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
Makerere University, through the Makerere University Convocation (MUC), has hosted the first-ever CEOs/Investors’ Round Table Summit on Tuesday, 2nd September 2025. The historic event brought together alumni, Chief Executive Officers (CEOs), and stakeholders in a distinguished assembly aimed at re-imagining the university’s role in national and continental transformation.
The Convocation, which serves as a critical forum for foresight and life-transformational dialogue, unveiled five transformative points carefully crafted to transform Makerere from a symbolic “ivory tower” into an “impact tower” that influences the country and the world more than ever before.
Government Endorsement and Call to Action
The Chief Guest, Prime Minister Rt. Hon. Robinah Nabbanja, was represented at the event by the 3rd Deputy Prime Minister, Rt. Hon. Rukia Nakadama Isanga. She conveyed warm greetings from H.E. the President of Uganda, Gen. Yoweri Kaguta Museveni, and the Rt. Hon. Prime Minister.
She commended the Convocation for convening under the summit under a significant and timely theme: “Exploring the Opportunities for Entrepreneurship, Innovation and Value Creation for Accelerated Socio-Economic Integration and Development of Sub-Saharan Africa.”
She described the summit as not just a gathering but a journey and a call to action, urging academia, industry, and government to align efforts with Uganda’s and Africa’s transformation priorities.
Framing her remarks around the World Bank’s guiding principles—Trust, Humility, Inclusion, Collaboration, and Knowledge—she explained:
- “Trust must be built between government, academia, and business… the gathering reflects the trust in CEOs and investors to walk this journey together.”
- “Humility requires listening and learning, recognizing that no single institution has all the answers.”
- “Inclusion reminds us that no youth, woman, or marginalized group should be left behind in transformation.”
- “Collaboration is the currency of progress, necessary for solving complex challenges across sectors.”
- “Knowledge remains our greatest asset, with Makerere University demonstrating its importance in moving from ivory towers to communities to transform lives.”
She then unveiled a “massive transformation purpose”, commissioning five working teams led by CEOs and investors. The teams, nominated lead persons, and their respective objectives included:
- From Ivory Tower to Impact Tower – Dr. Patricia Ojangole (UDB) with Patrick Ayota (NSSF), translating research into market-ready innovations.
- Diaspora Dividend vs Brain Drain – Jennifer Bamuturaki (Uganda Airlines) with Michael Mugabi (Housing Finance Bank), harnessing diaspora capital, skills, and mentorship.
- Intergenerational Knowledge Bridges – Fabian Kasi (Centenary Bank) with Ajay Kumar (Quality Chemicals), institutionalizing mentorship and reverse mentorship.
- Climate and Infrastructure Leadership – Proscovia Nabbanja (UNOC) with Silver Mugisha (NWSC), anchoring research in energy security, green transition, and infrastructure.
- Pan-African Digital and AI Advantage – Sylvia Mulinge (MTN Uganda) with Mumba Kalifungwa (Stanbic Bank), positioning Makerere as Africa’s digital and AI hub.
She pledged full government support, noting that the teams would convene in the Office of the President. “This summit is not ceremonial but a covenant,” she stressed.
The Minister’s Reflection
Hon. Balaam Barugahara, State Minister for Gender, Labour and Social Development in charge of Children and Youth Affairs, emphasized that the summit was not a party but a process of transformation.
Drawing from personal experience, he recalled joining Makerere in 2000 and completing his degree in seven years due to balancing work, hustling for fees, and studying. He praised the university’s role in shaping his success and highlighted recent developments such as the renovation of Mary Stuart Hall and revamping the Main and Western gates, as milestones that have enhanced Makerere’s image. He equally applauded the curbing of staff and student unrest.
He noted that the summit aimed to facilitate networking, mentorship, career opportunities, and university development, signalling collective commitment to Uganda’s transformation.
Council’s Vision: A Legacy Re-imagined
Representing Makerere University Council Chairperson Ms. Lorna Magara, Prof. Sarah Ssali described the summit as a “historic alumni CEO investor round table” and a reaffirmation of Makerere’s role in Africa’s development. She described the university as a “cradle of leadership, innovation and resilience”, noting that the gathering’s objectives included fostering partnerships, showcasing research, launching a fundraising drive, and strengthening alumni engagement. Prof. Ssali emphasized that alumni relations must go beyond occasional financial contributions during events, to continuous communication and genuine relationships. “This summit marks the start of a journey, not just an isolated event,” she reechoed.
