He advised business owners and those intending to start to always identify their strength as either technical or managerial and then proceed to employ someone else to handle the side that they were less skilled at. In so doing, they would then be able to avoid stifling the business’ growth, “You cannot do it all. You need partners to carry your business beyond your own dreams,” he advised.
The best timing of when to go into business is a decision that beleaguers one too many. To this end, Mr. Sudesh advised members to always take the initiative to start now, as the conditions will never be 100% perfect. He however advised that once up and running, one ought to treasure their employees, “People matter the most. How you treat your team is the key to your success or failure.” In concluding his presentation Mr. Sudesh asked the audience to always ponder on the three questions; Are you [as a business owner/manager] seeing what is or what you hope for? Are you [as a business/product] remarkable or invisible? Are you [as a business/product] growing or dying?
At the conclusion of the presentations, the audience was given the opportunity to ask questions, which ranged from why one who has worked very hard all their lives should not just simply enjoy their savings, to how to purchase Government securities. In their responses the panelists and BoT Members advised the audience to always look at work as pleasure and even after retirement, to go into those business ventures that are fulfilling. MURBS Members also received advice from Prof. James Ntozi, Chair, Makerere University Pensioners Association (MUPA) to always be united in their demand for good retirement packages from both Makerere University and the Government.
At the conclusion of the seminar the Chairperson, BoT, MURBS Hajjati Fatumah Nakatudde thanked the panelists for their respective great deliveries and members for turning up to receive sound investment advice. She further encouraged members to increase their monthly savings to MURBS. “Mandatory savings currently being deducted are very small. Let us each try to make additional voluntary savings,” she said. The Secretary BoT, MURBS, Dr. John Kitayimbwa reiterated Hajjati Nakatudde’s appeal by sharing that “Last year, MURBS paid out 12.6% interest to members, which was above inflation and 1% more than what NSSF paid to its members.”
The next seminar in the series will feature the MURBS fund managers, who have expressed willingness to come and educate members on how to invest in equities and Government securities. Members are advised to come and attend these trainings to improve their knowledge on sound Financial investment.
Article and Pictures by Public Relations Office
General
Minister Janet Museveni Lays Foundation Stone for School of Graduate Studies Building, Commissions the School of Law Building and the renovated Lumumba Hall
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni, has laid the foundation stone for Makerere University’s School of Graduate Studies building, whose construction is now underway.
The Minister laid the foundation stone for the USD8 million project during a brief function held on Wednesday 18th December 2024 at the site opposite Makerere University’s Lumumba Hall. The event was attended by several dignitaries, including the State Minister for Primary Education, Hon. Joyce Moriku Kaducu, University Council Chairperson Mrs. Lorna Magara, and Makerere University Vice Chancellor, Professor Barnabas Nawangwe.
Others in attendance included Acting Deputy Vice Chancellor of Finance and Administration, Professor Henry Alinaitwe; Acting Deputy Vice Chancellor of Academic Affairs, Professor Buyinza Mukadasi; University Secretary Mr. Yusuf Kiranda; Dean of Students Winfred Kabumbuli; Guild President Vincent Lubega Nsamba; and the Vice Guild President, Joy Eve Serunjogi among others.
The building is a donation (in-kind) from the late Hasmukh Patel, an industrialist and former Chairman of Tororo Cement who passed away on August 29, 2024, after a short illness. The journey to this befitting donation to Makerere University started in December 2022, when Hasmukh Patel accompanied by some members of his family and friends visited the Vice Chancellor, Prof. Barnabas Nawangwe to declare his donation. From December 2022, a number of meetings were convened involving the Minister of Education and Sports, the University leadership, Mr. Hasmukh Patel, his family and Tororo Cement regarding this donation. Living true to his commitment during those meetings, his family and Tororo Cement are implementing his wishes to construct the building, which will house the School of Graduate Studies at Makerere University.
Before laying the foundation stone for the School of Graduate Studies building, Hon. Janet Museveni first unveiled a plaque to officially open the new building for the School of Law. She then headed to Lumumba Hall, where she unveiled another plaque marking the completion of its renovation.
The First Lady, who had initially laid the foundation stone for the School of Law building on May 17, 2022, returned to the main campus to officially open the completed structure. Funded by the Government of Uganda to the tune of UGX 7.3 billion, the new three-storeyed building features lecture rooms, tutorial and seminar rooms, a library, a moot court, offices, a cafeteria, a lactation room, and other teaching and learning facilities. Construction was undertaken by M/S CK Associates, with Symbion serving as a consultant.
