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MURBS Declares 34% Fund Value Growth at 7th AGM

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Financial forecasts at the 6th Makerere University Retirement Benefits Scheme (MURBS) Annual General Meeting (AGM) held in October 2016 were noncommittal especially in the wake of the February 2016 presidential election in Uganda and the then upcoming Kenyan General Election in August 2017. Trustees in their remarks then braced attendees for the worst performance, especially since the East African equity markets, which hold a substantial amount of the Scheme’s investments, are dominated by foreign players. These closely monitor the regional political climate and are known to withdraw their investments whenever any political event that will likely affect the markets looms. The situation was not helped by failing commercial banks in the region and conflict in South Sudan.

Fortunately, whereas the markets behaved as predicted, MURBS’ fund value grew by 34% from UGX 78.2billion as at 30th June 2016 to UGX 104.5billion as at 30th June 2017, thanks largely to retiree contributions and recovery of UGX 10billion as partial settlement of outstanding retirement benefits both from Makerere University.  Addressing Members at the 7th AGM, held on Thursday 26th October 2017, the Chairperson-elect, Board of Trustees Mr. Wilber Grace Naigambi also noted that the Scheme made net returns on investments worth UGX 12.5billion compared to UGX 3.5billion the previous year. “This performance was driven mainly by a positive performance in fixed income owing to high interest rates prevailing on government securities” explained the Chairperson. Government securities in the form of treasury bonds and bills account for approximately 72% of the Scheme’s total investments.

L-R: Dr. John Kitayimbwa, Mr. Wilber Naigambi, Mr. David Ssenoga, Mr. John Peter Okello and Mrs. Dorothy Kabanda at the 7th MURBS AGM

The Scheme’s membership also grew from 3,301 members the previous financial year to 3,763 members. The Chairperson in his remarks introduced the MURBS Departmental Ambassadors Programme, aimed at enhancing the Scheme’s governance by directly involving members who are trained and exposed to the operations of MURBS. “These volunteers will assist with clarifying informal queries from members at departmental level and they will form a team from which potential trustees can be identified and mentored” said Mr. Naigambi.

MURBS emerged winner of the Retirement Benefits Schemes category of the Financial Reporting (FiRe) Award 2016. At the 7th AGM, the Chairperson Mr. Naigambi presented the FiRe Award 2016 to members present. MURBS remains the top institution in this category thanks largely to the work by the Audit Committee headed by Mr. David Ssenoga. Mr. Ssenoga informed the AGM that a new format of the Auditor’s report has since been adopted and the Scheme reasonably complied with new financial reporting guidelines as issued by the Uganda Retirement Benefits Regulatory Authority (URBRA). He further noted that the Scheme duly complies with all Income Tax Requirements and reassured the AGM that MURBS maintains a meticulous track record of all owed to it by the sponsor Makerere University.

L-R: Former MURBS Chairperson-Hajati Fatumah Nakatudde, with retired Trustees Prof. Julius Zake and Mr. Bruce Twesigye at the 7th AGM

The 7th MURBS AGM held in the main hall was a well-attended affair with representation from both University Leadership and staff associations. The days emcee, Mr. Louis Kakinda often used the breaks in between sessions to introduce key members of the University leadership and staff associations. In attendance were; Mr. Bruce Kabaasa-The Chairperson Appointments Board, who represented Eng. Dr. Charles Wana-Etyem, the Chairperson University Council, Ag. Director of Human Resources-Mrs. Dorothy Senoga Zake, Deputy Dean of Students-Mr. Stephen Kateega, members of Council and staff.

Earlier, the Secretary to the Board of Trustees-Dr. John Kitayimbwa had introduced the new Trustees as appointed on 1st April 2017. These are; The Chairperson-Mr. Wilber Grace Naigambi, Mr. John Peter Okello and Mrs. Dorothy Nannozi Kabanda. In addition to Dr. Kitayimbwa who was reappointed as Secretary to the Board, Mr. William Ndoleriire also returned as one of five Trustees of the Board. Mr. David Ssenoga and Dr. Saul Hannington Nsubuga by virtue of their being Chairperson and Member of the Audit Committee respectively are in addition co-opted Members of the Board.

