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MURBS declares Market-high Rate of Return for 2nd year running

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At the Fourth Annual General Meeting (AGM) of the Makerere University Retirement Benefits Scheme (MURBS) held on 18th December 2014, the Secretary-Board of Trustees (BoT), Dr. John Kitayimbwa declared at 12% yet another market-high rate of return for the Staff Scheme as compared to similar schemes like NSSF which declared 11%. The rate of return is used by schemes and corporations to measure the profit on any investments they have made over a period of time; and in the case of MURBS, in respect of the year ended 30th June 2014.

In his introductory remarks given at the Fourth AGM held in the College of Engineering Design Art and Technology (CEDAT) Conference Hall, Dr. Kitayimbwa lauded the BoT, MURBS Administrator-Liaison Financial Services as well as Fund Managers PineBridge Investments and StanLib for a job well done. He thanked officials from the Uganda Retirement Benefits Regulatory Authority (URBRA) for taking time off to attend the AGM. URBRA is the regulatory authority in charge of managing the operations of retirement benefit schemes in Uganda and was represented at the 4th AGM by the CEO-Mr. Moses Bekabye, Legal Services Manager-Ms. Rita Nansasi and Ms. Janet Iremera.

Members listen attentively to the proceedings of the 4th MURBS AGM, 18th December 2014, CEDAT, Makerere University,In her report, the MURBS Chairperson Hajati Fatumah Nakatudde was happy to note that MURBS is a fully licensed retirement benefits scheme in accordance with URBRA with eight out of nine Trustees licensed by the regulator. She noted that the gains made by MURBS were buoyed by the favourable investment climate as Uganda registered a positive growth of 4.7% driven mainly by Government expenditure on infrastructure. As a result, MURBS made a gross income of UGX 6.7billion and a net income of UGX 4.5billion. She further reported that the scheme paid out over UGX 2.4billion in benefits.

The Chairperson however noted that the scheme continues to experience challenges in the form of unremitted contributions from the employer amounting to UGX 3.94billion for the period November 2013 to June 2014. “As such it has been impossible to award interest on contributions received during the course of the year on a time-weighted basis” said the Chairperson.

MURBS Legal Counsel-Prof. Jean Barya updated the 4th AGM on the court proceedings to recover contributions from the employerShe further reported that the total fund value of MURBS stood at UGX 65.72billion as compared to UGX 78.85billion the previous year. The drop in fund value was as a result of an impairment loss on contributions receivable from the employer amounting to UGX 33.46billion. The Chairperson however reassured members that the trustees with the help of courts of law were pressing for the recovery of this debt as owed to the scheme by the University.

Hajati Nakatudde was also glad to inform members that the scheme with the help of the Administrator had developed an online platform to enable members to access their profiles instantly. “We have developed an online platform that will allow members to access their MURBS records and member statements in real-time as well as make changes to their member details and we thank our Administrator Liaison Financial Services for this milestone” said the Chairperson.

Presenting the Financial Statements for the year ended 30th June 2014, the Scheme’s Principal Pensions Officer Mr. Vitalis Omondi noted that the scheme still had a number of qualifying members with uncollected benefits. He reported that MURBS membership grew from 3,193 to 3,254 as at 30th June 2014 implying an increased number of employee contributions to the scheme. MURBS Investments grew from UGX 43.3billion in 2013 to UGX 52.7billion in 2014 thanks to the great work by Fund Managers PineBridge investments and Stanlib.

Supplementing the Administrator’s report, Dr. John Kitayimbwa noted that MURBS received an investment income of UGX 5.2billion in 2014 with the biggest gains received from treasury bonds interest. Growth in income was also experienced due to gains in share price for brands like Safaricom where the scheme owns shares. He further noted that the scheme had saved money by not incurring any legal costs in 2014. He however appealed to URBRA to help expedite cases of members with medical conditions seeking to access their funds to meet treatment costs. He noted that the current Uganda Medical Board (UMB) assessment procedures were too tedious and often left members frustrated as they failed to use their own savings to pay for treatment.

