Makerere University Bachelor of Commerce Students beat all odds to emerge as second runners up in the inaugural Inter-University Insurance Quiz held on Friday 20th October 2017 at the Imperial Royale Hotel, Kampala. The students who only learned of the competition on the eve of the event through their mentor Dr. Godfrey Akileng-Head, Department of Accounting, College of Business and Management Sciences (CoBAMS), however took the last minute preparations to heart and emerged triumphant.

“There is no module on insurance under the Bachelor of Commerce (B.COM) programme but our students did well, despite my initial hesitation owing to the short notice. We are very proud of them as a College” said Dr. Akileng. He however added that in future, insurance would be taught as a core course under the new curriculum currently under review. “This will equip our students with the basics of underwriting” he added.

The inaugural quiz was jointly organised by the Uganda Insurers Association and the Insurance Institute of Uganda (IIU) and the Makerere University team took home a trophy, certificates of participation and recognition and a brand new Tecno Spark smart phone for each of the five participants.   Additionally, one of the team members Ms. Ankunda Nisa won herself a fully sponsored Certificate of Proficiency in Insurance from IIU in recognition of her excellent oral performance during the quiz. Other members of the team were; Katungi Andrew, Namutebi Zurah, Kirumira Julius and Ndekezi Bernadine.

Commenting on the selection criteria for participation in the quiz, Dr. Akileng said “Owing to the demanding preparation schedules for the quizzes coupled with other academic demands, we choose 3rd Year students with the highest CGPAs in the B.COM class to participate. This year, we selected the top 15 students and split them into teams of five to prepare for the: Ethics Challenge and the CFA Institute Research Challenge both organised by the Chartered Financial Analyst (CFA) Institute of Uganda and the recently concluded Insurance Quiz.”

In Dr. Akileng, the students have found a supportive and knowledgeable mentor. He personally participated in the CFA Institute Research Challenge of 2009 and his team emerged as global runners up. “For my efforts, I won a cash prize, trophy, certificate and books that I still use to teach my students. I also had the opportunity to meet CEOs of top global brands like Apple’s late Steve Jobs.”

The next CFA Institute Research Challenge for the East African local chapter is scheduled to take place in February 2018 and the team is confident that they will do well. “The Insurance Quiz was a way to build up your question approach and answering skills for the next level. Participation gives you the opportunity to open yourself up and meet people you have never met and gain experience you never had. I received heartwarming report from the IIU CEO-Mr. Saul Sseremba that Makerere had the most decent students in the competition. I encourage you to uphold this” lauded Dr. Akileng.

Other teams that participated in the inaugural Insurance Quiz were drawn from Makerere University Business School (MUBS), Bugema University, Kyambogo University, Mutesa I Royal University and Buganda Royal Institute.

Article by Public Relations Office