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
Minister Janet Museveni Lays Foundation Stone for School of Graduate Studies Building, Commissions the School of Law Building and the renovated Lumumba Hall
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni, has laid the foundation stone for Makerere University’s School of Graduate Studies building, whose construction is now underway.
The Minister laid the foundation stone for the USD8 million project during a brief function held on Wednesday 18th December 2024 at the site opposite Makerere University’s Lumumba Hall. The event was attended by several dignitaries, including the State Minister for Primary Education, Hon. Joyce Moriku Kaducu, University Council Chairperson Mrs. Lorna Magara, and Makerere University Vice Chancellor, Professor Barnabas Nawangwe.
Others in attendance included Acting Deputy Vice Chancellor of Finance and Administration, Professor Henry Alinaitwe; Acting Deputy Vice Chancellor of Academic Affairs, Professor Buyinza Mukadasi; University Secretary Mr. Yusuf Kiranda; Dean of Students Winfred Kabumbuli; Guild President Vincent Lubega Nsamba; and the Vice Guild President, Joy Eve Serunjogi among others.
The building is a donation (in-kind) from the late Hasmukh Patel, an industrialist and former Chairman of Tororo Cement who passed away on August 29, 2024, after a short illness. The journey to this befitting donation to Makerere University started in December 2022, when Hasmukh Patel accompanied by some members of his family and friends visited the Vice Chancellor, Prof. Barnabas Nawangwe to declare his donation. From December 2022, a number of meetings were convened involving the Minister of Education and Sports, the University leadership, Mr. Hasmukh Patel, his family and Tororo Cement regarding this donation. Living true to his commitment during those meetings, his family and Tororo Cement are implementing his wishes to construct the building, which will house the School of Graduate Studies at Makerere University.
Before laying the foundation stone for the School of Graduate Studies building, Hon. Janet Museveni first unveiled a plaque to officially open the new building for the School of Law. She then headed to Lumumba Hall, where she unveiled another plaque marking the completion of its renovation.
The First Lady, who had initially laid the foundation stone for the School of Law building on May 17, 2022, returned to the main campus to officially open the completed structure. Funded by the Government of Uganda to the tune of UGX 7.3 billion, the new three-storeyed building features lecture rooms, tutorial and seminar rooms, a library, a moot court, offices, a cafeteria, a lactation room, and other teaching and learning facilities. Construction was undertaken by M/S CK Associates, with Symbion serving as a consultant.
The renovation works for Lumumba Hall commenced in June 2023, with the site handed over to the contractor, National Enterprise Corporation (NEC). Funded by the Government of Uganda to the tune of UGX 9 billion, the project involved extensive renovations to restore Lumumba Hall to its original splendor. Lumumba Hall now accommodates about 725 students.
Lumumba Hall was the first hall of residence to undergo renovation, followed by Mary Stuart Hall, which has also been handed over to NEC for refurbishment. These renovations, which began last year, are a result of the Government of Uganda’s efforts to improve the nine (9) halls of residence at the main campus.
Speaking at the event, Hon. Janet Museveni thanked the University Council and management for their dedication to rebuilding the institution. She expressed confidence that the physical restoration efforts would also rebuild the character of young people.
“There is a restoration of dignity that comes to an institution or a community when we choose to rebuild and it is not only physical, there is a spiritual restoration that comes as well. For Nehemiah, it was not just the rebuilding of a physical wall it was the rebuilding of broken lives and a broken covenant. It was the rolling away of the reproach they had suffered as a nation,” she said.
Adding; “I therefore salute the Council and the management of Makerere for your dedication to the rebuilding of this University. I am confident that as you rebuild physically, you are rebuilding the character of our young people. My prayer is that the physical restoration is translating into the spiritual restoration of this great institution.”
The first lady, Hon. Janet Museveni recalled her earlier visit to Makerere University, where she observed the dilapidated state of the halls of residence, which prompted her to initiate the renovation works.
“I remember taking a tour of the halls of residence in this University and Kyambogo University in the thick of the COVID-19 pandemic. My heart bled when I saw the state of the halls of residence. Like Nehemiah, I took my burden to the Lord and now see what the Lord has done! Commissioning of the refurbished Lumumba Hall today is a testament to the faithfulness of our God. It is even more gratifying to know that other projects are ongoing and these include: the renovation of Mary Stuart Hall, the construction of the Perimeter Wall, and improvements at the University Hospital, including setting up an operating theatre and ICU.” She said.
Hon. Janet Museveni also expressed gratitude to the Vice Chancellor, Prof. Barnabas Nawangwe, for his leadership, which facilitated the realization of the Tororo Cement project. “This Project would not have been possible without the guidance and leadership of the Vice Chancellor of Makerere University, Prof. Nawangwe, who drew my attention to this offer by Tororo Cement, and requested me to endorse this Project, which will be named after Mr. Hamukh Patel,” she said.
Adding: “I am informed that the construction of this building is estimated to cost 8 Million US dollars and will consist of: lecture and seminar rooms, smart classrooms, laboratories, an innovation space, a conference hall, offices and other facilities. We remain forever grateful for this donation, which will increase access and contribute to improving the quality of postgraduate education.”
Speaking at the event, Vice Chancellor Prof. Nawangwe commended Hon. Janet Museveni for prioritizing the development of Makerere University, which has seen remarkable progress under her leadership. “Hon. Minister, from the time you took over the Office of Minister of Education and Sports and the Higher Education Sector, Makerere University in particular has transformed tremendously. Most notable is the infrastructure revolution at Makerere. On several occasions, you have come to Makerere to lay the foundations for new buildings and to open completed buildings, including our iconic Main Administration Building,” he said.