URBRA CEO-Mr. Moses Bekabye reassured the 4th AGM of the regulator's support towards MURBS bid to improve members' welfareIn his remarks, the URBRA CEO Mr. Moses Bekabye informed members that the Retirement Benefits Regulatory Authority (URBRA) Act of 2011 has provisions mandating employers to contribute to their employees’ retirement benefits. He backed MURBS in recognizing the unremitted employer contributions as a debt in favour of scheme members but took a softer stance when he advised members to avoid litigation by settling any matters amicably. With regard to delays by UMB in assessing member requests to avail funds for treatment, Mr. Bekabye reassured the AGM that this matter was being addressed in the current submissions by URBRA in a bill before parliament. “Among the mandatory benefits that will make contributions to retirement benefits schemes will be i) Age Benefit ii) Survivor Benefit-in the event of employer death iii) Invalidity Benefit-in case one is sick or incapacitated and cannot work anymore and iv) Minimum Health Care Package. This will mean that employees who make mandatory contributions will be able to get medical treatment” said Mr. Bekabye.

In the reactions that followed from the audience, members urged the BoT to calculate how much the University owed MURBS such that stakeholders could be consulted on what action to take through their respective staff associations. Members also raised queries on who approves the expenditure by BoT, how much of beneficiaries’ contributions should be spent by the BoT as well as issues to do with impairment as shared in the Chairperson’s report to the AGM.

MURBS BoT Secretary-Dr. John Kitayimbwa (L) confers with emcee Mr. Louis Kakinda during the 4th AGM, CEDAT, Makerere UniversityIn response the BoT reassured members that Trustees are part of the URBRA Committee that checks expenditure ratios of Retirement Benefits Schemes in Uganda and so far, MURBS is one if the best performing schemes in the country with regard to compliance. Trustees further shared that the BoT budget is approved based on an annual work plan. and  in compliance with URBRA regulations. With regard to the debt owed by the University which led to the impairment loss, the BoT advised that the best way of recovering this debt was through staff General Assembly action, which the association leaders present resolved to follow up.

In her closing remarks, the Chairperson Hajati Fatumah Nakatudde thanked all present for contributing to the discussion at the 4th AGM. She further requested members present to remind all retirees to pick their benefits from the scheme, according to the lists of names published in the media.

The emcee of the day and Public Relations Officer for the Academic Staff Association (MUASA) Mr. Louis Kakinda thanked the BoT for their transparency which had led to a fruitful 4th AGM. He further urged members present to support the MUASA Executive and Management in the quest to get the Government to deliver on its promises. “Remember that our contributions are meager and we are pushing Government to give us the UGX 15million for a Professor pro rata, and so we urge you to keep supporting us,” he concluded.

Article by Public Relations Office

Mark Wamai

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Makerere Convocation to Host a CEOs/Investors’ Round Table Summit 2025

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Makerere University Convocation (MUC) CEOs/Investors’ Round Table Summit on Tuesday, 2nd September 2025, 8:00AM-12:00PM, Convocation Grounds. Kampala Uganda, East Africa.

By Elvis Lubanga

Kampala, Uganda – Makerere University Convocation (MUC) is set to host the CEOs/Investors’ Round Table Summit on Tuesday, 2nd September 2025, bringing together a distinguished assembly of leaders and stakeholders.

The half-day summit will convene CEOs, investors, entrepreneurs, policymakers, researchers, innovators, and development partners to engage in meaningful dialogue, foster collaboration, and explore investment opportunities that can unlock the potential of Uganda’s next generation of talent. Running under the theme: “Exploring the Opportunities for Entrepreneurship, Innovation and Value Creation for Accelerated Socio-Economic Integration and Development of Sub-Saharan Africa,” the event reflects Makerere University’s ambition to position itself as a hub of knowledge, innovation, and transformation.

The Rt. Hon. Prime Minister Robinah Nabbanja will officiate as the Chief Guest, while Dr. Peter Kimbowa, CEO of the CEO Summit Uganda, will deliver the keynote address. Their participation underscores the importance of the summit in strengthening linkages between academia, industry, and government, and in advancing Uganda’s broader socio-economic transformation agenda.

Professor Barnabas Nawangwe, Vice Chancellor of Makerere University, will welcome the invited participants and highlighted the university’s determination to work collaboratively with partners to shape impactful solutions for Uganda and the region.

“We want to work with you to see how, together, we can move our country and continent forward. I invited all of you CEOs to Makerere so that we can brainstorm on what we can do to transform our nation and Africa at large,” Prof. Nawangwe remarked.

