General
MURBS Prepares Members for Retirement and Launches Biometric Registration
![[L] Mr. Dennis Mugalya - Investment Manager, PineBridge Investments, Second Left is Mr Joseph Njuguna the Schemes Operations Manager, Octagon Africa at the training.](https://news.mak.ac.ug/wp-content/uploads/2016/05/field_image_Nugalya-and-Njuguna.jpg)
“Financial planning leads to financial freedom. A financial plan is very important for every successful worker. Some of us work very hard, but we don’t find time to plan for the money we get. You have to plan for your money to ensure that you have a rest and peace of mind. You should not spend more than what you earn,” highlighted Mr. Joseph Njuguna, the Manager of Scheme Operations at Octagon Africa, a Pension Consultancy firm.
Mr. Njuguna emphasized the importance of a financial plan in the course of preparing for retirement during the Makerere University Retirement Benefits Scheme (MURBS) Sensitization Seminar held on Tuesday 26th April 2016 at Makerere University.
“We all need to do something, save as much as you can in the pension scheme. To continue with the same standards of living before and after your retirement, you must plan now. After retirement, have a residential home and let other assets you have been working for work for you,” Mr. Njuguna emphasized.
Focusing on the theme, Members actively involved in securing their retirement, which was derived from the Board’s strategy to boost accountability and client focus, Members listened to insightful presentations focused on securing a proper retirement.
During the Sensitization Seminar, participants were equipped with valuable knowledge and tips on financial planning, saving now for retirement, investment, the relevance of tracking expenditure, ensuring a proper diet as well as living a healthy life to avoid diseases that would affect them after their retirement. The Members were also enlightened on the MURBS Investment Policy Statement, the current Investment climate and its implication for the MURBS fund.
“I encourage members to undertake investments, most especially, in fixed assets like land, infrastructure, and equipment. These assets are not likely to be converted easily into cash. And their future economic benefit is probable to flow into the entity, whose cost can be measured reliably,” said Mr. Dennis Mugalya, who is an Investment Manager with PineBridge Investments E.A Ltd, and, also, the Chairman of the Investment Management Association of Uganda.
Focusing on the investment climate, Mr. Mugalya revealed that where one invests his/her money, will determine the amount of return to be yielded. He advised members to consider equity investment. This involves buying and holding shares of stock on a stock market in anticipation of income from dividends and capital gains, as the value of the stock rises. He also encouraged members to invest in treasury bills and bonds.
“Investment always comes with risks, including the interest rate. In investment, we have a number of risks. The more risk you take, the more return you expect. Risk is not losing your money, but it is because your return is volatile,” said Mr. Mugalya.
Dr. Paul Kasenene, a qualified Medical Doctor, Nutrition Educator, and a Member of the Technical Working Group of Non Communicable Diseases in the Ministry of Health and Managing Director of Wellcare Health & Wellness Clinic Kampala sensitised members on how to live healthy and prevent diseases that would affect them before and after their retirement.
“To enjoy any aspect of your life, you have to be alive and healthy. Despite more access to information and more advances in research and technology, people are actually getting unhealthier than before,” said Dr. Kasenene.
Dr. Kasenene mentioned that a person’s health is determined by the choices they make every day. “What we do daily either helps us to fight or feed the diseases. Some of us may already have health problems, but the good news is that most of those problems can be slowed, reversed or even stopped. No matter what kind of life you have lived, ill-health is reversible. The solution lies not with doctors, but with you making the right choices in your life,” he said.
He discouraged the habit of going for medical checkups only when people feel sick. He informed participants that such habits have complicated treating diseases like cancer which have no immediate signs and symptoms. He urged members to frequently go for medical tests, eat health diets, take plenty of water and do physical exercises. He appealed to participants to eat plenty of fruits and vegetables. He advised members to focus on the cause of the problem in order to avoid it, than treating the problem or its symptoms.
