General
MURBS declares Market-high Rate of Return for 2nd year running
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.
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.
She 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.
In 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.
In 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
Makerere University staff have been urged to embrace servant leadership, integrity and compassion as they prepare to welcome students for the 2026/2027 Academic Year.
The call was made during the Makerere University Staff Prayer Breakfast held on 31st July 2026 at St. Francis Students Centre Upper Hall under the theme “Faithful Stewards: A Servant Heart with Integrity and Wisdom,” drawn from Colossians 3:23–24 and Mark 10:35–45.
The prayer breakfast brought together members of Council, University Management, academic, and administrative staff to dedicate the new academic year to God while reflecting on their responsibility of serving students with excellence, humility and integrity.
A Call to Seek God’s Wisdom
Host Rev. Dr. Lydia Nsaale Kitayimbwa reminded staff that no amount of professional experience or academic expertise can replace God’s guidance.
She noted that the University’s mission can only be fulfilled when staff continually seek God’s wisdom in serving students and one another.
“There is no amount of experience or expertise that can replace God’s wisdom.”
Rev. Dr. Kitayimbwa observed that students remain the reason universities exist and challenged staff to approach their work as a calling rather than merely employment.
“Without students, there is no university,” she said, encouraging members of staff to remain united, avoid unhealthy competition and trust God as they begin another academic year.
She further urged staff to become faithful stewards who work together in harmony, which she summed up as, “United we stand; divided we fall.”
A Community, Not Just a Centre of Research
In her remarks, Dean of Students Dr. Winnie Kabumbuli welcomed the Council Chairperson, the Deputy Vice Chancellor (Academic Affairs) and Members of Management to the breakfast, and reminded staff that a university’s value cannot be measured by research and innovation alone.
She described Makerere as a community held together by the spiritual as well as academic wellbeing of its people, and called on staff to renew their commitment to one another as much as to the institution they serve.
Draw Inspiration From Stewardship
Representing the Vice Chancellor, Prof. Barnabas Nawangwe, Deputy Vice Chancellor (Academic Affairs) Prof. Sarah Ssali told staff that this year’s breakfast carried special significance.
“This is the first prayer breakfast we are having ever since we launched our strategic plan,” she said, referring to the University’s new Strategic Plan, launched on 2nd July 2026.
She encouraged staff to hold on to the morning’s reflections as a guide for implementing the plan over the next five years, describing Makerere as an institution many families choose above all others for the vision and training it offers their children. She urged staff to see themselves as stewards of that trust rather than simply employees carrying out a job.
Compassion and Discipline Must Go Together
Delivering her remarks, Makerere University Council Chairperson Dr. Lorna Magara challenged staff to strike a balance between compassion and discipline when dealing with students.
She observed that many students face different personal and academic challenges, making encouragement and timely support essential throughout their university journey.
“A word of encouragement can restore hope and prevent costly mistakes,” she noted.
Dr. Lorna encouraged lecturers and administrators to respond promptly to students’ concerns, explaining that delays, insensitive decisions and abuse of authority can discourage students and negatively affect their academic experience.
She reminded staff that students often remember how they were treated long after they have forgotten what was taught in class.
“Students may eventually forget what we teach them, but they will always remember how we treated them.”
She added that education goes beyond transferring knowledge.
“Education is more than knowledge. We communicate life, character and values.”
Quoting Mark 10, Dr. Lorna called upon staff to embrace servant leadership by exercising authority with humility, integrity and accountability.
She encouraged members of staff to ask themselves whether they would treat every student the same way ashey would treat their own child.
“We may not always have all the answers,” she said, “but we can communicate honestly, take responsibility and treat every student with dignity.”
She concluded by urging different colleges and administrative units to work together instead of operating in isolation, noting that unity strengthens the University community.
Referring to Galatians 6:2, she reminded staff to carry one another’s burdens and remain faithful stewards of the responsibility entrusted to them.
Servant Leadership Begins with Faithfulness
Delivering the keynote address, Dr. James Magara, husband to Dr. Lorna Magara, called on members of staff to embrace servant leadership grounded in humility, faithfulness and service to others.
Drawing from Mark 10:35–45, Dr. Magara reflected on the account in which James and John asked Jesus for positions of honour in His kingdom, prompting discontent among the other disciples. He observed that despite walking closely with Christ, the disciples continued to struggle with the desire for status and recognition. He noted that such competition remained evident even during the Last Supper, where concerns over positions and prominence persisted.
Dr. Magara said that Jesus responded to these human tendencies by redefining leadership through service rather than authority. He described Christ’s act of washing the disciples’ feet as the ultimate demonstration of servant leadership, explaining that genuine leaders are willing to undertake even the humblest responsibilities in service of others.
Referencing Philippians 2, he urged staff to emulate Christ’s humility and selflessness, contrasting it with the pride and self-exaltation illustrated in Isaiah 14. He emphasised that lasting influence and greatness are not measured by titles, positions or recognition, but by one’s willingness to serve faithfully and put the needs of others before personal ambition.
Drawing on his own leadership journey spanning several decades, Dr. Magara challenged leaders across the University to cultivate humility, integrity and a servant heart in the execution of their responsibilities. He cautioned that leadership driven by pride and personal ambition undermines both individual effectiveness and institutional progress, whereas servant leadership strengthens organisations and fosters lasting impact.
The prayer breakfast concluded with a call for unity and collective commitment as Makerere University prepares to begin a new academic year. Organisers noted that the reflections on stewardship, integrity and servant leadership would provide a strong foundation for the University community as it advances the implementation of the Makerere University Strategic Plan 2025–2030.
-
General2 days agoUndergraduate Admission Lists 2026/2027
-
General5 days agoAdmission Lists for Postgraduate Programmes 2026/27
-
General1 week agoGulu University Benchmarks Makerere University’s Management of Mature Age Entry Examinations
-
General1 week agoMakerere, Southwest Minzu University and NARO Forge Strategic Partnership to Advance Livestock Research and Innovation
-
General1 week agoMakerere’s Research Billions Offer MUST a Blueprint for Managing Grants