According to Ms. Grace Cherotich Ruto, Chief Convener of the summit and Vice Chairperson of the Makerere University Convocation, this will be the first event of its kind. She noted that the summit seeks to foster mentorship, internships, and employment linkages as a means of bridging the gap between industry and academia, while positioning Convocation as a driver of socio-economic transformation.

A key highlight of the summit will be the unveiling of the Makerere University Convocation’s Massive Transformation Purpose, a bold framework that converts five critical takeaways into independent working teams with clear Terms of Reference, objectives, data-driven activities, and measurable outcomes. The plan institutionalizes vision, distributes ownership, and ensures sustainability through quarterly reporting, evidence-based impact, and global benchmarking. The five teams—From Ivory Tower to Impact Tower, Diaspora Dividend vs. Brain Drain, Intergenerational Knowledge Bridges, AI & Future of Learning, and From Convocation to Covenant—are designed to commercialize research, harness diaspora capital, institutionalize mentorship, drive digital transformation, and sustain alumni–faculty–student engagement through a covenant model. Collectively, they transform Convocation from a ceremonial event into a movement of accountability, innovation, and sustainable socio-economic impact for Uganda and Africa.

The summit has already attracted wide endorsement from leading companies and agencies, demonstrating its timeliness and relevance.

Mr. Eugene Too, General Manager at Haco Industries, affirmed the company’s support, stating:

“Haco Industries endorses the Makerere University CEOs Forum. We believe the Summit’s objectives align with our broader goals of creating impact in education, supporting internships, job placement, and mentorship programs in Sub-Saharan Africa. We are proud to be associated with the Summit at Makerere University Convocation.”

Eng. Shaft Mukwaya, Secretary to the Equal Opportunities Commission of Uganda, commended the Convocation’s role in promoting inclusivity:

“Makerere University Convocation has proven to be a steadfast ally in achieving our mission of pursuing an inclusive society in which no one is left behind. We are honoured to be associated with this summit.”

Roofings Uganda has equally expressed strong endorsement, noting that the event aligns closely with their corporate vision:

“At Roofings, we are privileged to endorse the Makerere University Convocation CEOs/Investors’ Summit and call upon all invited guests to be part of this noble cause. Makerere University is a valued partner in nurturing talent and fostering innovation, which aligns closely with our vision of being an accelerator for a sustainable Africa. As sponsors, we are honoured to be associated with this summit that brings together leaders, investors, and visionaries to shape inclusive growth and development.”

With its broad stakeholder support, clear strategic framework, and focus on outcomes, the Makerere University Convocation’s CEOs/Investors’ Round Table Summit is positioned as a landmark event. It will provide a unique platform for academia, industry, and government to converge in pursuit of sustainable growth, innovation, and socio-economic development, not only for Uganda but for the entire Sub-Saharan African region.

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Change of Course/Programme for Undergraduate Admissions 2025/2026

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The Office of the Academic Registrar, Makerere University has released lists for the recommended for change of course/ programme for Degree/Diploma Scheme and Direct entry for Private/Government sponsored students for the Academic Year 2025/2026.

The lists released can be accessed by following the respective links below:

Elias Tuhereze

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Makerere Signs Open MoU with London School of Economics and Political Science

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Seated Left to Right: Dr. Richard Newfarmer, Dr. Jonathan Leape, Dr. Sarah Sewanyana, Prof. Barnabas Nawangwe, Prof. Ibrahim Mike Okumu and Prof. James Wokadala with other officials (Standing) after the MoU signing on 27th August 2025. Makerere University, through the College of Business and Management Sciences (CoBAMS) and the Economic Policy Research Centre (EPRC), has signed an open Memorandum of Understanding (MoU) with the London School of Economics and Political Science (LSE), 27th August 2025, Kampala Uganda, East Africa.

Makerere University, through the College of Business and Management Sciences (CoBAMS) and the Economic Policy Research Centre (EPRC), has signed an open Memorandum of Understanding (MoU) with the London School of Economics and Political Science (LSE). This MoU is one of several initiatives aimed at strengthening the university’s global collaborations and research partnerships.

In his remarks, Vice Chancellor Prof. Barnabas Nawangwe highlighted Makerere’s recent centenary celebrations as a testament to its long and influential history in Africa. He reaffirmed the university’s commitment to serious, research-driven collaboration, noting Makerere’s aspiration to become a leading student-centered research university that develops solutions to regional challenges.

