General
MURBS Registers 16% Growth Despite Volatile 2016-17 Markets
The Makerere University Retirement Benefits Scheme (MURBS)’s total fund value has grown from UGX 67.46billion as at 30th June 2015 to UGX78.2billion as at 30th June 2016 representing a 16% growth, despite declines in the money and equity markets over the same period. This was the latest update shared by Hajati Fatumah Nakatudde the Chairperson, Board of Trustees, MURBS at the 6th Annual General Meeting (AGM) held on Thursday 27th October 2016 in the Main Hall, Makerere University.
The AGM which came in the wake of similar ones by other players in the Ugandan Retirement Benefits market was highly anticipated, given the generally poor performance by regional equity and money markets over the same period. Approximately 30% of the fund value is invested in Equities especially in the Kenyan market, which played witness to two banks failing in the same period. The fast approaching Kenyan election combined with the recently concluded Ugandan election also led to a poor performance of local currencies, which led to foreign investors exiting the regional markets.
“After due consideration, the Trustees are declaring a rate of return of 4.34% on the opening balances as at 1st July 2016,” reported Hajati Fatumah Nakatudde as she gave her report. She however reassured members that the Board was anticipating a higher rate of return at the next AGM especially as foreign investors, who wield a lot of influence in the regional equity and money markets are expected to return as the currencies stabilize. The Chairperson further commended Makerere for remitting contributions due to MURBS members consistently over the 2015/16 financial year, but urged the University to honour outstanding debt obligations to the Scheme.
In his remarks, Dr. John Kitayimbwa the Secretary, Board of Trustees restored the member’s confidence in the scheme when noted that despite declaring a lower rate of return than other players, the MURBS fund value was solid and guaranteed. He also reported that the Scheme had sought legal redress with regard to the outstanding debt owed by the University and Trustees were only awaiting the signing of a judgement on the same. He further clarified that the change in the Scheme’s Custodians from Standard Chartered Bank Limited to Stanbic Bank Uganda Limited was completely in line with terms of the Service Level Agreement (SLA) as agreed upon at commencement. Additionally, he explained that the recruitment of GenAfrica Asset Managers Limited to replace Stanlib Uganda Limited as Fund Manager, whose contract expired on 31st January 2016, was after a thorough review of their performance in the regional market. The scheme retained PineBridge East Africa Investments Limited as Fund Manager.
The regional investment atmosphere and opportunities for the future were further explained by Mr. Denis Mugalya, Investment Manager at PineBridge when he said, “In the equity markets, about 70-80% of investors within our region are actually outside East Africa and so when the currency misbehaves within the region like it did in 2015, even if the share price hasn’t moved, they are already losing value. The only election we are left with is in Kenya under a year and for now the currencies have sort of stabilized.”
He anticipated that within at least 6 months, the projections would have improved and confidence would have returned to the market, “and therefore it might not be as bad as we did previously, maybe a 10% growth and we are looking at a 10-15% return on equities” he added.
In other initiatives reported at the AGM, the Board of Trustees has developed an online platform through which members can access their statements at their own convenience. “This is a good innovation and we are going to train members intensively on how to use the system,” remarked Dr. Kitayimbwa the Board Secretary. He added that members will still be able to receive printed statements but warned that this trend would gradually be phased out as a way of improving efficiency.
At the conclusion of the AGM, the Chairperson, Hajati Fatumah Nakatudde thanked members for sparing time to participate in the meeting. She reminded all present that the term for the current serving Trustees expires on 31st March 2017 and an election for new members is slated to take place in December 2016. She therefore thanked all Trustees who were ineligible for another term for their service and urged scheme members to actively participate in the election process when it is announced.
The 2016 AGM was attended by the Deputy Vice Chancellor (Finance and Administration) Prof. Barnabas Nawangwe, as well as representatives from; Uganda Retirement Benefits Regulatory Authority (URBRA), Scheme Administrator-Octagon Uganda Limited, Auditors-KPMG, Custodian-Stanbic Bank Uganda Limited and Fund Managers-PineBridge Investments and GenAfrica Asset Managers.