Prof. James Kigongo a retiree on contract makes his contribution during the 7th MURBS AGM

In his address to the AGM and in response to some of the questions raised by members especially regarding the safety of their investments in seemingly unpredictable equity markets, Dr. Kitayimbwa reassured the gathering that the Scheme’s fund managers; Sanlam Investments East Africa and GenAfrica Asset Managers, are some of the best in the region and keenly follow market trends to return the best value on investment.

“All investments made by the fund managers on behalf of MURBS are informed by an actuary’s inventory” said Dr. Kitayimbwa. “Our investments are also guided by an investment horizon; which in our case, based on the average age of our membership, is 15years. We have to ensure that whereas we seeking the best investments to grow the fund value, we maintain a certain level of liquidity to pay members who are eligible to leave the scheme” he further explained.

L-R: Principal Pensions Officer-Ms. Susan Khaitsa, Mr. Joseph Njuguna-Octagon, Mr. Wilson Kayindi-KPMG and other service providers listen to proceedings during the interactive session

Responding to members who also felt that it was unfair to struggle with constantly rising interest rates on loans taken from commercial banks and yet they could borrow against their benefits portfolio, Dr. Kitayimbwa shared that MURBS is regulated by URBRA which has strict conditions under which a member may access their benefits, the key being upon retirement. He however reassured the AGM that URBRA is fronting the Retirement Benefits Sector Liberalisation Bill, which will hopefully provide for more flexible ways of accessing benefits to support mortgages, foot treatment costs and other needs. He further restored confidence in the members that there benefits are protected by law and in the unforeseeable event that the Scheme’s bankers were to go under, the regulator would first and foremost ensure that retirement benefits are secured before any other depositors are considered for compensation.

To reiterate Dr. Kitayimbwa’s point, Prof. Jean Barya-MURBS’ Senior Legal Counsel advised Scheme members to take keen interest and actively participate in the debates around the Retirement Benefits Sector Liberalisation Bill and the National Health Insurance Scheme bill. “Education and Health are two of the largest expenditures that we incur in life. You therefore need to be interested in these bills because we shall all benefit if they are passed in a proper manner.”

A cross-section of MURBS service providers; Octagon, Sanlam, GenAfrica, Stanbic and KPMG, at the 7th AGM

In closing the 7th AGM, the Chairperson Mr. Naigambi thanked all members for sparing time to attend the event in large numbers and urged them to further study the report they had received as well as all information on the MURBS website. “I encourage you to embrace the idea of additional voluntary contributions (AVC) in addition to the 5% by Makerere to further boost your benefits at the time of retirement” he concluded.

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Strengthening Partnerships: Makerere University Welcomes Delegation from Western University, Ontario, Canada

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The Vice Chancellor-Prof. Barnabas Nawangwe (Centre) and UWO President-Dr. Alan Shepard (3rd Left) show off the signed MoU as Left to Right: UWO's Dr. Opiyo Oloya and Dr. Lily Cho as well as University Secretary-Mr. Yusuf Kiranda, UWO's Dr. John Yoo and Head of Advancement-Mr. Awel Uwihanganye witness on 21st March 2024. Frank Kalimuzo Central Teaching Facility, Makerere University, Kampala Uganda, East Africa.

By Carol Kainomugisha

The Vice Chancellor, Prof. Barnabas Nawangwe and the University Management, welcomed a delegation from Western University, Ontario, Canada (UWO), marking an important milestone in the strengthening of international partnerships and collaborations. The week-long visit, characterized by insightful discussions and exchanges with various colleges, departments and units of the University, highlighted various areas of mutual interest and potential collaboration between the two esteemed institutions.

Prof. Barnabas Nawangwe (2nd Right) and Dr. Alan Shepard (2nd Left) sign the MoU as Mr. Yusuf Kiranda (Left) and Dr. Lily Cho (Right) witness. 21st March 2023, Frank Kalimuzo Central Teaching Facility, Makerere University, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe (2nd Right) and Dr. Alan Shepard (2nd Left) sign the MoU as Mr. Yusuf Kiranda (Left) and Dr. Lily Cho (Right) witness.

The delegation was led by President and Vice-Chancellor Dr. Alan Shepard and accompanied by Vice-Provost and Associate Vice-President, Dr. Lily Cho, the Associate Vice-President, Equity, Diversity, and Inclusion, Dr. Opiyo Oloya and the Dean, Schulich School of Medicine and Dentistry, Dr. John Yoo.

The visit culminated with the signing of a new Memorandum of Understanding (MoU) which will most certainly strengthen the already existing relationship between Makerere University and Western University.