During the Seminar, the Chairperson of MURBS, Hajati Fatumah Nakatudde, launched a web-based Member Biometric Registration System that will be used to register Scheme members in real time. This was aimed at further streamlining the benefits administration process and improve client self service. . The system will biometrically recognise and verify registered members and avail them with information through the Scheme servers. The members will be able to access information about their benefits from anywhere electronically.
A team of developers from Zedek Pro demonstrated the working mechanism of the Member Biometric Registration System and how the registration can be done in real time. According to the Principal Pension Officer, Ms. Susan Khaitsa, “the pilot registration is planned to commence in May 2016 and, in order to speed up the registration process, Members will be required to pre-fill two forms, that is, the Registration Form 0516A and the Dependants and Nominees (Beneficiary) Form 0516B. The forms will be circulated to Members online.”(The forms can be accessed from the links below)
The Secretary, Board of Trustees, Dr. John Kitayimbwa, shared key updates on the progress of the Scheme since last year. “One of the key updates I should bring to your notice is that, the agreements we had with the Service Providers were expiring in November last year [2015]. We extended their contracts to 31st January 2016 so that we comprehensively review the performance and our agreements with them,” he said.
Dr. Kitayimbwa introduced the new Scheme Service Providers to the Members. Stanbic Bank was appointed the new Scheme Custodian, whose role is to receive and keep in safe hands the funds, title deeds, securities and income accruing to the Scheme; PineBridge Investments Ltd retained its role of Fund Manager and GenAfrica Asset Managers Ltd was appointed Fund Manager – the two investors assist the Board of Trustees to make a prudent investment policy, invest the fund subject to the investment policy of the Scheme and manage the Scheme funds; Octagon Uganda Ltd, a Pension Consultancy firm, was appointed as the Scheme Administrator to handle mainly the Accounting and Benefits Administration.
MURBS was established by Makerere University Council under an irrevocable trust to provide pensions and other benefits for University employees who are admitted to membership under the provision of the Trust Deed and Scheme Rules. On 23rd April 2010, Makerere University Retirement Benefits Scheme was registered as a corporate body under the Trustees Incorporation Act, CAP 165, under certificate T. 37561, C.I. NO.670. Following the establishment of the Uganda Retirement Benefits and Regulatory Authority (URBRA) Act of 2011, MURBS was licensed as a Retirement Benefits Scheme under the new Act and holds license number RBS 0005.
MURBS is a Defined Contribution Scheme where both the employees and the employer contribute a percentage of the employees’ monthly salary.
To be entitled to join this Scheme, an individual must be aged at least 18 years but not more than 50 years old and should be appointed under permanent terms of service at Makerere University. All persons who were in University Service by 31st March 2009 were deemed to have joined the Scheme. Persons who were appointed in University service after 31st March 2009 and to-date are enrolled into the Scheme through the due procedures.
Article and Photos by: Mak Public Relations Office
General
Makerere University commemorates 13 transformative years of partnership with Mastercard Foundation
On Friday, 27th February 2026, Makerere University proudly celebrated 13 years of a significant partnership with the Mastercard Foundation, a prestigious independent organisation headquartered in Toronto, Canada. Since its inception in 2013 with the launch of the Scholars Program-currently headed by Prof. Justine Namaalwa, this collaboration has grown significantly, expanding to include two additional initiatives: The E-learning Initiative-headed by Prof. Paul Muyinda Birevu and the Africa Climate Collaborative-headed by Prof. Gorretie Nabanoga. This long-term partnership underscores the shared commitment to fostering education, innovation, and sustainability in Uganda and across Africa.
The colourful event coincided with the 76th Graduation Ceremony, during which Makerere University honoured Ms. Reeta Roy, the Founding President and CEO of the Mastercard Foundation, with an honorary Doctor of Laws.
In her commencement speech, Ms. Roy thanked Makerere University for considering a partnership with the Mastercard Foundation and for conferring upon her a prestigious honorary award.
“Mastercard Foundation is honoured to collaborate with this esteemed university, and I appreciate the recognition through this award. I am excited to be associated with Makerere University and look forward to actively embodying its values. Joining the broader community of alumni from this distinguished institution is a privilege, and I am eager to contribute to its legacy,” stated Ms. Roy.