Vice Chancellor on Unlocking Makerere’s Potential
Reflecting on the theme of his bid for the Office of Vice Chancellor, “Unlocking the Potential of Makerere University,” Prof. Barnabas Nawangwe noted that while many only celebrate the absence of strikes, behind the calmness is a vibrant transformation.
He highlighted Makerere’s alumni strength, with over 20,000 CEOs globally, and underscored their contributions to Uganda’s economy, governance, health, sports, and research. “What would Uganda do without Makerere?” he pondered. Prof. Nawangwe quickly added that the moment was ripe for Makerere to collaborate more with diaspora alumni so as to tap into fast-evolving niches such as blockchain.
Convocation’s Strategic Role
MUC Chairperson CPA George Mugabi Turyamureeba outlined the Convocation’s mission to support the university’s growth and well-being. He highlighted innovations such as the Convocation House, the annual luncheon for first-class graduates and their parents, mentorship programs, and the MUC SACCO as initiatives that his team had established and promoted during the term so far. The Chairperson nevertheless urged the CEOs present to enable the Convocation have greater impact collaborating on existing as well as envisaged projects such as the Convocation Innovation Centre.
Adding her voice, Vice Chairperson Ms. Grace Cherotich Ruto urged participants—described as “movers and shakers” of Uganda’s economy—to ensure that their decisions today would be celebrated by future generations.
Keynote Address: The Journey’s Just Began
In his keynote, Dr. Peter Kimbowa, Founder and Board Chair of the CEO Summit and Makerere alumnus, congratulated his alma mater on the initiative and reaffirmed the Convocation’s strategic role.
He emphasized that the Round Table Summit should not be seen as a one-time event but as an ongoing journey, echoing American Football Player Jalen Hurts’ mantra: “There’s no arrival. Only the journey.” Dr. Kimbowa defined the Convocation as a community of leaders, alumni, and faculty united by heritage and vision. He described it as a bridge connecting:
- The past to the future,
- Business and industry to academia, and
- Learning to market needs.
He stressed that the Convocation’s ultimate goal was to transform Makerere into a self-sustaining engine of innovation, opportunity, and national transformation. Drawing on corporate insights, he challenged participants to always ask “what is the next opportunity?” and warned against complacency. He unpacked the massive transformation purpose structured around five working teams which MUC has developed, whereby corporate chief executives from Uganda are called upon to lead collaboration with the university. He highlighted the importance of mobilizing talent to connect with successful Ugandan alumni, underscoring the need for local CEOs to harness talent in the diaspora. He emphasized deliberate action, mobilization of global alumni talent, and collaboration between CEOs and the university to sustain transformation
Panel Discussions and Triple Helix Framework
The day’s panel discussion featured Mr. Samuel Mwogeza (Executive Director, Stanbic Bank), Mr. Peter Sibukule (Headmaster, Busoga College Mwiri), Mr. Clovice Bright Irumba (Petroleum Authority of Uganda), and Ms. Grace Cherotich.
Mr. Mwogeza stressed the need to commercialize university prototypes and ideas. He explained that banks like Stanbic use their networks to strengthen innovators’ business cases, preparing them for market entry. Mr. Sibukule on the other hand called for transformation of mindsets right from secondary school level so that students are well primed to communicate, collaborate, uphold integrity and good work attitudes over qualifications in the marketplace. Mr. Irumba highlighted efforts by the PAU to create more opportunities for Ugandan entities to get involved in the oil and gas sector thanks to gaps highlighted by a study undertaken by the Economic Policy Research Centre (EPRC). Ms. Cherotich on the other hand invited CEOs to take interest in research outputs of the Makerere University Research and Innovations Fund (Mak-RIF) and reassured the audience of the Convocation’s readiness to provide a trusted platform for engagement with industry.
Contributing to the day’s discussion, Prof. Eriabu Lugujjo, Executive Director of the Uganda Vice Chancellors’ Forum (UVF), reminded the audience of the “Triple Helix” model and it’s underlying policy frameworks that in the recent past guided collaboration between universities, government, and the private sector. He observed Uganda’s lack of a robust framework, and called for policies that tie tax incentives to university support by corporations and other business entities.
Proceedings
The inaugural edition of the summit was moderated by Dr. Tayeebwa William from the Department of Journalism and Communication who doubles as Managing Editor Makerere University Press and Dr. Viola Karungi from the Department of Performing Arts and Film (PAF).
The PAF team took charge of the leading the anthems and day’s entertainment, which included a poetic presentation of the Makerere University Anthem.
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