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H.E Ssekandi launches Prof. Suruma Book on Advancing Ugandan Economy
Published
11 years agoon
![[Front-Row]Assoc.Prof. Okello Ogwang welcoming H.E Edward Kiwanuka Ssekandi, Prof. Ezra Suruma and Mr. Edward Gaamuwa](https://news.mak.ac.ug/wp-content/uploads/2019/12/field_image_welcoming-suruma.jpg)
At the climax of the historic book launch held on Tuesday 23rd September 2014, the audience comprising people with different political ideologies, public, business and private sectors, development partners, the academia, students and the media applauded the author-Professor Ezra Sabiti Suruma for presenting to Ugandans and the world at large, a well written and researched political history and economic evolution of Uganda.
This audience that filled the renowned Makerere University Main Hall and Gallery to capacity was nothing short of spectacular. They upheld the author’s point of view that there was a strong correlation between political stability and the rate of economic growth. They agreed with the author that foreign aid would never lead to the development of Uganda; appreciated the author for reiterating the need to involve the communities in the implementation of the rural development strategy; thanked the author for giving direction on a reformed pension and social security sector; and together with the author wished for a well managed oil sector that would lead to job creation and prosperity for all.
In his book, Advancing the Ugandan Economy: A Personal Account published by Brookings Institution Press, Washington, D.C,2014, Professor Ezra Sabiti Suruma, an accomplished academician who served government diligently, highlights that it is because of the transformed political environment that Uganda has experienced stability and growth. He also shares very difficult times in Uganda’s history and the reforms that followed, identifies problems in various sectors and proposes viable solutions given his research background and wealth of experience. Professor Suruma remains optimistic that as the democratic environment evolves, Uganda will become more stable; and emphasizes that good governance is critical in a country’s social and economic transformation.
In his 197-page book, Professor Ezra Sabiti Suruma, a former Senior Lecturer of Economics at Makerere University; former Director of Research in Bank of Uganda; Minister of Finance from 2005 to 2009; and Senior Presidential Adviser on Finance and Planning in Uganda-not only provides an insider’s account of dramatic policy shifts in Uganda leading to stability and growth, but also expresses hope for a better Uganda. This distinguished son of Africa was also a visiting fellow at Brookings with the Africa Growth Initiative from 2010 to 2011.
In the foreword, Henry Krabbendam, a Professor Emeritus, Covenant College Georgia and Founder, Africa Christian Training Institute-Uganda states that the book gives Professor Suruma’s account of the remarkable policy changes that occurred in Uganda from 1986-2012 as well as his vision for the future of his country. He notes that the primary purpose of the book is to demonstrate that African countries can achieve economic stability and sustain rapid growth when they meet at least two interdependent conditions. He however emphasizes that they must establish a stable and secure political framework, rooted in moral integrity, as well as unleash the entrepreneurialism of the populace, facilitated by a free and democratic society.
Focusing on a better Uganda, the hopeful Professor Ezra Sabiti Suruma, a respected economist and academician who served the government diligently decries the growing unemployment levels, but envisions Uganda at full employment. His philosophy of full employment is premised on a well managed oil sector and its correlation with job creation and socio-economic transformation.
“…I continue to believe that the country cannot and should not try to sweep the problem of unemployment under the carpet. With the impending oil wealth, I believe that the country really can afford to pursue full employment. Uganda needs to address the needs of its expanding youth population for adequate housing and decent jobs,” further reads the extract on page 194.
Officiating at the launch of this admirably well-written and researched book, the Vice President of the Republic of Uganda, H.E Edward Kiwanuka Ssekandi congratulated Prof. Ezra Sabiti Suruma upon extending the boundaries of knowledge in economics and politics, and equally commended him for not only awakening Ugandans to social, political and economic issues of our time but also providing solutions these problems.
“I have the pleasure to officially launch Prof. Ezra Sabiti Suruma’s book-Advancing the Ugandan Economy: A Personal Account. I commend it to all Ugandans as a prescription that will save Uganda and take it to greater heights,” said the Vice President of Uganda, H.E Edward Kiwanuka Ssekandi amidst applause from a captivated audience.
At the memorable book launch Pastor Laban Jjumba who was invited to say a prayer thanked the Almighty God for blessing the author with the gift of life and wisdom. He also gave God the glory for His Servant’s book launch as hosted by Makerere University.