The meeting between Makerere University and Western University commenced with the University Management which discussed collaborative opportunities, particularly in engineering, design, and technology, emphasizing interdisciplinary collaboration and knowledge exchange.

Mr. Opio Oloya addressed issues of Inclusivity and diversity in academia, focusing on integrating indigenous knowledge, combating global anti-blackness, and promoting social integration within university communities.

Members of the University Management and the delegation from Western University, Ontario, Canada pose for a group photo at the Makerere@100 Monument. 18th March 2024, Makerere University, Kampala Uganda, East Africa.
Members of the University Management and the delegation from Western University, Ontario, Canada pose for a group photo at the Makerere@100 Monument.

Makerere‘s academic excellence and capacity-building initiatives were showcased, with plans to expand graduate training opportunities and enhance capacity through student and faculty exchanges.

 The meeting concluded with a shared vision for future collaborations, including research projects, academic programs, and student exchanges, reaffirming the commitment to fostering excellence and addressing global challenges through collaborative efforts.

Fostering Global Academic Partnerships: Western University meets Makerere University Colleges and Units.

In a meeting at the School of Law, led by the Principal, Associate Prof. Ronald Naluwairo, the delegation held lengthy deliberations to explore avenues for academic collaboration, embodying the power of international partnerships in academia.

Central to the dialogue was Western University’s interest in global engagement, particularly in internationalization, aligning with Makerere‘s ethos of interdisciplinary collaboration. The meeting highlighted joint research opportunities, staff, and student mobility programs, showcasing a commitment to academic excellence and the potential for cross-cultural learning and growth.

The Principal-Associate Prof. Ronald Naluwairo (5th Left), Deputy Principal-Dr. Zahara Nampewo (3rd Left), Principal CHUSS-Associate Prof. Josephine Ahikire (3rd Right), Head PAF-Dr. Benon Kigozi with other officials and the UWO delegation at the School of Law. 19th March 2024, Makerere University, Kampala Uganda, East Africa.
The Principal-Associate Prof. Ronald Naluwairo (5th Left), Deputy Principal-Dr. Zahara Nampewo (3rd Left), Principal CHUSS-Associate Prof. Josephine Ahikire (3rd Right), Head PAF-Dr. Benon Kigozi (Right) with other officials and the UWO delegation at the School of Law.

During the meeting between the Infectious Diseases Institute (IDI) and Western University, the Executive Director Dr. Andrew Kambugu outlined IDI’s evolution from an academic venture to a multifaceted institution driving service delivery, research, and capacity building in Africa.

Highlighting existing partnerships, particularly in data management with the Faculty of Medicine at Western University, President Alan Shepard underscored the tangible outcomes of cross-border collaboration, with data-driven research initiatives making significant contributions to healthcare and public health interventions. Future collaboration prospects, including exchange programs, joint initiatives, and equipment donations, emphasized a shared commitment to innovative approaches and collaborative problem-solving to address pressing challenges in Africa.

Dr. Andrew Kambugu (4th Left) with other officials and the UWO Delegation during their visit to IDI. 19th March 2024, Infectious Diseases Institute (IDI), Makerere University, Kampala Uganda, East Africa.
Dr. Andrew Kambugu (4th Left) with other officials and the UWO Delegation during their visit to IDI.

Celebrating Collaboration: Farewell Luncheon Honoring Western University Delegation

A farewell luncheon, hosted by Mrs. Lorna Magara, the Chairperson, Makerere University Council, marked the poignant conclusion of the exchange visit with Western University, Ontario, Canada, celebrating the enduring spirit of collaboration and friendship between the two institutions.

Mrs. Lorna Magara (Left) shakes hands with Dr. Opiyo Oloya as Dr. Alan Shepard (Rear Right) and other officials interact. 21st March 2024, Golden Tulip Hotel, Kampala Uganda, East Africa.
Mrs. Lorna Magara (Left) shakes hands with Dr. Opiyo Oloya as Dr. Alan Shepard (Rear Right) and other officials interact.

 As farewells were exchanged, participants left with cherished memories and a renewed commitment to nurturing the partnership for future endeavors, underscoring the power of collaboration to transcend boundaries and create opportunities for growth and learning.

As Western University and Makerere University look ahead, the memories of the week-long strategic visit will serve as a beacon of inspiration, guiding their continued efforts to collaborate, learn, and grow together.

