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
General
Prof. Nawangwe urges young people to take up leadership in innovation for the transformation of Africa
By the Program Communication Team
On Sunday, February 2, 2025, Makerere University hosted the Mastercard Foundation Scholars Council Representatives meeting, which brings together young people from around 45 partner universities of the Mastercard Foundation.
During the event, Vice Chancellor Prof. Barnabas Nawangwe urged young people to prepare for leadership roles in innovation, especially starting with their communities, if they wish to see the positive transformation they desire in Africa.
“I urge you to connect and network with your peers and discuss how you can form inter-university teams to innovate solutions that will address the development challenges in our communities for the transformation of the African continent.” Prof. Nawangwe remarked.
Prof. Nawangwe applauded the Mastercard Foundation for its partnership with Makerere University and Uganda in general, which has uplifting effects on many young people.
“Makerere University and Uganda have made remarkable strides in providing Higher Education to Young People, thanks to the generous support of the Mastercard Foundation, which has contributed significantly to educating the next generation of African leaders. Through valuable initiatives and partnerships, such as the Mastercard Foundation Scholars Program, Makerere University is poised to continue educating young individuals who will significantly impact Uganda’s and Africa’s economic growth.” Prof. Nawangwe noted.
The Vice-Chancellor, Prof. Nawangwe, further urged young people to seize the opportunities the Mastercard Foundation and other like-minded development partners presented to improve their lives and communities.
“The Mastercard Foundation has given you the platform and opportunity to be leaders and beacons of change. Embrace this responsibility with courage. Let the core values of the Scholars Program—humility, listening, kindness and respect, co-creation, and impact—guide your actions,” Prof. Nawangwe emphasized.
While speaking at the same event, the Program Director of the Mastercard Foundation Scholars Program at Makerere University, Prof. Justine Namaalwa, enumerated high-level achievements the Program had accomplished for the last decade at Makerere University. She pointed out that in terms of scholarship enrolment, the Program had recruited 1,032 Scholars, of which 76% were Females, 7% were Internationals, 4% were Refugees, and about 1% were Youth with Disabilities.
Prof. Namaalwa further pointed out other post-graduation achievements, including a 94% completion rate of the total number of Scholars enrolled in the Scholars Program. She pointed out that between 2018 and 2025, the Program had graduated 964 Scholars, of which 37% were employed, mainly in the private sector.
Prof. Namaalwa revealed that beyond the Scholars Program, the Mastercard Foundation had put other initiatives supporting the university in numerous ways. She pointed out other initiatives such as the e-learning initiative, a COVID-19 Response measure to ensure continuity of Teaching and Learning at Makerere University and the Climate Resilience and Sustainability Collaborative: Makerere University, in collaboration with the University of Ghana, the University of Cape Town, and the University of Cambridge, is implementing a new initiative that addresses one of the world’s most significant challenges in recent times—climate change.
Prof. Namaalwa revealed that the Research Collaborative would provide opportunities for MSc and PhD scholarships to African students and encourage young people to enrol as graduate students starting in the academic year 2025/2026.
The event was punctuated with fireside chats, during which young people had an opportunity to discuss a number of topical issues related to entrepreneurship and Transformative leadership. Thereafter, the visiting students were taken on a guided tour around Makerere University.
The Mastercard Foundation Scholars Council comprises student leaders from partner Universities. Each Partner University has one Council Representative. They represent the needs of Scholars and work with the Mastercard Foundation Scholars Program teams at each institution, the Mastercard Foundation, and Alumni.
On Monday 3rd February 2025, the Vice Chancellor, Prof. Barnabas Nawangwe handed over three (3) university buses to the respective leadership in the College of Agricultural and Environmental Sciences (CAES), the College of Health Sciences (CHS), and the College of Veterinary Medicine, Animal Resources and Biosecurity (CoVAB).
The new buses mark a significant improvement in mobility and learning for Makerere University students and staff, furthering the institution’s commitment to practical education and community service.
Speaking at the handover ceremony held at the University’s Freedom Square, Prof. Nawangwe highlighted the significance of the new buses in enhancing teaching and learning. “These buses will play a crucial role in improving students’ practical learning experiences by ensuring reliable transportation for fieldwork and community outreach,” he said.
Prof. Nawangwe expressed gratitude to the Parliament and the Government of Uganda for providing the resources for the new buses, emphasizing their importance in replacing the old fleet, which frequently breaks down. The new 2023 model buses, with a 67-seater capacity, were secured at a cost of UGX 626million each and are expected to save the university significant maintenance costs and improve the learning experience for students.
Principals from the respective colleges expressed their appreciation for the new buses. Prof. Frank Norbert Mwiine, Principal of CoVAB, emphasized the importance of the buses for practical training at locations such as Lake Mburo National Park. Associate Prof. Gorettie Nabanoga, Principal of CAES, and Associate Prof. Bruce Kirenga, Principal of CHS, highlighted the buses’ role in facilitating community engagement and outreach.
He explained that the decision to purchase Isuzu buses instead of those manufactured by Kiira Motors Corporation (KMC) a Makerere University partner, was based on prior engagement with the former, as well as the need to utilize the allocated funds promptly within the Financial Year, which couldn’t be accomplished at KMC due to their high demand.
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