In the same spirit, the Vice Chair, Uganda Debt Network, Ms. Christine Nantongo said that the organisation was proud to be associated with the Prof. Suruma’s publication. “We are aware of the compelling content in this publication and its potential to contribute to Uganda and Africa’s social and economic transformation.”
The Acting Vice Chancellor of Makerere University, Associate Professor Ernest Okello Ogwang welcomed the audience to Makerere University and commended them for filling up the Main Hall and the Gallery to capacity as Professor Ezra Sabiti Suruma, a distinguished leader and a former Senior Lecturer of Economics at Makerere University (1973-75 and 1979-81) launched his publication.
“Makerere University is indeed proud that you chose this Hall as the venue for the launch of your book Advancing the Ugandan Economy – A Personal Account for if its walls would speak, it would tell many a tale. We are also proud that the narrative of this book had its origins in Makerere University, during your tenure as Senior Lecturer at Makerere University. We warmly congratulate you and take great pride in your achievement, and commend you for literally bringing it home,” remarked Associate Prof. Okello Ogwang.
Assoc. Prof. Okello Ogwang, Deputy Vice Chancellor (Academic Affairs)represented the Vice Chancellor.
He applauded the author, Professor Ezra Sabiti Suruma (an insider) for taking a bold step to dedicate time and resources to share with Ugandans and the world at large an insider’s account of dramatic policy shifts in Uganda that led to stability. He then encouraged other insiders who were in attendance to share their own accounts with Ugandans and the world at large.
The Ag. Vice Chancellor also thanked the discussants namely Hon. Dr. Mary Mugyenyi, Gen. Salim Saleh Akandwanaho, Mr. Andrew Rugasira, Hon. Nandala Mafabi, and Mr. Edward Gaamuwa for accepting to be part of the intellectual discourse so that the current political and economic reforms in the quest for economic independence seek to build upon the demands in an interrelated, interconnected and global environment.
At 2:30pm, the author- Professor Ezra Sabiti Suruma took to the podium to address eagerly expectant audience comprising several dignitaries, Senior citizens, Ministers, Members of Parliament, intellectuals – both young and old, students and the media.
“The Financial Sector Reform: Negotiating with the Bretton Woods Institutions, I believe is one of the most interesting chapters for students and professors. As the Vice Chancellor said, I am speaking from firsthand experience,” remarked Prof. Suruma in reference to chapter nine of his book.
With nostalgia, Prof. Suruma thanked Makerere University for welcoming him, and allowing him to launch his book, in the very institution where the journey started in 1979 when he was Senior Lecturer in the then Department of Economics. He informed the audience that the organizers had proposed to launch his book in a different location, but by God’s providence, he was equally happy that they were all gathered in the Makerere University Main Hall.
Prof. Ezra Sabiti Suruma
Recalling their boldness and how their decision to form a 3rd force impacted on the transformation of Uganda, Professor Suruma advised the youths and students to remain focused and determined.
“Then we were young people and a laughing stock. People said that they had dominant political parties, and that we as young people could not do anything. One of the main points, I want to put forward is that when we entered politics, we were responding to a difficult environment. Although they considered us hopeless, we had remarkable achievements. I encourage you, young people to know that ideas are powerful,” he said.
The author pointed out that he escaped death narrowly when soldiers came looking for him, but surprisingly a voice responded that he was not in the area, and by God’s grace the soldiers did not bother to check. Professor Suruma will remain eternally grateful to the person who chose to inform the soldiers that he was not in the area, although the person has never revealed his identity to date.
“To the young people, If God determines that you will live, you will live. Do not fear to organize,” he emphasized amidst applause from the audience.
In his hypothesis, it is because of the transformed political environment that Uganda has experienced stability and growth. In the last 27 years, the country has been going forward because there is a remarkable correlation between the type of government and the rate of economic growth. Although the history of economic growth is attributed to macro-economic principles, Professor Suruma argues that more attention should be given to political stability. The transformation in political stability made it possible to pursue major financial reforms in Uganda.
“Looking at the data on page 22, with Uganda’s economic growth rate rising to 3.6%, there is no doubt in my mind that the increase in economic growth is correlated with good governance,” he emphasized.
Being a key figure in the economic and political transformation of Uganda, Professor Suruma is delighted with the reforms that resulted into the liberalization of the foreign exchange sector. He also encountered serious challenges during his tenure at Bank of Uganda including lack of capacity and accountability as well as independence of the Central Bank and the Ministry of Finance. He also shared a scenario where some key government officials wondered why the Bank of Uganda would require a budget! Professor Suruma is equally glad that they took bold decisions that resulted into a reformed banking sector and an independent Bank of Uganda.
