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
The two-week training programme aims to equip government officers with practical skills to assess project viability, manage investment risks and ensure public resources deliver value for money.
The Public Investment Management Centre of Excellence (PIM CoE) is strengthening the capacity of government officers to undertake financial appraisal and risk analysis of public investment projects through a two-week training programme designed to improve the quality of project preparation, appraisal and decision-making in Uganda.
The training, which started in Fort Portal on October 19, 2026, brought together participants from various government ministries, departments and agencies (MDAs), alongside facilitators from Makerere University, the Ministry of Finance, Planning and Economic Development, Cambridge Resources International (CRI), the National Planning Authority and the Uganda Development Bank.
Officially opening the training on behalf of the Permanent Secretary/Secretary to the Treasury, Ms Esther Ayebare, Acting Assistant Commissioner in the Project Analysis and Public Investment Department of the Ministry of Finance, Planning and Economic Development, emphasised the importance of rigorous project appraisal in strengthening Uganda’s public investment management system.
She noted that projects admitted into the public investment plan must be aligned with national priorities, technically sound, financially viable and capable of delivering value for money.
“Government must be able to compare investment alternatives and ensure that only viable projects proceed through the public investment process,” she emphasised.
Ms Ayebare explained that sound appraisal enables government to make informed investment decisions, maximise returns on public expenditure and ensure that limited public resources are directed towards projects with the greatest potential to deliver development outcomes.
Building practical skills for better investment decisions
The training builds on the Public Investment Management course conducted in June, which introduced participants to Uganda’s public investment management framework, including project conceptualisation, stakeholder analysis, project costing, implementation action plans, the Integrated Bank of Projects, and monitoring and evaluation of public investment reforms.
The current programme advances this foundation by equipping participants with technical competencies in financial appraisal, financial modelling and risk analysis.
Participants will explore integrated investment appraisal, alternative investment criteria, cash-flow statements, inflation and exchange-rate movements, asset valuation, project financing, project scale and timing, risk-sharing arrangements and cost-effectiveness analysis.
Through practical exercises and case studies, participants will apply these concepts to investment scenarios in sectors such as roads, health, education and water. The programme will also examine how climate change, social considerations and other risks can be integrated into project preparation and appraisal.
Ms Ayebare encouraged participants to engage actively with the facilitators, question the practical application of the tools and consider how the skills acquired could improve investment decisions within their respective institutions.
She also reminded participants that the programme includes an examination and that certification requires more than attendance. Participants are expected to demonstrate an understanding of the concepts and acquire practical skills that they can apply in their work.
Reducing dependence on externally prepared studies
A key objective of the training is to strengthen the ability of government institutions to undertake high-quality project appraisal studies using their own technical teams.
Ms Ayebare observed that many studies submitted to the Development Committee have traditionally been prepared by external consultants, often at considerable cost. Building the capacity of public officers to conduct these studies independently can help institutions strengthen their technical expertise and improve the quality of project proposals presented for consideration.
She urged participants to take full advantage of the facilitators’ expertise and return to their institutions equipped to undertake sound financial appraisals and provide evidence-based advice to decision-makers.
She further emphasised that project approval requires thorough preparation, analysis and justification, rather than simply identifying available funding and proposing a project to utilise it.
Strengthening public investment management through capacity development
In his remarks, Prof. Edward Bbaale, Director of the PIM CoE, thanked the Ministry of Finance for its financial support and for identifying participants from government institutions. He also recognised the contributions of the facilitators and partner institutions in delivering the programme.
Prof. Bbaale noted that the Centre’s work extends beyond training to include research and advisory services aimed at improving public investment management practices. He encouraged continued collaboration with government institutions and other partners to advance research, knowledge sharing and capacity development.
Speaking during the training, Dr John Sseruyange, Manager of the PIM CoE, highlighted the importance of commitment, active participation and punctuality throughout the programme. He encouraged participants to engage with the facilitators, ask questions and apply the knowledge gained to the projects they support.
