General
MURBS Declares 34% Fund Value Growth at 7th AGM
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.
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.
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.
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.
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.”
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.
Article by Public Relations Office
The Vice Chancellor (VC) of Makerere University Professor Barnabas Nawangwe and Members of Management on September 28, 2026 welcomed H.E. Ambassador TAKAHASHI Misako and her delegation in the Council Room at Main Building to discuss ways of deepening their academic and technical collaboration.
H.E. TAKASHASHI is the Director-General/Assistant Minister for African Affairs, in the Ministry of Foreign Affairs of Japan.
In the session, VC acknowledged and appreciated the long-standing partnership between the University and Japanese institutions; both private and government.
“The university has had good relations with the Embassy of Japan, with JICA, and with several other Japanese institutions… When we returned to normalcy after turbulent political years, the Government of Japan was among the first ones to come to revive our excellence… so Uganda has had a very long and friendly relationship with Japan” Prof. Nawangwe remarked.
He further emphasized the historical impact of this support saying “I want to claim that it could have been because of the support that was given to the Department of Geology at that time, that the discovery of oil became possible in Uganda.”
Contributing to the discussions, the First Deputy Vice Chancellor in charge of Academic Affairs (DVCAA), Professor Sarah Ssali shared areas such as Oral and Maxillofacial Surgery as well as Neurosurgery, where Makerere could benefit from Japanese expertise. She added that the Institute of Gender and Development Studies (IGDS) currently enjoys a collaboration with the Tokyo University of Foreign Studies.
Adding on the outstanding partnership, the Deputy Vice Chancellor in charge of Finance and Administration (DVCF&A) Professor Henry Alinaitwe highlighted traffic management as one of the key areas supported, he said “Japan has helped Uganda in the management of traffic…”
Expounding on this, HE. TAKASHASHI said “I just visited the control center for traffic in Uganda. It was built by a Japanese aid… as of today, they are controlling 31 junctions of traffic signals in Kampala City. They are supposed to boost up their activities to cover the entire Kampala city’s traffic systems” a project, she said, the Japanese Government remains committed to.
Continuing, Professor Alinaitwe highlighted Japan’s resilient and strong structures that can withstand earthquakes. He shared that “Japanese are helping us in developing the standards for earthquake design and management.”
Picking it up from here, H.E. TAKAHASHI acknowledged Japan’s proneness to earthquakes, which has led the country to develop leading global expertise in their management. Although Uganda is not comparatively prone to earthquakes, she reaffirmed that “Japan is deliberately thinking about the sustainable development of Uganda”, as a symbol of their friendship with institutions and the young people of Uganda.
She said the Tokyo International Conference on African Development (TICAD) where “President Museveni is a long-standing participant” is a vital platform for addressing Japan’s various interests in Africa. She also talked about the Free and Open Indo-Pacific (FIOP) Principle, and Japan’s three pillars for Africa.
“The three pillars of Japanese foreign policy towards Africa include; realising a continent of peace in Africa, creating a virtuous cycle of growth between Japan and Africa, and finally realising a society where everyone can feel genuine prosperity through empowering young generation for co-creation,” H.E TAKAHASHI noted.
Professor Julius Kikooma the Director for Graduate Training, expressed a need to leverage the partnership further in graduate student supervision, “our biggest area for collaboration should be capacity strengthening through trainings and working together to boost co-supervision of doctoral programs.”
Agreeing with Professor Kikooma, the Principal College of Veterinary and Animal Resources, Biosecurity Professor Clovice Kankya appreciated the support from Japan, particularly in the training of staff.
“A number of our staff have moved to universities in Japan for staff exchange for competence-based kind of training, but also to mention our Japanese counterparts have given a lot of technical support, not only to Makerere College of Veterinary Medicine, Animal Resources and Biosecurity, but also to the Ministry of Agriculture, Animal Industry and Fisheries. This kind of collaboration has resulted to advancing some of the veterinary reference laboratories” Prof Kankya elaborated.
Appreciating H.E. TAKAHASHI’s visit, Prof. Nawangwe expressed gladness that the brief session had brought forth a number important issues for discussion, which will enhance collaborations between Makerere University, the Embassy of Japan, and the people of Japan in general.
Some of the key areas with existing collaborations include;
- Engineering and Infrastructure
- Traffic Management
- Health and Veterinary Sciences
- Students and staff exchange
- Space science
- Disaster prevention
- Capacity building and volunteers
- Library and cultural resources
Makerere currently partners with a number of Japanese Universities including; University of Kobe, University of Tokyo, Kyoto University, Tottori University, among others.