He highlighted the struggle for the Uganda Commercial Bank. He referred to it as a bank without money, with the most pressing problem being illiquidity of the bank. Realising that the people would deposit money, but encountered a lot of difficulty in withdrawing, Professor Suruma considered the problem and tried to find out where the money was going.
“I found out that branch managers were lending independently of the centre. Top managers did not know what the branch managers were doing, the latter were practically autonomous. Worse still, the branch managers were lending money but not recovering much of it. That was the ultimate source of the disaster, “he said.
Professor Suruma made an incredible decision, and the bank was liquid within a week, a milestone that his colleagues referred to as the “Suruma Effect.” Listening to his presentation, it was crystal clear that Professor Suruma who had ensured that the Uganda Commercial Bank was profitable as of 1996, did not support the World Bank position of privatizing the bank, but he later realized that he could not win.
The author received around of applause from the audience when he pointed out that the pension and social security reforms are a societal obligation. “I appeal to our citizens to struggle for a time when every Ugandan citizen will afford basic needs and be respected regardless of their economic status,” he said.
In his book, the optimistic Professor Suruma tackles the promising oil sector and its effect on job creation and the social and economic wellbeing of Ugandans. “Chapter 21: Job Creation and Housing Demand in Uganda-An Innovative Synergy is my small contribution to the debate on creating employment,” remarked the author.
The author dedicated the book to his father, Sulumani Barilanwa who made sure that he went to school-even though their village had no school to go to; his mother Esiteri Keiganiza whose unflinching disciplinary rigor set him on the straight path toward good; and to the martyrs and fighters for human freedom and justice everywhere.
To the Vice Chancellor of Makerere University, Professor John Ddumba-Ssentamu who was out of the country on official duty, the author, Professor Ezra Sabiti Suruma presented an autographed complimentary book with a special message.
“ To Prof. and Vice Chancellor, Dr. Ddumba Ssentamu, in remembrance of our time together at Makerere University, 1979 -1981.Thank you for your friendship.”
Discussants:
Hon. Mary Mugyenyi, Patron, Joshua Mugyenyi Foundation said that she could identify with what the author had written especially the history and economics of this country. She however pointed out that although decentralization had taken services to the people, it had shortfalls which should be addressed. She also observed that privatization though good had shortfalls such as the prioritization of foreign firms over local ones. She also noted although SACCOs are good, there is an urgent need to regulate them so as to guarantee the safety of their members’ savings. She emphasized that corruption in Uganda is not caused by poverty and appealed to Makerere University to conduct an informed study on who is corrupt and why they are corrupt.
Gen. Salim Saleh Akandwanaho, Presidential Advisor on Security, and formerly, Minister of State for Microfinance thanked the author for according
him the honour of discussing his rural development strategy and its impact on Uganda, which he; Gen. Salim Saleh has been implementing as a loyal officer. He noted that community information systems and access to finances were crucial in advancing the rural development strategy and also saluted H.E President Yoweri Kaguta Museveni for re-enforcing the military in the rural development strategy. Gen. Salim Saleh appreciated the title of the book, especially its faith in the future. He nevertheless drew applause from the audience when he emphasized that his dealings in the privatization of the Uganda Commercial Bank were only influenced by the desire to “Ugandanise” the bank. He asked that authors to publish more books on the economy, politics, and environment so that Uganda continues to move forward.
Mr. Edward Gaamuwa, Chief Executive Director-ACLAIM Africa Limited.
Mr. Edward Gaamuwa, Chief Executive Director-ACLAIM Africa Limited congratulated Dr. Suruma for his incisive and sometimes blunt book and for being bold to call a spade a spade. He appreciated the author for pointing out that Ministers and people in high places had succumbed to corruption. He however disagreed with the author that corruption was a result of income insecurity but was rather convinced that corruption is a result of greed. The discussant decried the “short termism” in managing pension funds and emphasized the need for a long term approach. He added that social security is not a luxury, but a key factor in sustainable development.
Hon. Nandala Mafabi, formerly Leader of Opposition in Parliament reminded the audience that during his tenure, privatization had indeed put the President and Parliament on a collision course as Dr. Suruma correctly pointed out in his book on page 73. Hon. Nandala recalled that he moved the motion in the House not to Hon. Nandala Mafabi, former Chair, Public Accounts Committee.