Dr Sseruyange also acknowledged the Government of Uganda, through the Ministry of Finance, Planning and Economic Development, for financing the training, and appreciated Cambridge Resources International for its continued support towards improving public investment preparation and analysis in Uganda.
The training reflects ongoing efforts to strengthen Uganda’s public investment management system by equipping public officers with the knowledge and practical competencies needed to assess projects rigorously, identify potential risks and make informed investment decisions.
By developing in-house expertise across government institutions, the programme seeks to contribute to better-prepared projects, more efficient use of public resources and improved delivery of Uganda’s development priorities.
President Yoweri K. Museveni while officiating as Chief Guest at the Julius Nyerere Annual Symposium 2026: Nyerere-Museveni Dialogue at Makerere University called upon the audience not to merely hold Nyerere’s Legacy as a historical footprint but as a masterplan for the future that remains unfinished. Organised by the Julius Nyerere Leadership Centre (JNLC), the symposium was a two day event that started with “ekyooto” on 13th October at the JNLC gardens and climaxed on 14th October in Freedom Square. The second day hinged on the theme: Borrowing from the Past, Building the Future.
In the President’s message delivered by Rt. Hon. Dr. Crispus Walter Kiyonga the Second Deputy Prime Minister and Chancellor of Makerere University, the president spotlighted, “Mwalimu Nyerere as the greatest African that ever lived in terms of contribution to the African people’s efforts for freedom, human rights, and dignity.”
This greatness, he notes, spilled not just to political ideals but also to economics and security. The President agreed with him and warned that “freedom without economic transformation and economic prosperity, without a robust strategic security, remains incomplete.”
Reaching out to the younger generation of scholars and leaders, the President issued a strong warning to move beyond simply remembering Nyerere to action. He said, “you must carry forward the torch of pan-Africanism, reject sectarianism and tribalism, build our regional markets, and champion the total political integration of our motherland.”
He appreciated Mwalimu for his; unwavering support for the struggle of the East African Federation, courageous backing of the armed anti-colonial struggles in the southern half of Africa, principled and decisive support for the anti-Idi Amin struggle, pro-people and pro-unity policies that kept Tanzania peaceful for decades, and ensuring that Tanzania remained a strategic rear base for the entire African resistance.
As a believer in Nyerere’s ideals, the President urged the audience to honor Mwalimu “not merely through commemorative speeches, but through completing the historical task of uniting, defending, and prospering our motherland,” for the motive is to ensure that the independence wars won by our predecessors were not in vain.
To this note, he reiterated the case for Uganda, saying “we shall never forget his profound contribution” to Africa.
Professor Nyamsenda’s Keynote Unparked Pan-Africanism
During the Nyerere-Museveni Dialogue symposium at Makerere University, Professor Sabatho Nyamsenda, a lecturer at the University of Dar es Salaam delivered the Keynote Address titled “The Unfinished African Project: From Liberation Legacies to a New Generation of Transformation” during the symposium”.
He started on a lighter noticing “Nyerere is being Ugandanised.” This he said looking at the annual Public Lectures dedicated to his name and felt like challenging his home institutions to follow suit.
At the calm of the room, he presented a critique of the current state of Pan-Africanism, arguing that it has been grabbed by the ruling elites, a challenge Professor Nyamsenda identifies to have started in the period of 1960 -1980.
He explained that it was around this time period that Pan-Africanism was snatched away from the masses and it became a state project. Currently, he said the ideology exists in two forms: Boardroom and Street Pan-Africanism.
Professor, characterised Boardroom Pan-Africanism as a State Project. He said “boardroom Pan-Africanism sits comfortably with imperialism and elite-centered accumulation.” While Street Pan-Africanism to which Professor advocates, he emphasised that historically, this approach “united the African liberation movement and liberated the African continent from the most barbaric colonial powers.”
As he concluded, Professor Nyamsenda joined Mwalimu and the President of Uganda in urging youth to consider joining and leading the struggle for a better Africa.
