Connect with us

General

MURBS Declares 34% Fund Value Growth at 7th AGM

Published

on

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.

Article by Public Relations Office

Mark Wamai

Continue Reading

General

Makerere University Unveils Pre-Award Grants Management System

Published

on

Following successful development of the Integrated Electronic Pre-Award Grants Management System for Sponsored Research, the Grants Administration and Management Support Unit (GAMSU) at Makerere University held a dissemination workshop, to onboard the University leadership, principal investigators, researchers, staff and partner institutions.

Held on Friday 6th March 2026, the dissemination workshop provided a platform to demonstrate the Integrated Electronic Pre-Award Grants Management System for sponsored research at Makerere University, and to receive instant feedback from physical and virtual participants.

Participants were drawn from the University leadership, including the Deputy Vice-Chancellor for Finance and Administration, the University Secretary, the Director-Graduate Training, Director-Research, Partnerships and Networking, Principals, Deputy Principals, Deans, Heads of Department, Principal Investigators, researchers, Heads of Administrative Units, representatives from international partner institutions, and members of the Grants Management Steering Committee (GMSC).

Welcoming the internal and external stakeholders to the dissemination workshop, the Head of GAMSU, Prof. Sylvia Antonia Nakimera Nannyonga-Tamusuza, emphasized that feedback from the participants was a vital step, that would not only enrich the grants management and administration processes, but also contribute to refining the system.

Expressing GAMSU’s  commitment to the automation of the entire grants cycle, Prof. Nannyonga-Tamusuza credited the University leadership, the research project team members, and the different units within Makerere University, as well as, international partners, for the support rendered to GAMSU in developing the system.

The Integrated Electronic Pre-Award Grants Management System

Prof. Nannyonga-Tamusuza highlighted that the initiative responds to growing global competition for research funding and longstanding administrative challenges that researchers have faced when accessing and managing grants.

This digital initiative is designed to modernise how the institution handles research funding applications and administrative workflows before awards are granted. The system, aims to streamline the entire grant application lifecycle — from identifying funding opportunities to proposal preparation, compliance review, reporting, and closeout management.

Recognition of the Project team

Headed by Prof. Nannyonga-Tamusuza (Principal Investigator), the project team members include the following: Denis Michael Wamala (I.T Specialist), Prof. Helen Nambalirwa Nkabala (Senior researcher-GMSC), Prof. Charles Masembe (Senior researcher-GMSC), Ivan Mutyaba (Grants Administrator-IREX Alumnus), Mordecai Tayebwa (Grants Manager-IREX Alumnus, Esther Kabinga (Legal Affairs Advisor), Innocent Tumwebaze (Early-Career researcher), Caroline Nabwire (Grants Administrator-GAMSU), Harriet Nambooze (Senior Grants Administrator) , and Victor Chris  Watasa (System’s Design Consultant).

Acknowledgment of funding partners

The development of the Integrated Pre-Award Grants Management System was supported by the International Research and Exchange Board (IREX) through funding from the Carnegie Corporation of New York, with additional contributions from Makerere University.

Institutional leadership welcomes system development

On behalf of the University Management, the Acting Deputy Vice Chancellor (Finance and Administration), Prof. Winston Tumps Ireeta, lauded the Principal Investigator, Prof.Sylvia Antonia Nakimera Nannyonga-Tamusuza and her project team, for the development of the system aimed at digitizing the pre-award grant processes at Makerere University.

Opening the dissemination workshop, Prof. Ireeta, who doubles as the  Chairperson of the Grants Management Steering Committee (GMSC), highlighted that the Integrated Electronic Pre-Award Grants Management System, would significantly benefit Makerere University and the researchers.

Prof. Winston Tumps Ireeta – Acting Deputy Vice Chancellor (Finance and Administration)

Prof. Ireeta emphasized that as Makerere University continues to implement its research agenda, the funding question becomes paramount. Acknowledging that funding through grants significantly facilitates research undertakings at Makerere University, Prof. Ireeta underscored the value of the Integrated Electronic Pre-Award Grants Management System, as an excellent addition, to existing processes aimed at amplifying the research profile of the University, as well as, streamlining grants management and administration.

 “If we maximally utilize the system, the University and its researchers will be better placed to apply, attract and win grants, which will definitely boost the grant and research profile of this institution,” he said.

He encouraged the participants to actively follow the proceedings, and provide constructive input during the feedback session, in order to contribute to the refinement of the system.

Format of the dissemination workshop

The dissemination workshop featured a series of presentations including: Makerere University’s Strategic Research Direction; the Context of Administration and Management of Grants at Makerere University; Project Overview; Purpose and Objectives of the workshop; Overview of the Pre-Award Grants System Development; Technical demonstration of the system; and the Discussion and Stakeholder Feedback session.

The benefits of the system and the challenges it seeks to address

Prof. Nannyonga-Tamusuza, Head of GAMSU and Principal Investigator of the project, explained that the electronic pre-award system addresses several structural challenges in research grant management.