Mr. Andrew Rugasira, Chief Executive Officer, Good African Coffee Ltd appealed to the youth and students to read the book and fashion their ideologies around it. He detested the high rate of borrowing and its adverse effects on investment and development. He noted that access to capital was a major problem whereby young people have ideas, but very few have access to capital. He stressed that our hope in economic transformation was within our midst, and further encouraged young people to come up with innovative strategies.
Mr. Andrew Rugasira,Chief Executive Officer, Good African Coffee Ltd
Wrapping up, Professor Suruma thanked the congregation for sparing their valuable time to participate in the book launch. “I have been humbled by your presence and contributions.”
Professor Augustus Nuwagaba, who moderated the discussion, thanked Makerere University for producing Professor Suruma – a wonderful son of Africa. He equally congratulated the Vice Chancellor and staff of Makerere University for producing products that can effect change the world over.
The Uganda Debt Network, which envisions a prosperous Uganda with sustainable, equitable development and high quality of life of the people, sponsored the book launch.
Written by: Ritah Namisango, Makerere University
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Mak Endowment Fund 3rd Board of Trustees Inaugurated
Published
55 minutes agoon
October 23, 2025By
Eve Nakyanzi
The 3rd Board of Trustees of the Makerere University Endowment Fund (MakEF) has been officially inaugurated in a ceremony presided over by Mrs. Lorna Magara, Chairperson of the University Council on 23rd October 2025, and moderated by the Secretary to the Board, Mr. Emmanuel Kitamirike
In her address, Mrs. Magara commended the outgoing board, led by Dr. Margaret J. Kigozi, for their remarkable stewardship that saw the Fund grow from UGX 8.66 billion in 2021 to UGX 14.54 billion in 2025. She underscored the Endowment Fund’s vital role in ensuring the University’s financial sustainability amidst fluctuating public funding, reaffirming the Council’s commitment to providing policy and institutional support. Mrs. Magara further urged the incoming Board to uphold transparency, strengthen alumni engagement, and pursue innovative investment strategies to expand the Fund’s impact as Makerere continues to build for the future.

Board composition
The newly inaugurated 3rd Board of Trustees (2025–2029) brings together a team of distinguished professionals whose expertise spans business, academia, finance, governance, and social advocacy. Notably, some members have been reappointed in recognition of their exceptional service and contribution to the Fund’s growth during the previous term. The Board is chaired by Dr. Margaret J. Kigozi, a seasoned business leader and former Executive Director of the Uganda Investment Authority (UIA). She is joined by accomplished members including Ms. Jennifer Mwijukye, CEO and founder of Unifreight Cargo Handling Limited; Mr. Ninsiima John Chris, Director of Programmes at NUDIPU and member of the Makerere University Council; Mr. Kenneth Mugambe, former Director of Budget at the Ministry of Finance; Prof. Buyinza Mukadasi, Makerere University’s Academic Registrar and Professor of Forestry Resource Economics; and Mr. Sam Ayesiga, a governance and investment expert with vast experience across Africa. Their diverse backgrounds and renewed commitment are expected to steer the Fund toward even greater stability, innovation, and impact in the years ahead.
Representing the Vice Chancellor, Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the outgoing Board of Trustees of the Makerere University Endowment Fund for their exceptional service marked by growth, innovation, and accountability. She noted that the growth of the fund to UGX 14 billion is a clear testament to strategic vision, prudent management, and confidence in Makerere University’s long-term sustainability. Prof. Ssali praised the Board for initiatives that have united thousands of alumni, staff, and partners, notably through the Makerere Run, which has supported disability inclusion and empowerment.

She also recognized the introduction of the MakAdvance digital platform as a milestone in promoting efficiency and transparency. She welcomed the incoming Board, and challenged the new team to grow the Fund beyond UGX 25 billion through deeper engagement, innovative fundraising, and stronger partnerships. She reaffirmed Management’s commitment to supporting the Fund within robust governance frameworks that inspire stakeholder confidence, emphasizing the shared vision of building a financially resilient Makerere University.
During the handover ceremony, Dr. Margaret J. Kigozi, the Chairperson, reflected on the remarkable progress achieved under the 2021–2025 term, noting the Fund’s growth from UGX 8.66 billion to UGX 14.54 billion — a 68% increase despite global economic challenges. She highlighted key milestones including the institutionalization of the Makerere Run, establishment of the Makerere Gift and Souvenir Shop, launch of The Legacy e-newsletter, and the creation of the Jawaher Fund for the Advancement of Women’s Education, supported by NAMA Establishment in the UAE. Dr. Kigozi expressed gratitude to the outgoing Trustees and reaffirmed her commitment, alongside the new Board, to advance transformative projects such as the construction of the Makerere University Students’ Centre and development of the Makindye land. She emphasized that the Fund’s goal remains to build a financially sustainable Makerere University capable of supporting innovation, research, and academic excellence for generations to come.