The renovation works for Lumumba Hall commenced in June 2023, with the site handed over to the contractor, National Enterprise Corporation (NEC). Funded by the Government of Uganda to the tune of UGX 9 billion, the project involved extensive renovations to restore Lumumba Hall to its original splendor. Lumumba Hall now accommodates about 725 students.
Lumumba Hall was the first hall of residence to undergo renovation, followed by Mary Stuart Hall, which has also been handed over to NEC for refurbishment. These renovations, which began last year, are a result of the Government of Uganda’s efforts to improve the nine (9) halls of residence at the main campus.
Speaking at the event, Hon. Janet Museveni thanked the University Council and management for their dedication to rebuilding the institution. She expressed confidence that the physical restoration efforts would also rebuild the character of young people.
“There is a restoration of dignity that comes to an institution or a community when we choose to rebuild and it is not only physical, there is a spiritual restoration that comes as well. For Nehemiah, it was not just the rebuilding of a physical wall it was the rebuilding of broken lives and a broken covenant. It was the rolling away of the reproach they had suffered as a nation,” she said.
Adding; “I therefore salute the Council and the management of Makerere for your dedication to the rebuilding of this University. I am confident that as you rebuild physically, you are rebuilding the character of our young people. My prayer is that the physical restoration is translating into the spiritual restoration of this great institution.”
The first lady, Hon. Janet Museveni recalled her earlier visit to Makerere University, where she observed the dilapidated state of the halls of residence, which prompted her to initiate the renovation works.
“I remember taking a tour of the halls of residence in this University and Kyambogo University in the thick of the COVID-19 pandemic. My heart bled when I saw the state of the halls of residence. Like Nehemiah, I took my burden to the Lord and now see what the Lord has done! Commissioning of the refurbished Lumumba Hall today is a testament to the faithfulness of our God. It is even more gratifying to know that other projects are ongoing and these include: the renovation of Mary Stuart Hall, the construction of the Perimeter Wall, and improvements at the University Hospital, including setting up an operating theatre and ICU.” She said.
Hon. Janet Museveni also expressed gratitude to the Vice Chancellor, Prof. Barnabas Nawangwe, for his leadership, which facilitated the realization of the Tororo Cement project. “This Project would not have been possible without the guidance and leadership of the Vice Chancellor of Makerere University, Prof. Nawangwe, who drew my attention to this offer by Tororo Cement, and requested me to endorse this Project, which will be named after Mr. Hamukh Patel,” she said.
Adding: “I am informed that the construction of this building is estimated to cost 8 Million US dollars and will consist of: lecture and seminar rooms, smart classrooms, laboratories, an innovation space, a conference hall, offices and other facilities. We remain forever grateful for this donation, which will increase access and contribute to improving the quality of postgraduate education.”
Speaking at the event, Vice Chancellor Prof. Nawangwe commended Hon. Janet Museveni for prioritizing the development of Makerere University, which has seen remarkable progress under her leadership. “Hon. Minister, from the time you took over the Office of Minister of Education and Sports and the Higher Education Sector, Makerere University in particular has transformed tremendously. Most notable is the infrastructure revolution at Makerere. On several occasions, you have come to Makerere to lay the foundations for new buildings and to open completed buildings, including our iconic Main Administration Building,” he said.
“When you inspected the halls of residence in 2021, I could see the frustration in your eyes, looking at the dilapidated state the halls were in, especially Lumumba, part of which had been condemned for 2 years,” Prof. Nawangwe said.
“Hon. Minister, I am sure that today, after seeing the glamorous new building for the School of Law and the glittering renovated Lumumba Hall, you are in a completely different mood compared to that visit in 2021. We are as delighted as you must be and your efforts are the reason for our happiness today. Our law students and professors can now comfortably study, work and conduct research in the best building for any school of law that I have seen,” Prof Nawangwe added.
Reflecting on the Graduate School Building, Prof. Nawangwe recalled when he received a proposal from Mr. Hasmukh Patel in 2022 who had initially intended to donate the Main Administration Building, which had been destroyed by fire, but opted to donate School of Graduate Studies Building after finding that the main building reconstruction had already started.