Role of JNLC in Realising Nyerere’s Ideas
Professor Saturninus Kasozi Mulindwa, the JNLC Board Chair highlighted the primary objective of the center as “imparting knowledge and sharing experiences from the old generations to the new generations.” Therefore, JNLC contributes to the actualisation of Nyerere’s ideas by focusing on the development of the next generation of African leaders.
To supplement this, Dr. Nansozi K. Mwanga the Executive Director at JNLC said that the center is committed to “nurturing ethical, conscious, and transformative leaders inspired by Mwalimu’s ideas of service, human dignity, self-reliance, and Pan-African solidarity.”
She explained their focus is on several key areas with training as core. They have “trained over 1,500 young people and young leaders from across Uganda.”, and developed leadership programs “grounded in ethical decision-making, civic responsibility, public service, and action.”
In her remarks, it was observed that training alone is not enough; they are also doing mentorship, to provide opportunities for networking and learning from experienced leaders. There are already testimonies when you visit the Centre wall of fame. To which Dr. Nansozi revealed “leadership development matters when learning becomes service and meaningful action.”
The Centre remains proud of those they have touched and are eager to support as many cohorts.
Julius Nyerere Family Pour their Heart out
Mama Maria Nyerere, addressed the Symposium virtually and commended the Centre for keeping Mwalimu’s values alive.
As a memory of her husband, she reminded the audience that his greatest legacy was anchored on the values by which he lived: service, humility, integrity, unity and love for Africa and its people. She also urged the young people to take up leadership responsibilities and lead with humility, integrity and always remember the people they serve.
Mama Nyerere also advised the youth to learn from those who came before them like her husband with courage to build a better Africa for their generation and those who will come after them.
Joining Mama Nyerere, on behalf of the Nyerere family was Ms. Julia Nyerere, a granddaughter, who attended physically and thanked H.E. Kaguta Museveni for supporting the establishment of the Julius Nyerere Centre at Makerere University and also commended the Keynote Speaker Professor Nyamsenda for Critiquing Nyerere’s ideas.
Julia further shared an understanding of her grand-father’s interest in preserving humanity as a moral.
As a family they are happy that his (Nyerere) values and legacies continue to inspire Africa and beyond.
Appreciation for All who Made the Symposium Possible
Addressing the symposium, the Vice Chancellor of Makerere University, represented by Professor Henry Alinaitwe the Deputy Vice Chancellor in Charge of Finance and Administration expressed the University’s appreciation and commitment.
He thanked “the government of Uganda for the support they are giving to the Julius Nyerere Leadership Center,” and requested Dr. Kiyonga to “convey the message to the fountain of honour for this initiative that Makerere University is happy for, and is going on well.”
To the leadership of the Center, he specifically thanked the Director Dr. Nansozi for her focused leadership. He stated, “I commend my friend, Dr. Nansozi, for the work that you are doing.”
Professor Alinaitwe also emphasized “we” value these symposiums, saying, “as a university, we acknowledge that such activities create great visibility.”
Dr. Kiyonga was also thanked for delivering the President’s message, together with veterans like Professor Kabwegyere, among other distinguished guests and partners that attended.
Professor Tarsis Bazana Kabwegyere as well appreciated all and emphasised the collective duty of the youth in building the next generation.
He advised “your responsibility is to identify and build Africa forward, building on the legacies and foundations of our forefathers,”.
The Professor also argued that “being young on its own is not a virtue. It is what you are when you are young.” He challenges the audience to avoid being ignorant and claim that you are young.
Background of the Nyerere Symposium
The Julius Nyerere Annual Symposium is an intergenerational gathering hosted at Makerere University. For more than six years now, it has been connecting past leadership legacies of Nyerere and other revolutionaries with current regional and continental priorities under the (JNLC) centre.
The Julius Nyerere Leadership Centre (JNLC) serves as a training ground and research hub designed to mentor the next generation of African leaders. Co-hosted by Makerere University and the Uganda Management Institute (UMI), the Centre bridges the gap between older statesmen and youth by focusing on Pan-African ideals, ethical governance, and social transformation.
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