At the inauguration, the Deputy Vice Chancellor in charge of Finance and Administration, Prof. Winston Tumps Ireeta underscored the Fund’s central role in ensuring Makerere’s financial sustainability and institutional legacy. He described the Endowment Fund as a cornerstone of the University’s vision—an instrument through which Makerere secures its future, strengthens its independence, and sustains strategic investments in teaching, research, and innovation. He extended heartfelt appreciation to the outgoing Board, chaired by Dr. Margaret J. Kigozi, for their dedicated service and strong leadership that fortified the Fund’s governance, fundraising, and asset management.
Welcoming the new Board, he congratulated the members on their appointment and urged them to continue expanding and mobilizing resources with integrity and innovation. He reaffirmed his office’s commitment to providing administrative and financial support to ensure that the Fund thrives beyond annual budgetary constraints, contributing meaningfully to Makerere’s vision of becoming a research-led, financially resilient, and globally respected institution.
The Makerere University Endowment Fund (MakEF) was established to secure the University’s financial sustainability by mobilizing, investing, and managing resources to support its core functions of teaching, research, and innovation. Originating from donations made as early as the 1930s, the Fund has evolved into a strategic vehicle that aims to reduce dependence on public funding. It is governed by a Board of Trustees appointed by the University Council, responsible for overseeing investments and resource mobilization. Through initiatives like alumni engagement, digital giving, and events such as the Makerere Run, the Fund continues to grow and strengthen Makerere’s vision of being a research-led and financially resilient institution.
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First Deputy Vice Chancellor Prof. Sarah Ssali courtesy visit to MakPress
Published
2 days agoon
October 21, 2025By
Eve Nakyanzi
As part of her efforts to familiarize herself with the offices under her docket, the newly appointed First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali, has embarked on a series of visits to different units that report to her office. One of these is the Makerere University Press (MakPress), which she visited today on 21st of October 2025, on a courtesy call. She was received by the Managing Editor for MakPress, Dr. William Tayeebwa, a Senior Lecturer in the Department of Journalism and Communication at the College of Humanities and Social Sciences. Previously, MakPress operated jointly with the Directorate of Graduate Training (DGT) and the Directorate of Research, Innovations and Partnerships (DRIP) before becoming a standalone entity. Accompanying Prof. Ssali on this visit were Prof. Julius Kikooma, the Director of DGT, and Mr. Mathias Ssemanda, the Acting Manager of the International Relations Office.

During her visit to MakPress, Prof. Sarah Ssali commended the Unit for its progress and partnerships while emphasizing the need to strengthen collaboration with key institutions such as the National Curriculum Development Centre (NCDC), the Ministry of Education and Sports, and other universities. She encouraged the Press to explore practical working models, including leveraging external expertise and streamlining its printing processes to enhance efficiency. Prof. Ssali also highlighted the importance of safeguarding intellectual property, ensuring fair contractual terms with partners, and maintaining transparency in publishing agreements. She advised that Makerere University Press should position itself strategically by producing high-quality academic materials that serve both national and international audiences. Additionally, she urged the team to adopt a more consistent publication schedule—launching books quarterly or biannually—and to organize events where authors can engage directly with readers, scholars, and policymakers. Prof. Ssali reaffirmed the administration’s support toward building a stronger, more vibrant university press that effectively contributes to research dissemination, academic dialogue, and national development.

During the courtesy visit, Dr. William Tayeebwa highlighted the milestones and ongoing projects at the Press. He spoke about the growing partnerships with institutions such as the University of Chicago Press, the University of California Press, and the African Books Collective, which have enhanced both local and international visibility of Makerere’s publications. “Why make a university press when you have Makerere University Press”, Dr. Tayeebwa said urging public universities to utilize MakPress. Dr. Tayeebwa also shared that the Press has republished several titles, launched new book projects, and developed a digital platform that enables readers to access and purchase books online. However, he pointed out a number of challenges affecting the Press’s operations, including inadequate funding, limited printing capacity at the university printery, and delays that often affect the timely release of publications. He further noted the difficulty of accessing generated funds due to bureaucratic procedures, space and infrastructure limitations, and the continued confusion between the roles of the Press and the printery. Despite these challenges, Dr. Tayeebwa reaffirmed the commitment of his team to strengthen Makerere University Press as a central pillar in advancing research dissemination and academic publishing.