“When you inspected the halls of residence in 2021, I could see the frustration in your eyes, looking at the dilapidated state the halls were in, especially Lumumba, part of which had been condemned for 2 years,” Prof. Nawangwe said.
“Hon. Minister, I am sure that today, after seeing the glamorous new building for the School of Law and the glittering renovated Lumumba Hall, you are in a completely different mood compared to that visit in 2021. We are as delighted as you must be and your efforts are the reason for our happiness today. Our law students and professors can now comfortably study, work and conduct research in the best building for any school of law that I have seen,” Prof Nawangwe added.
Reflecting on the Graduate School Building, Prof. Nawangwe recalled when he received a proposal from Mr. Hasmukh Patel in 2022 who had initially intended to donate the Main Administration Building, which had been destroyed by fire, but opted to donate School of Graduate Studies Building after finding that the main building reconstruction had already started.
“Hon. Minister, in the morning of 13th December 2022, a miracle happened in my office in the Frank Kalimuzo Building. General David Muhoozi and Major General Apollo Gowa walked into my office with the Late Hasmukh Patel. Gen. Muhoozi introduced Mr. Hasmukh Patel as the Chairman of Tororo Cement, who after learning about the destruction by a fire of our Main Administration Building, expressed the wish to reconstruct that iconic building. On reaching Makerere, Mr. Hasmukh Patel found a contractor already on site, and he told us, that he would all the same donate a building to Makerere University as a gift on our 100th anniversary,” Prof Nawangwe said.
“He said it in such a simple way, that I thought I was dreaming. That evening, at the invitation of Mr. Patel, I visited the building that Mr. Patel had built for a school at Bukoto and I told him that a similar building for Makerere would be just what we needed for our School of Graduate Studies and Research that we needed. The University Council unanimously voted to thank Mr. Patel for his magnanimous offer and, you, Maama Janet graciously endorsed the project. I later visited Mr. Patel in Mombasa and was amazed at the humanitarian work he was doing among the communities. He was such a rare human being,” Professor revealed.
“Today we are here to witness the laying of the foundation stone for this, the largest academic building at Makerere University, and the first such donation I know by an African philanthropist to a university in Africa. The building will have lecture and seminar rooms, a conference hall, innovation spaces, PhD student rooms, computer and other laboratories, a restaurant, staff offices and other facilities. I thank Tororo Cement and the family of the Late Hasmukh Patel for honoring his wish and I wish to assure Mr. Patel, who must be in heaven smiling at us, that we will honor his legacy in this building and that we will put the building to its best use in the service of humanity, which is what Mr. Patel lived for,” Prof Nawangwe added.
On her part, the state Minister for Primary Education, Honorable Joyce Moriku Kaducu acknowledged Hon. Janet Museveni for prioritizing the Education sector in her leadership, which has led to the tremendously development of the sector.
“On behalf of the education sector, we want to thank you as the mother of the nation, indeed you are a big gift and a blessing to the nation and education at large, all this achievement would not have been possible if it was not under your visionary leadership and the guidance you have offered,” Minister Kaducu said.
Hon. Kaducu also hailed Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model, which is intended to create wealth among citizens.
“As President Museveni is preaching the message of wealth creation, I want in a special way to thank Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model (PDM), and they have a committee that monitors and informs government. They are indeed part of the team promoting wealth creation in this country,” she said.
Mrs. Lorna Magara, the Chairperson of the Makerere University Council said that the construction of the Graduate studies building speaks to the University’s mission of being a research-led institution because it comes as a dedicated building to house the Directorate of Research and Graduate Training, which marks the resolution of a critical gap in our institutional framework
“At the heart of Makerere University’s current strategy is the promotion of a research-led institution, with a strong focus on graduate training. The establishment of a dedicated facility for the School of Graduate Studies, which also houses the Directorate of Research and Graduate Training, marks the resolution of a critical gap in our institutional framework. The late Patel’s timely and generous contribution will undoubtedly advance graduate training and research for generations to come. We extend our heartfelt gratitude for your exceptional support,” she said.
Mr. Manish Varsani who represented the Patel family took the first lady through how Mr. Hasmukh Patel started the idea of donating the building to Makerere. He explained that, Mr. Patel intended to present a gift that was coming from the bottom of his heart, and he teamed up with General Muhoozi who led him to Prof. Nawangwe’s office.
He also recalled when Mr. Patel met H.E President Yoweri Kaguta Museveni Museveni in Bukoto where he (Patel) had donated a building to a school and told the President that he would want to donate the same building to Makerere University as a gift to the First Lady Janet Museveni because he loved her so much, and in response, the President said he would take the message back to the First Lady.
The Guild President Lubega Vincent Nsamba asked the First Lady to consider constructing another hall of residence for the female students to solve what he described as an accommodation imbalance.
“Maama Janet Museveni, allow me to report to you that we still have only three halls of residence gazetted for female students against the six halls of residence gazetted for male students. These halls of residences were built back in colonial and independent times when the female students were fewer compared to their male counterparts, and to me Maama, this accommodation imbalance is something that should be addressed,” he stated.
“To me Maama, this speaks to the sense of how there is a dire need to invest in another additional hall of residence for the girl child here at Makerere University, and Maama, without any fear of contradiction, we humbly request that you consider building an additional hall of residence named after you in recognition of the contribution and honor of the service you have made for this country as a mother and as an educator,” he said.
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