During the reception in honour of Ms. Roy, the Chairperson of Makerere University Council, Dr. Lorna Magara, acknowledged the invaluable support from the Mastercard Foundation. She emphasised the profound impact of the Foundation’s various initiatives, particularly the scholarships for disadvantaged youth, which enable them to access higher education and opportunities that might have otherwise been beyond their reach.
“On behalf of the Makerere University Council and the broader University community, I extend our sincere gratitude to Mastercard Foundation for its commitment to collaborating with Makerere University in various endeavours, especially for providing scholarships to our underprivileged young people who would never have stepped inside a lecture room at the University.” Dr. Magara stated.
Dr. Magara, in a special way, thanked Ms. Roy for her transformative leadership and unwavering commitment to supporting young people in Africa, citing her efforts to ensure young people get their voices heard.
“As a university, our business is with young people. We are therefore committed to providing the environment and education that deliver meaningful pathways. We will provide an environment that ensures young people have a voice and agency to create meaningful change in society.” Dr. Magara pledged.
Dr. Magara further congratulated Ms. Roy on her honorary Doctor of Laws from Makerere University, noting that it is the university’s highest honour for individuals who have excelled in their careers.
“On behalf of the Makerere University community, I would like to extend my heartfelt congratulations on your honorary Doctor of Laws. This esteemed recognition represents the highest honour our institution can bestow on individuals who have demonstrated exceptional achievement and excellence across various facets of their career.” Dr. Magara remarked.
Prof. Justine Namaalwa, the Program Director of the Mastercard Foundation Scholars Program and the Coordinator for all Mastercard Foundation Initiatives at Makerere University, expressed her appreciation for the thirteen-year collaboration between Makerere University and the Mastercard Foundation. She highlighted that the partnership had yielded significant, impactful results.
“In 2013, Makerere University partnered with the Mastercard Foundation to educate the next generation of transformative African leaders who can positively impact their lives, their communities, and the economies of Africa. The partnership has had a significant impact. I thank the University Management and the Foundation team for this visionary collaboration,” remarked Prof. Namaalwa.
Prof. Namaalwa articulated that the partnership with the Mastercard Foundation is primarily focused on empowering young people as agents of change for transformational leadership in Africa. She presented compelling statistics demonstrating the positive impact of the scholars’ program, highlighting the success of individuals who have completed their education and their subsequent professional experiences after university graduation.
“This partnership focuses on young people, aiming to create positive change in their lives. To date, the Scholars Program has graduated 974 alumni, with 48% securing formal employment, 18% starting their own businesses, 8% participating in internships, and 5% pursuing further education. Overall, 72% of Scholar alumni are actively engaged in employment or entrepreneurship,” Prof. Namaalwa stated.
The colourful event showcased a dynamic array of activities that highlighted the entrepreneurial spirit of Scholars and alumni from the Mastercard Foundation at Makerere University. Attendees enjoyed a mini-exhibition featuring innovative products from these ventures.
A video documentary illustrated the positive impact of the three Mastercard Foundation initiatives. The event also featured inspiring poetry recitations by Scholars and a lively atmosphere of music and dance, creating an engaging and memorable experience for all participants.
The high-level event was attended by senior University officials, led by the Chairperson of Council, Dr. Lorna Magara; the Vice-Chancellor, Prof. Barnabas Nawangwe; the Vice-Chancellor, Academic Affairs, Prof. Sarah Ssali, Deputy, and the Ag. Deputy Vice-Chancellor, Finance and Administration Prof. Winston Tumps Ireeta. Mr Yusuf Kiranda, the University Secretary; and Prof. Buyinza Mukadasi, the Academic Registrar, Chancellor Emeritus-Prof. Ezra Suruma, former Chairperson of the Steering Committee of Mastercard Foundation Scholars Program-Prof. Umar Kakumba, and the Deputy Executive Secretary, RUFORUM, and former Program Coordinator of the Scholars Program at Makerere University-Dr. Florence Nakayiwa, among many other officials graced the function.