The University Management appreciates the government of Japan for an impactful collaboration over the years as “We Build for the Future.”
Photos by Benite Uwase, Public Relations Office, Makerere University
Kampala – Braving the morning downpour, participants started gathering as early as 5:00 AM. University roads were awash with green and gold kits clad by thousands of runners who gathered at the Hill to participate in the 6th edition of the Makerere Marathon that took place on September 27 2026.
Attendance was representative, with students, alumni, corporate teams and distinguished guests present to run under the featured race categories including the 5km, 10km, 21km, and 42km, alongside a 3km wheelchair race. These options gave persons of different abilities and fitness levels the opportunity to take part.
All races were officially flagged off at the Makerere Main Building parking lot by various dignitaries from Makerere, and partnering institutions led by the Chief Runner, the Speaker of Parliament Rt. Hon. Jacob Marksons Oboth. He was joined by the Chancellor of Makerere University and Second Deputy Prime Minister, Hon. Dr. Crispus Walter Kiyonga.
The other dignitaries that accompanied the Speaker included; Dr Lorna Magara the Chairperson of Makerere University Council, Mr. Mark Anthony Muyobo CEO NCBA Bank Uganda, Mr. Phrase Lubega Managing Director of MTN Mobile Money (U) Limited, and Dr Maggie Kigozi, the Board Chairperson of the Makerere University Endowment Fund (MakEF). Representatives from partner institutions and sponsors for this year’s Marathon were also present to witness the lively flag-off ceremony.
Welcoming the dignitaries who convened in the Vice Chancellor (VC)’s Boardroom, Professor Barnabas Nawangwe echoed Makerere University‘s commitment and deep appreciation for the high-level government and private sector support received during the Marathon.
He reiterated that the institution feels privileged to host the Speaker of Parliament and the Chancellor, who also serves as the Deputy Prime Minister, thanking them for their dedication to flagging off the runners despite the heavy downpour.
The same dedication was on full display throughout all race categories up to the finish line. Large crowds lined the university road sides, cheering wildly, blowing trumpets, and waving flags as the runners made their final sprint. Tired but smiling runners crossed the finish line one after the other, raising their hands in victory.
Impact of the Mak Marathon on Disability Support Centre
The Marathon serves as more than just a sports activity, it comes in as a conduit for institutional progress and student empowerment.
During the Speaker Rt. Hon. Oboth’s guided tour of the Disability Support Centre, the Manager, Ms. Elizabeth Rwabu acknowledged that so far, proceeds from the Marathon have directly transformed their services.
She elaborated, “the Makerere Marathon has been the primary driver of our growth as a centre, allowing us to support approximately one hundred and fifty-five students who rely on our services.”
The highlight of the delegation of distinguished guests and runners visit was a guided tour of the Center’s facilities, where technologies so far secured were displayed and existing as well as future needs were put forth.
She pointed out an all-in-one printer, explaining, “this printer is special because it has regular print. We also use it for large print… and scanning.”
She highlighted the machine used for tactile learning, saying, “we have an embosser here. And when students have their soft copy and hard copy notes, they bring them to the center, and we transcribe them to braille format.”
She also described the emergency solution for mobility, stating, “we also procured electric wheelchairs, which students with disabilities can actually borrow and use.”
Among students who added their voice to Ms. Rwabu’s was Ms. Catherine Nakibuuka, Chairperson of the Makerere University Disability Students Association. She is a student with visual impairment pursuing a Bachelor of Laws (LLB) who volunteered to explain to the Speaker how important some of the machines current in use are;
1. Eye Magnifier – This is a complex machine used to magnify small prints. It assists students who have visual impairments and rely on large print to read.
2. Focus Blue 40 – This is a modern device used for taking notes. It replaces older, large, and noisy Braille machines. It is portable enough to fit in a bag, making it suitable for use in meetings or courtrooms. Additionally, it can connect to a computer to display the Braille information on a screen, allowing sighted individuals to see what the user is reading.
Ms. Nakibuuka expressed deep gratitude for the support received through the Endowment Fund, Makerere University, and the organizers of the Marathon.
She stated, “We love these things,” noting that the Makerere Marathon’s goal to support the center makes education more inclusive.
The sharing by staff and students at the centre moved Dr Maggie Kigozi, who in turn appreciated them noting that “I’m glad to hear we are being useful as the Makerere Endowment Fund” and pledged that the Fund “will continue to work with the centre until they achieve more.”