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CTCA Request For Expression of Interest: Finance and Accounts Assistant

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CTCA is seeking the services of a Finance and Accounts Assistant whose overall responsibility will be to provide finance and administrative support to ensure efficient operation of the office. Centre for Tobacco Control in Africa (CTCA), School of Public Health, College of Health Sciences, Makerere University, Kampala Uganda, East Africa.

Institution: Centre for Tobacco Control in Africa (CTCA)
Project Title: Enhance Tobacco Control Institutional Capacity in Africa
Expression of Interest Number: CTCA/EOI/G339/2024

1. Introduction:

The Centre has received funding from the African Capacity Building Foundation (ACBF) for the
2024-2026) to implement a project on institutional development. The project investments are
geared towards sustaining human resource capacity and knowledge generation to reduce use of all forms of tobacco products in Africa.

Specifically, the project aims to:

  1. Enhance training opportunities for African governments and relevant actors in tobacco
    control in the continent.
  2. Increase access to knowledge for guiding tobacco use prevention and control in Africa.
  3. Reinforce the institutional development of CTCA for an optimal performance of its
    functions and processes.

Therefore, CTCA is seeking the services of a Finance and Accounts Assistant whose overall responsibility will be to provide finance and administrative support to ensure efficient operation of the office. The Assistant will support management and other employees on a variety of tasks related to administration, finance, procurement, and communication.

2. Scope of Work

The specific duties include:

  1. Providing support to the accounting and procurement functions through preparing journals and loading payments for review by the budget and finance officer for authorization
  2. Maintain supplies inventory by checking stock to determine inventory level; anticipating needed supplies; placing and expediting orders for supplies; verifying receipt of supplies.
  3. Administer and manage logistics and contracts for services with service providers such as travel agents, hotels, translations and interpretation agencies, office supplies
  4. Maintaining a clean electronic and manual filing system.
  5. Handling communications – Receiving, storing, retrieving, dispatching, organizing documents and other correspondence of the Centre.
  6. Provide secretarial services to CTCA technical meetings.
  7. Assist in the preparation of regularly scheduled reports.
  8. Assist in logistics preparations for meetings, workshops, and missions.
  9. Oversee and supervise the work of junior staff.
  10. Maintain up-to-date employee records.
  11. Any other duties as may be assigned.

See Downloads for detailed advert.

Application deadline: Not later than 17:00 hours on 8th April, 2024.

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CTCA Request For Expression of Interest: Communications Expert

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CTCA is seeking the services of a communications expert to to raise the visbility of the Centre and the knowledge translation of the programmatic outputs. Centre for Tobacco Control in Africa (CTCA), School of Public Health, College of Health Sciences, Makerere University, Kampala Uganda, East Africa.

Institution: Centre for Tobacco Control in Africa (CTCA)
Project Title: Enhance Tobacco Control Institutional Capacity in Africa
Expression of Interest Number: CTCA/EOI/G339/2024

1. Introduction:

The Centre has received funding from the African Capacity Building Foundation (ACBF) for the
2024-2026) to implement a project on institutional development. The project investments are
geared towards sustaining human resource capacity and knowledge generation to reduce use of all forms of tobacco products in Africa.

Specifically, the project aims to:

  1. Enhance training opportunities for African governments and relevant actors in tobacco
    control in the continent.
  2. Increase access to knowledge for guiding tobacco use prevention and control in Africa.
  3. Reinforce the institutional development of CTCA for an optimal performance of its
    functions and processes.

Therefore, CTCA is seeking the services of a communications expert to to raise the visibility of
the Centre and the knowledge translation of the programmatic outputs. The expert will be
engaged on a retainer basis.

2. Scope of Work

The objective of the assignment is to disseminate CTCA work, institutional branding, maintain
the website alive and drum the second Africa conference on tobacco control and development.

  1. Coordinate and oversee the development of the Alternative Livelihoods documentary in Zambia and its dissemination
  2. Develop communication/branding materials such as brochures, banners, policy briefs, newsletter articles, press releases etc
  3. Review and provide updates for the CTCA website
  4. Update CTCA online platforms (twitter, Facebook, Instagram and LinkedIn) on a regular basis through regular monitoring, positing and content development
  5. Provide technical support to ensure that the second Africa Conference on Tobacco Control and Development is organized and help successfully

See Downloads for detailed advert

Application deadline: Not later than 17:00 hours on 8th April, 2024.

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