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MURBS celebrates growth in FY2024/25 performance
Published
2 days agoon
October 21, 2025By
Eve Nakyanzi
Makerere University Retirement Benefit Scheme (MURBS) has presented its performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders on 21st of October in the Telepresence Centre, Senate building. MURBS which is a Mandatory Employer-Based Scheme was established by Makerere University under an irrevocable trust effective 1st April 2009 to provide retirement benefits to employees of Makerere University.
Council applauds MURBS Performance
In her remarks at the presentation, the Chairperson of the University Council, Mrs. Lorna Magara, commended the Scheme’s steady progress and reaffirmed the Council’s commitment to safeguarding staff welfare. She noted that MURBS has grown into a trusted, transparent, and professionally managed scheme that continues to strengthen confidence among staff. Mrs. Magara praised the Board of Trustees for their prudent management and governance, describing their work as not merely financial stewardship but the protection of the hopes and futures of Makerere families. She urged continued focus on member education, digital service delivery, and sustainable fund growth, emphasizing that the ultimate goal is to build a lasting legacy of trust and financial wellbeing for all university employees.

MURBS demonstrates liquidity and resilience amid a volatile economy
Representing the Vice Chancellor, the Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the Makerere University Retirement Benefits Scheme (MURBS) for its continued growth, accountability, and prudent management. She applauded the Scheme’s record fund value of UGX 475 billion and its unqualified audit opinion from KPMG, describing these milestones as clear evidence of transparency and sound governance. Prof. Ssali reaffirmed Makerere University’s full commitment as the Scheme’s sponsor, noting the progress made in clearing historical arrears and supporting MURBS operations. She praised the Board’s disciplined investment strategy—particularly its diversification into unit trusts and near-cash assets—which has enhanced liquidity and resilience amid a volatile economy. Highlighting MURBS as a model of good governance and accountability, Prof. Ssali emphasized that a reliable retirement scheme not only secures staff futures but also strengthens motivation, productivity, and institutional excellence.

Embrace digital transformation – URBRA urges
From Uganda Retirement Benefits Regulatory Authority (URBRA), the Manager Market Conduct, Mr. Mark Lotukei commended MURBS for its continued commitment to compliance, member education, and sectoral excellence. He highlighted that the Authority has been focusing its trainings on strengthening trustees’ capacity, with recent sessions covering strategic tax planning to help schemes minimize liabilities and safeguard members’ funds. Mr. Lotukei further announced upcoming trainings on benefits administration, stakeholder roles, and the contribution of pension funds to infrastructure and economic development. Emphasizing the evolving nature of the pension landscape, he urged trustees to embrace digital transformation, improve communication with members, and promote sustainable and innovative investment strategies. He concluded by reaffirming URBRA’s commitment to supporting MURBS and other schemes, assuring stakeholders of the Authority’s openness to continued collaboration and guidance.

Fund Value Hits Record UGX 475 billion
In his presentation on the performance, the Chairperson of the Board of Trustees, Dr. Michael Kizito, highlighted the Scheme’s continued growth, prudent financial management, and commitment to transparency. He reported that MURBS’ total assets had risen to UGX 475 billion, up from UGX 409 billion the previous year, reflecting strong investment performance and effective governance. Dr. Kizito commended the University management for timely remittances and reaffirmed the Board’s focus on sound risk management, diversification, and member satisfaction. He acknowledged the dedication of the trustees, staff, and service providers, noting that their collective effort has positioned MURBS for sustainable success. Looking ahead, he emphasized the Scheme’s intention to strengthen alternative investments and optimize operations to deliver even greater value to members and stakeholders.

The presentation of the performance of the scheme is one of the activities leading to the Annual General Meeting and it is done to management and the Sponsor of MURBS. The presentation, which attracted several key stakeholders including members of the University Council and representatives from Stanbic Bank and Old Mutual, concluded with an engaging question-and-answer session moderated by Dr. Deus Kamunyu Muhwezi. The session provided an opportunity for participants to seek clarity on the Scheme’s performance, governance practices, and investment strategies, fostering transparency and open dialogue between the MURBS leadership and its partners. MURBS is licensed by the Uganda Retirement Benefits Regulatory Authority (License No. RBS.0005).
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