The event was also graced by a high-level delegation from the Mastercard Foundation, led by Ms. Reeta Roy, the Founding President of the Foundation, and included the Mastercard Foundation Teams from the Country offices in Kigali, Nairobi, and Kampala; the Program partners; the Mentors, Scholars and alumni; as well as the Program staff of the three Mastercard Foundation Initiatives at Makerere University.
At the end of the event, Makerere University honoured Ms. Reeta Roy with University memorabilia, including a pencil-drawn portrait, a pencil-drawn photo of the Ivory Tower, and other Ugandan crafts. Ms. Roy cut a graduation cake together with the 10 graduates of the 76th graduation ceremony from the Mastercard Foundation Scholars Program.
Bernard Buteera is the Principal Public Relations Officer for the Mastercard Foundation Scholars Program at Makerere University.
The Board Chairperson of the Makerere University Endowment Fund (MakEF), Dr. Margaret Blick Kigozi, has urged graduands in Health and Life Sciences to uphold professional ethics and serve humanity with diligence and compassion.
Her appeal came during the passing out of graduates from the College of Natural Sciences (CoNAS), the College of Veterinary Medicine, Animal Resources and Bio-Security (CoVAB), the College of Health Sciences (CHS) and the School of Public Health (SPH) on Day Two of the 76th Graduation Ceremony of Makerere University.
“Class of 2026, you are now part of the Makerere legacy. Wherever you go clinics, laboratories, farms, boardrooms, or classrooms, you carry this institution with you. Serve your patients with skill and compassion. Care for animals and communities responsibly. Question boldly and keep learning,” Dr Kigozi, said.
Delivering the commencement address, Dr. Kigozi lauded the graduates for their dedication to careers that directly impact lives and communities. She encouraged them to use their knowledge generously and exercise their power gently.
“Your education has trained you to ask better questions. Your humanity must guide the answers. Never forget that behind every chart, every case, every animal, every experiment, there is life. And life deserves care, patience, and dignity. Give every person you come in contact with care, patience and dignity,” Dr Kigozi, noted.
As the graduates embark on their professional journeys, Dr. Kigozi emphasized the importance of cultivating basic business acumen and financial literacy to ensure sustainability in their work.
“You do not need to become accountants but you must be able to read the essentials: understand simple financial statements, budgets and key metrics so you can judge whether a clinic, lab, or program is sustainable. You are encouraged to start your business. There are numerous investment opportunities in your areas of training. You can provide services to our people and create jobs,” Dr Kigozi, said.
She shared candidly how, when she first stepped into leadership, she realised she did not understand balance sheets or budgets well enough. So, she returned to Makerere for short courses to strengthen herself.
“A well-run Hospital, clinic or lab delivers better outcomes, attracts staff, and secures funding. Business savvy is not only about profit, it’s about sustainability and the freedom to serve ethically and effectively. Carry clinical skill with business sense so your work endures and grows,” Dr. Kigozi, noted.
Quoting renowned writer and producer Shonda Rhimes, creator of Grey’s Anatomy, who once reflected that succeeding in one area of life can sometimes mean falling short in another, Dr. Kigozi encouraged women graduates to intentionally balance professional ambition with family responsibilities.
“When one area thrives, another is often under strain. When Navio was graduating from school I had to manage the Presidential Investor Round Table on the same day as Executive Director Uganda Investment Authority. I chose my job and delegated his siblings to attend Navios graduation. I learnt from this. I choose family always after that thing you achieve once and keep forever,” Dr Kigozi, said.
In his speech, the Prof Barnabas Nawangwe, the Vice Chancellor, informed the congregation that Makerere’s ranking on all university ranking platforms has remained stable, placing Makerere among the top 10 African universities and within the top 4.5% globally.
“In the Times Higher Education global ranking, Makerere University made a formidable jump from the 1200-1500 bracket to the 800-1000 bracket. This was no mean achievement and I congratulate all members of the Makerere Community on this stellar performance,” Prof Nawangwe, said.
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