Prof. Barnabas Nawangwe makes his remarks ahead of the MoU signing. Makerere University, through the College of Business and Management Sciences (CoBAMS) and the Economic Policy Research Centre (EPRC), has signed an open Memorandum of Understanding (MoU) with the London School of Economics and Political Science (LSE), 27th August 2025, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe makes his remarks ahead of the MoU signing.

Prof. Nawangwe emphasized that Makerere’s research addresses critical issues such as widespread poverty, high youth unemployment, the devastating effects of climate change on agriculture, rapid population growth, and political interference in production. These challenges, he explained, call for climate-resilient agriculture, stronger health systems to address emerging diseases, and more inclusive governance. He further observed that Africa’s ambitious goal of producing one million PhDs in the next decade remains constrained by inadequate supervision capacity across the continent, stressing that collaborations like this MoU are key to bridging that gap.

EPRC Executive Director, Dr. Sarah Sewanyana, described the signing as particularly significant for EPRC and its Board of Directors as they embark on a new five-year strategic plan (2025/26–2029/30). She explained that the plan strongly emphasizes strategic collaborations, with this partnership serving as a prime example of leveraging collective strengths to deepen impact. She underscored EPRC’s role in advancing evidence-based policymaking for national development, aligning with Uganda’s National Development Plan IV.

The partners show off the signed MoU. Makerere University, through the College of Business and Management Sciences (CoBAMS) and the Economic Policy Research Centre (EPRC), has signed an open Memorandum of Understanding (MoU) with the London School of Economics and Political Science (LSE), 27th August 2025, Kampala Uganda, East Africa.
The partners show off the signed MoU.

Prof. James Wokadala, Acting Principal of CoBAMS, emphasized that the collaboration seeks to preserve and expand vital human knowledge while strengthening partnerships between academic institutions and global research networks. He noted that these networks are instrumental in advising legal and policy professionals, as well as aligning research agendas with both national and corporate priorities. He expressed pride in the extensive efforts of the School of Economics that have expanded these activities in recent years. He pointed to significant accomplishments that have been achieved in collaboration with IGC, including hosting a 2025 high-level international conference on mobile money payment systems, which positioned Makerere University as a thought leader on critical African economic issues. He also celebrated the successful bid by the School of Economics to host the ‘Africa Meeting of the Econometric Society’ in 2027, further demonstrating its contribution to impactful scholarship and policy influence.

The Acting Principal further emphasized that the new partnership with LSE will build on these achievements, offering immense benefits such as expanding capacity-building opportunities for faculty and students, especially in research and Public Infrastructure Management (PIM). The collaboration will also provide platforms for knowledge dissemination and policy dialogue, while addressing pressing socio-economic and health challenges. Ultimately, he said, formalisation of the partnership amplifies CoBAMS’ commitment to excellence in teaching, research, and innovation.

Speaking on behalf of LSE’s International Growth Centre (IGC), Executive Director Dr. Jonathan Leape expressed delight at formalizing the long-standing collaboration with Makerere and EPRC. He highlighted current joint projects, including research on the impact of the 2020 gender-based vaccine program on women’s skills and learning, studies on reforms in STEM education, and investigations into barriers limiting business growth for entrepreneurs. He stressed that the core mission is to bring researchers and policymakers together to address pressing policy challenges with robust, reliable evidence and innovative solutions.

Prof. Nawangwe presents a souvenir Mak Necktie to Dr. Jonathan Leape. Makerere University, through the College of Business and Management Sciences (CoBAMS) and the Economic Policy Research Centre (EPRC), has signed an open Memorandum of Understanding (MoU) with the London School of Economics and Political Science (LSE), 27th August 2025, Kampala Uganda, East Africa.
Prof. Nawangwe presents a souvenir Mak Necktie to Dr. Jonathan Leape.

The event, held on 27th August 2025, was attended by several dignitaries including Dr. Richard Newfarmer, Country Director for Uganda and Rwanda (IGC); Dr. Nhial Kuch, Senior Country Economist (IGC); and Mary Teddy Nakyejwe, IGC Programme Officer. Also present were the Director of Research, Dr. Ibrahim Kasirye and other members of EPRC leadership.

Eve Nakyanzi
Eve Nakyanzi

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