Article by Public Relations Office
The Makerere University Council and Top Management have today convened at Speke Resort Munyonyo to deliberate on the University’s Strategic Plan 2025/2026 – 2029/2030. The retreat seeks to align Makerere’s priorities with the Fourth National Development Plan (NDP IV) and ensure that all key stakeholders contribute to shaping the institution’s next five years.
Opening the discussions, the Vice Chancellor, Prof. Barnabas Nawangwe, underscored the centrality of planning in the University’s growth trajectory. He called on members of management to actively participate in the drafting of the new strategic plan. Prof. Nawangwe highlighted Makerere’s progress in recent years, noting that the University has drawn a roadmap to becoming a research-led institution, with publications rising from 700 five years ago to 2,000 currently.
He further pointed out the revision of research policies to align with the University’s research agenda, as well as the establishment of innovation hubs that support product development, commercialisation, and intellectual property management. Commending staff for their resilience and success, Prof. Nawangwe congratulated them on winning significant individual grants, some of which now surpass institutional grants. “NDP IV is intended to grow the country tenfold, and I am confident Makerere will make a huge contribution,” he remarked.
In her keynote remarks, the Chairperson of the University Council, Mrs. Lorna Magara, described the retreat as a defining moment for Makerere’s role in Uganda’s transformation. She urged the University to move beyond traditional teaching and research, positioning itself as a central driver of national development.
“Our mandate extends beyond academia. The knowledge we generate, the leaders we shape, and the innovations we deliver must directly fuel Uganda’s growth,” Mrs. Magara stated.
She outlined priority national development areas— agro-industrialisation, tourism, mineral-based development, and advances in science and technology—where Makerere’s expertise can make a decisive impact. Emphasising the urgency of challenges such as youth unemployment, climate change, food insecurity, and fragile health systems, she noted that within these lie opportunities for Makerere to lead in testing and scaling solutions.
“This retreat is about discipline and focus. Our strategy cannot be a wish list; it must be a blueprint for measurable national impact,” she said, challenging participants to critically reflect on how Makerere can anchor Uganda’s food security, nurture digital innovators, strengthen health resilience, and raise transformative leaders.
She concluded with a call for boldness and clarity in execution: “The next five years are decisive. Makerere must shift from being a participant in national development to being its strongest driver. What we agree here must position Makerere not only as Uganda’s premier university but also as a trusted national partner and a beacon of Africa’s transformation.”
The retreat involved detailed discussions and contributions from University leaders, aimed at developing a practical and impact-driven strategic plan that cements Makerere’s role in advancing Uganda’s development agenda.
Education
Makerere University signs Memorandum of Understanding with International Rescue Committee to Advance Research, Innovation and Partnerships
Makerere University has signed a five-year Memorandum of Understanding (MoU) with the International Rescue Committee to formalize undertakings in research, innovation & partnerships.
Signed in September 2025 by the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe and the Country Director, International Rescue Committee, Mr. Elijah Okeyo, the MoU provides a framework to implement research intensive programmes, promote innovative teaching and learning, internationalization, and contribute to societal transformation.
According to Mr. Okeyo, the MoU re-affirms Makerere University as the academic partner of the International Rescue Committee (IRC). “This MoU formalizes IRC’s working relationship with Makerere University. This framework empowers both institutions to tap into opportunities together. We believe in equal partnership. Makerere University commits to being our partner in research to contribute to evidence based humanitarian undertakings,” he said.
Under this collaboration, Makerere University and IRC will work on developing child-centered learning resources, innovative curricula, and policy-relevant research to enhance the quality of education in crisis-affected regions.
At Makerere University, the MoU brings on board, the College of Education and External Studies (CEES), Makerere University Institute of Teacher Education and Research (MITER), and the Early Childhood Care and Education (ECCE) Research Centre.