Institutional Vision
The Chairperson of the Makerere University Council Dr. Lorna Magara acknowledged that the current Student with Disability Support Centre space may not be enough for the entire university.
In the spirit of remedying this, she shared that, “one of our goals is to have these centers in every other department of the university.”
“If we can have four or five or even maybe in every Hall of Residence, a smaller unit like this, then students with disabilities don’t have to walk long distances, that’s our target,” Dr. Magara explained.
Rt. Hon. Oboth Commends Makerere for the Marathon and Inclusivity
The Speaker of Parliament, Rt. Hon. Jacob Marksons Oboth thanked the leadership for the Marathon, stating, “we want to thank the leadership of this university for innovative leadership that has brought the sixth Makerere Marathon to fruition.” He added that it is “gaining traction and momentum” and is “going a long way in creating awareness for persons with disability and its other yearly themes.”
While touring the Disability Centre at the Frank Kalimuzo Central Teaching Facility, Rt. Hon. Oboth addressed the students with disabilities, and emphasised a distinction between sympathy and compassion, noting, “what the students with disability need is not our sympathy. you need our compassion. You need the support. Sympathy will not help because it varies, but compassion remains.”
Regarding Parliamentary support, the Speaker made an individual contribution and also pledged, “as Parliament of Uganda, we are here to support the cause.”
He specifically invited the University to partner with Parliament for future events, saying, “we want to further pledge that for the next Marathon, please work with us through the Clerk of Parliament, so that we can take center stage.”
On a lighter note, he encouraged the students with disability to persevere, remarking, “after all, Makerere University is built on a hill, so every day you climb the hill, you are breaking a barrier. So take those barriers as a hill you are breaking.”
Makerere Marathon from a Student with Disability’s Perspective
Nalumansi Sharon, a student with disability in her third-year pursuing a Bachelor of Applied Psychology secured first place in the 3-kilometer wheelchair race. Beyond her athletic success, Sharon is a passionate advocate for fellow students with disabilities.
In an interview with Makerere Public Relations team, Sharon confessed that her personal motivation to participate in this event was the appreciation of challenges faced by persons with disabilities and desire to contribute to causes that support her peers.
“It feels good to be part of this mobilisation because I also have a disability, and I feel good if I do something that will help my other colleagues,” Sharon confessed.
She added that Makerere University‘s hilly terrain makes mobility difficult but with resilience, students with disability can overcome. She urged donors to contribute toward electric wheelchairs, which would significantly improve students’ ability to study and navigate campus.
Sharon therefore appreciated the Makerere University Endowment Fund for bringing together sponsors and the general public to raise funds for the betterment lives of students with disability at Makerere.
As the conversation deepened, Sharon praised the Makerere Disability Support Center for providing an environment where students with disability can complete coursework, receive guidance, and access printing services, allowing them to focus on their studies without unnecessary distractions.
She concluded by praying that God blesses all who pool their resources for the good of Persons with Disability.
Sponsors’ Inspiration to partner and support Mak Students with Disability
Speaking at the launch on July 1, 2026, Mr. Mark Muyobo, the Chief Executive Officer of NCBA, the Platinum Sponsor of the Makerere Marathon, highlighted that the partnership reflects a shared belief in the power of education to shape the future.
He said “our partnership with Makerere University is founded on a shared conviction that education remains one of the greatest investments any nation can make. For generations, Makerere has produced leaders, innovators and professionals who continue to shape Uganda and Africa. Supporting its future is an investment in our country’s future.”
In an interview, the Managing Director Mr. Phrase Ronald Lubega emphasized that MTN Mobile Money is driven by the belief that every Ugandan deserves the benefit of a modern quality of life.
He stated that MTN aims to positively impact communities within Uganda, ensuring they are healthy, supported, and progressing. By focusing on these areas, the company believes they help communities serve the country more effectively.
Beyond their core mobile money services, Lubega highlights the importance of connecting people through initiatives like sports, which help individuals integrate and network. He explained that these connections are essential for innovation and moving forward.
Organised through the Makerere University Endowment Fund (MAKEF) together with partners, this 6th edition will equip Makerere University’s Disability Support Centre and provide students with disabilities with assistive equipment that enables them to read, type, and hear university assignments and participate more fully in academic life.
This initiative reflects Makerere’s commitment to ensuring that disability does not become a barrier to accessing quality university education.
Photography by Benite Uwase, Public Relations Office, Makerere University
View Flickr Album: https://flic.kr/s/aHBqjD68fW
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