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
Makerere University has today Wednesday, 9th June 2025 officially unveiled NCBA Bank Uganda as the Platinum Sponsor of the Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon. Formerly known as a fun run, the initiative was rebranded on 27th March 2025 during the launch of its Fifth Edition. This year’s event, #MakRun2025, is slated for 17th August 2025 under the theme “Run the Hills for the Future”.
Addressing the Media at a press conference this afternoon, the MakEF Board Chairperson, Dr. Maggie Kigozi remarked, “We are deeply honoured and excited to unveil NCBA Bank Uganda as the Platinum Sponsor of #MakRun2025, with a landmark commitment of UGX 1.45 billion over the next five years.”
Dr. Kigozi further described the unveiling as “a strategic partnership built on shared values and a common vision for inclusive education and sustainable impact,” adding that it would “fast-track the establishment of a fully equipped Disability Support Unit for students living with disabilities, and to build a sustainable pool of funds to support Economically Disadvantaged Students.”
Appreciating the generous sponsorship, the Vice Chancellor, Prof. Barnabas Nawangwe acknowledged that NCBA Bank had not only made history as the biggest corporate sponsor of #MakRun to date but also aligned with Makerere’s vision to improve the quality of student life. “This is a powerful gesture of trust in our mission and a demonstration of deep corporate citizenship”, he added.
Prof. Nawangwe further thanked NCBA for recognizing that an investment in Makerere University is an indirect investment in the future of Uganda. “The Makerere Marathon is not just a race. It is a movement to establish a fully-fledged Disability Support Unit for students living with various forms of disabilities, and to build a sustainable fund for Economically Disadvantaged Students.”
The Vice Chancellor therefore rallied staff, students, alumni, partners and friends of Makerere to match NCBA’s generous support with vigour and commitment, so as to make #MakRun2025 the most impactful edition since its founding.
The Chief Executive Officer, Mr. Mark Muyobo thanked Makerere University for giving NCBA Bank Uganda the opportunity to play its part in “shaping Uganda’s future one student, one community, one strength at a time,” adding that #MakRun is a symbol of hope for students living with disabilities as it speaks to Makerere’s core values of inclusion, equity, and excellence.
On a rhythmical note, Mr. Muyobo remarked that the #MakRun2025 theme is “not just about finishing lines, it is about opening doors; giving opportunities to those who are disabled. It is about promoting active lifestyle.”
#MakRun2025 will for the first time feature a full 42.2km marathon race with international accreditation and professional timing along a dedicated traffic-free route.
“These are not just upgrades, these are bold steps towards building a world-class international marathon right here in Kampala. We are proud to be the wings at your back as you take this leap because when Makerere University, the beacon of higher learning in Uganda grows stronger, the ripple effects are felt across the region and across the continent” Mr. Muyobo affirmed.
To officially seal the deal, a Memorandum of Understanding was officially signed between Makerere University and NCBA Bank Uganda, and thereafter, a dummy cheque of UGX 1.45 billion was presented to Dr. Maggie Kigozi as the Vice Chancellor, Members of Management and NCBA staff witnessed.
General
Directorate of Graduate Training Empowers PhD Supervisors with Academic Supervision Training
By Moses Lutaaya
The Directorate of Graduate Training (DGT) in conjunction with CARTA’s Emerging and Re-emerging Infectious Diseases (TERID) Research Hub and the East– Spark Project completed a two days Doctoral (PhD) academic supervisors training under the theme: “Empowering Academic Supervision Training in Eastern Africa: Sparking Potential, Advancing Research, and Knowledge (EAST-SPARK).”
The training took place between 2nd and 3rd July 2025 at the College of Business and Management Sciences’ (COBAMS) School of Business conference hall.
In his opening remarks, the Director of Graduate Training Prof. Julius Kikooma challenged the team to set clear and manageable objectives for graduate students under their supervision so that they can complete their doctoral studies on time.:
“Set expectations at the beginning of the research journey of PhD students under your supervision. Resist working with students that are not objective. Set a time frame with in which the student is able to do their research so that they are able to finish their doctoral studies on time.”
He added, “The issue of supervising graduate research is very vital because there needs to be seamless progression of the graduate students.”
Prof. Kikooma further highlighted that the target in the strategic plan is to have 30% graduate students enrolled in the next five years. Currently, it is about 17%.
“We need to get everything right in this training. Our biggest issues are in the supervision process flow of the graduate students. Graduate supervisors need to listen to students and equally the students need to listen to the supervisors. The graduate supervision journey is simple with open communication and immediate feedback between the two parties.”
This will help us in creating a new breed of academia and researchers that Makerere university and the country as a whole need.”
Prof. Kikooma further added “Take the excellence you have to represent the university. Ensure you have all they policies on your fingertips so that you guide the students well.”
In his remarks, Prof. Ibrahim Okumu (representing the Principal, COBAMS) said that such a training was necessary and it was a right move towards standardization of doctoral training in the region.
“What does it take to standardize doctoral and graduate studies? We need to create unison in the region and learn by doing. Doctoral studies are vital and cannot be taken for granted. We need to continue creating critical thinkers ready to nature research programs. These trainings are enablers in this journey.”
He added, “Let us blend the old and young birds in this training so that we share knowledge and experience to nature and grow the dreams of the doctoral students. Nature the inner person, not imposing yourself on to the student. Enable them to open up while doing their research and they will have a good and seamless doctoral academic journey.”
Dr. Drago Kato Charles, a trainer and a senior Lecturer at the Department of Biomedical Laboratory Technology at CoVAB said, “These trainings are continuous professional development programs aimed at refreshing doctoral supervisors every now and then. They are vital and needed by the mixture of the young, intermediate and senior supervisors.”
He added, “These senior supervisors share knowledge and experience on what is going on in the world of education. The young come to learn from old supervisors. The goal is to increase completion and quality of the PhD output. In totality, such a training aims to improve quality and mentorship on how to facilitate and handle graduate student supervision.”
He added that the trainees were taking the obtained skills to their schools and colleges to produce more quality doctoral and graduate students which would lead to growth of economies since every country needs PhD researchers to drive economic transformation and policy developments as well as implementation.
Dr. Peter Ssenkusu, a senior lecturer in the Department of Foundations and Curriculum studies in the School of Education said, “The training modules are extensively researched. The areas covered are very pertinent for doctoral supervision.”
Dr. Stephen Ojiambo Wandera, a facilitator and a Senior Lecturer at the Department of Population Studies in the School of Statistics and Planning at COBAMS added, “The vision for Makerere University is to be a research led institution. To be research- led university, we need to promote graduate teaching and learning. To achieve this, graduate students need supervisors that are well trained and skilled. We will also continue to do retooling for experienced supervisors.”
Dr. Byaruhanga Micheal Bruce from the Department of Biochemistry and Tourism, a lecturer and a participant said, “Whoever thought about this training did something very important. I thought all I was doing in supervision was normal until this training came. I did not know that some issues I knew would let the students off the course while others would keep them on. I want to ensure that all I have learnt is put into action. The modules have been very enriching. We need more of such trainings, probably for more than two days.”
Dr. Tukae Mbegalo, a guest trainer from Mzumbe University in Tanzania said, “The training is very relevant considering the diversity of the participants which include the young and senior researchers because of sharing the experiences which include delays and the relationships between supervisors and supervisees.” He added, “As supervisors, our emphasis is on scientific writing which we should instill in the students. Scientific writing leads to consistency right from problem setting, objectives, methodology and aligning it to the results so that we improve the quality of the doctoral outputs.”
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