“Hon. Minister, in the morning of 13th December 2022, a miracle happened in my office in the Frank Kalimuzo Building. General David Muhoozi and Major General Apollo Gowa walked into my office with the Late Hasmukh Patel. Gen. Muhoozi introduced Mr. Hasmukh Patel as the Chairman of Tororo Cement, who after learning about the destruction by a fire of our Main Administration Building, expressed the wish to reconstruct that iconic building. On reaching Makerere, Mr. Hasmukh Patel found a contractor already on site, and he told us, that he would all the same donate a building to Makerere University as a gift on our 100th anniversary,” Prof Nawangwe said.
“He said it in such a simple way, that I thought I was dreaming. That evening, at the invitation of Mr. Patel, I visited the building that Mr. Patel had built for a school at Bukoto and I told him that a similar building for Makerere would be just what we needed for our School of Graduate Studies and Research that we needed. The University Council unanimously voted to thank Mr. Patel for his magnanimous offer and, you, Maama Janet graciously endorsed the project. I later visited Mr. Patel in Mombasa and was amazed at the humanitarian work he was doing among the communities. He was such a rare human being,” Professor revealed.
“Today we are here to witness the laying of the foundation stone for this, the largest academic building at Makerere University, and the first such donation I know by an African philanthropist to a university in Africa. The building will have lecture and seminar rooms, a conference hall, innovation spaces, PhD student rooms, computer and other laboratories, a restaurant, staff offices and other facilities. I thank Tororo Cement and the family of the Late Hasmukh Patel for honoring his wish and I wish to assure Mr. Patel, who must be in heaven smiling at us, that we will honor his legacy in this building and that we will put the building to its best use in the service of humanity, which is what Mr. Patel lived for,” Prof Nawangwe added.
On her part, the state Minister for Primary Education, Honorable Joyce Moriku Kaducu acknowledged Hon. Janet Museveni for prioritizing the Education sector in her leadership, which has led to the tremendously development of the sector.
“On behalf of the education sector, we want to thank you as the mother of the nation, indeed you are a big gift and a blessing to the nation and education at large, all this achievement would not have been possible if it was not under your visionary leadership and the guidance you have offered,” Minister Kaducu said.
Hon. Kaducu also hailed Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model, which is intended to create wealth among citizens.
“As President Museveni is preaching the message of wealth creation, I want in a special way to thank Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model (PDM), and they have a committee that monitors and informs government. They are indeed part of the team promoting wealth creation in this country,” she said.
Mrs. Lorna Magara, the Chairperson of the Makerere University Council said that the construction of the Graduate studies building speaks to the University’s mission of being a research-led institution because it comes as a dedicated building to house the Directorate of Research and Graduate Training, which marks the resolution of a critical gap in our institutional framework
“At the heart of Makerere University’s current strategy is the promotion of a research-led institution, with a strong focus on graduate training. The establishment of a dedicated facility for the School of Graduate Studies, which also houses the Directorate of Research and Graduate Training, marks the resolution of a critical gap in our institutional framework. The late Patel’s timely and generous contribution will undoubtedly advance graduate training and research for generations to come. We extend our heartfelt gratitude for your exceptional support,” she said.
Mr. Manish Varsani who represented the Patel family took the first lady through how Mr. Hasmukh Patel started the idea of donating the building to Makerere. He explained that, Mr. Patel intended to present a gift that was coming from the bottom of his heart, and he teamed up with General Muhoozi who led him to Prof. Nawangwe’s office.
He also recalled when Mr. Patel met H.E President Yoweri Kaguta Museveni Museveni in Bukoto where he (Patel) had donated a building to a school and told the President that he would want to donate the same building to Makerere University as a gift to the First Lady Janet Museveni because he loved her so much, and in response, the President said he would take the message back to the First Lady.
The Guild President Lubega Vincent Nsamba asked the First Lady to consider constructing another hall of residence for the female students to solve what he described as an accommodation imbalance.
“Maama Janet Museveni, allow me to report to you that we still have only three halls of residence gazetted for female students against the six halls of residence gazetted for male students. These halls of residences were built back in colonial and independent times when the female students were fewer compared to their male counterparts, and to me Maama, this accommodation imbalance is something that should be addressed,” he stated.
“To me Maama, this speaks to the sense of how there is a dire need to invest in another additional hall of residence for the girl child here at Makerere University, and Maama, without any fear of contradiction, we humbly request that you consider building an additional hall of residence named after you in recognition of the contribution and honor of the service you have made for this country as a mother and as an educator,” he said.
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