To concretize the MoU, the Principal of the College of Education and External Studies, Prof. Anthony Muwagga Mugagga convened a partnership meeting on Friday 12th September 2025 involving a delegation from the International Rescue Committee (IRC), Dr. David Kabugo, the Deputy Director of Makerere University Institute of Teacher Education and Research (MITER), and Ms. Ritah Namisango, the Principal Communication Officer.
The delegation from the International Rescue Committee (IRC) consisted of the following: Mr. Elijah Okeyo-Country Director, Mr. Vincent Wanyama-Senior Program Development and Quality Coordinator, Mr. Richard Omasete-Policy and Advocacy PlayMatters, and Ms. Janet Nambuya-Grants and Partnerships Coordinator.
The MoU focuses on the following areas of interest: Early Childhood Development, joint research and capacity building in education, the plight of refugees and the host communities, humanitarian aid, as well as, evidence based research to inform the education policy.
In line with its mandate, IRC brings onboard, its unmatched expertise in helping children in crisis-affected areas. The MoU therefore positions both institutions to undertake a leading role in the protection of children and families through evidence based research, access to education, and humanitarian undertakings.
Dr. Kabugo, the Deputy Director MITER, noted that the MoU opens new opportunities for joint efforts in research, training, and policy. He said: “We are committed to co-designing practitioner research, engaging in professional development, and generating evidence to guide the education policy in Uganda and beyond.” Dr. Kabugo explained that this partnership builds on years of cooperation between CEES and IRC, especially in child-centered methods such as play-based learning.
Prof. Mugagga described the MOU as a practical framework that connects Makerere University’s research with IRC’s field experiences. He stated that the College of Education and External Studies (CEES) conducts programmes focused on the future of the young people through training and empowering students/teachers. He articulated that the College significantly impacts on the education sector through delivery of quality academic programmes and research under the School of Education, School of Distance and Lifelong Learning, and the East African School of Higher Education Studies and Development.
“Our strongest synergy is education and early child-focused care,” Prof. Mugagga emphasized. He revealed that the collaboration presents CEES with a strong and reliable partner (IRC), which stands for protection and the well-being of children and families. “Through this MoU, both CEES and IRC, will significantly contribute to improving education for children, families, and communities impacted by conflict and crisis.”
Prof. Mugagga commended IRC for the earlier support and expertise extended to the College in the development of the early childhood centre, and working together to provide valuable input during the Ministry of Education and Sports’ consultative process that led to the Early Childhood development policy.
Reflecting on the increasing number of refugees enrolling for studies at Makerere University, Prof. Mugagga said: “ IRC has come at the right time. The College will tap into the IRC expertise to teach our staff and learners components in refugee education. They will equip our students and teachers with knowledge and skills in refugee education. Some of our students will cooperate with IRC to undertake research in refugee settlement and host communities.”
Prof. Mugagga implored both MITER and IRC to undertake research and develop modules on refugee education, parenting, re-tooling street children, integration of a health component into the curriculum, and management of truamatised students/learners who come from areas affected by war, conflict and crisis.
On the issue of play materials, Prof. Mugagga stressed that already made play materials derial creativing. “Both CEES and IRC should work towards a context that empowers children and learners to ignite their creative potential by developing home-made play materials,” he submitted.
About IRC
Stating a brief profile history about IRC, Mr. Okeyo explained that IRC is a global non-profit organisation that provides humanitarian aid and assistance to people affected by conflict and disaster. IRC has been active in Uganda since 1998, originally assisting displaced populations in Northern Uganda and later expanding its efforts to refugee settlements and urban areas.. Currently, IRC operates more than 35 health facilities in refugee settlements and runs a variety of programs in health, education, protection, and economic recovery. IRC also undertakes projects focusing on early childhood development, prevention of gender-based violence, and protection of refugees and families.
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