Prof. Nannyonga-Tamusuza, Head of GAMSU and Principal Investigator

She said Makerere University faces increasing global competition for research funding. “Grants have become highly competitive, and we need stronger institutional strategies to support our researchers,” she said.

According to Prof. Nannyonga-Tamusuza, the previous grant management environment was fragmented because different university units operated independent systems. The new platform seeks to streamline processes and support database-driven decision-making for capacity building and institutional planning.

She explained that the system is designed to support researchers even before they begin writing proposals. “Understanding the funder’s requirements is critical. If a researcher does not clearly understand what the funder is asking for, even a well-written proposal may fail to secure funding,” she said.

Dr. Mildred Ochwo Ssemakula – Senior Lecturer & Head of Department (Crop Science and Horticulture contribute to the engagement.

The Head of GAMSU stressed that transparency and accountability were central goals of the system. “With proper work logs and documentation, we can demonstrate accountability in grant administration,” she added.

She noted that principal investigators often require institutional documents such as audit reports and registration information when applying for grants. Centralised data storage, she said, would make such information more accessible.

Support for researchers, not replacement for individual applications

Prof. Nannyonga-Tamuzusa clarified that the system does not eliminate individual grant applications. “GAMSU is providing support to researchers. We want our staff to compete favourably within the global research community,” she said.

She explained that academic staff operate at different career levels. “Some staff are new to research grant applications and may need guidance. Others are experienced. Our role is to provide support whenever it is needed,” she stated

Addressing challenges in grant administration

The Head of GAMSU identified several challenges motivating the system’s development. These include: increasing international competition for research funding, fragmented awareness of funding opportunities across university units, limited coordination between researchers, colleges, and administrative structures, capacity gaps in grant proposal development, heavy reliance on manual administrative processes and limited institutional data for strategic planning.

She pointed out that GAMSU’s role is coordination, compliance, and institutional oversight rather than revenue collection.

Leaders and Researchers urged to adhere to university policies

Presenting the Context of Administration and Management of Grants at Makerere University, Mr. Yusuf Kiranda-University Secretary, articulated that the University Council, approved the Grants Administration and Management Policy in 2020, which provides governance guidance for research funding management. He appealed to participants to always read and make reference to the policy on matters pertaining to grants management and administration.

Mr. Yusuf Kiranda – University Secretary

The University Secretary emphasized that research funds secured through grants are managed on behalf of Makerere University and the Government of Uganda. He therefore, urged researchers and principal investigators to uphold transparency and accountability when managing grant resources. “Funds acquired through grants must be accounted for within stipulated timelines and must demonstrate value for money,” said Mr. Kiranda.

In the same vein, he called upon research teams to follow the university’s human resource recruitment guidelines when appointing project staff.

Mr. Kiranda highlighted the importance of registering all grants managed across university units with GAMSU, noting that centralised oversight supports institutional accountability.

Director of Research highlights strategic research direction

Prof. Robert Wamala, Director of Research, Innovation and Partnerships (DRIP), presented the university’s strategic research agenda. He observed that university partnerships have sometimes been underutilised due to the absence of supporting infrastructure, such as the pre-award system.

The university’s research mandate includes promoting research coordination, strengthening innovation capacity, supporting technology transfer, and mobilising research funding.

Prof. Robert Wamala presented the university’s strategic research agenda.

Prof. Wamala said the university’s research strategy is guided by a 10-year institutional development plan aligned with Uganda’s National Development Plans. “The vision is to build a sustainable, research-led university that produces a highly productive academic workforce and versatile graduates,” he said.

Priority research themes

In his presentation, Prof. Wamala outlined Makerere University’s nine (9) priority research areas for the next five years. These include: Health and health systems; Sustainable urbanisation and housing; Governance, social justice, and equity; Agricultural transformation and food security, Education systems development; Economic growth, business, and innovation; Climate change and natural resource management; Cultural heritage;  and Science, engineering, and technology.

Prof. Wamala encouraged researchers to align proposals with these institutional priorities. He urged academic staff to access university policies available on the official website (https://policies.mak.ac.ug)

Graduate training and institutional coordination

Prof. Julius Kikooma, Director of Graduate Training, said the establishment of GAMSU represents a major cultural shift in research administration.

He explained that earlier academic practice required researchers to independently search for funding opportunities and manage grants. “While that approach sometimes produced successful researchers, it also resulted in inconsistencies in proposal preparation and accountability reporting,” he said.

Prof. Julius Kikooma

Prof. Kikooma emphasized the importance of institutional systems in meeting changing donor compliance requirements. He stated that grant writing involves two equally important components. “Approximately 50 percent depends on scientific proposal quality, while the other 50 percent depends on institutional compliance and administrative coordination,” he said.

He encouraged researchers to integrate GAMSU early in proposal development rather than treating the unit as a final review office.

Strategic investment in research competitiveness

In a document presented by Ms. Ritah Namisango,  Prof. Charles Masembe-a member of the research team outlined the project overview, purpose, and workshop objectives, including system dissemination, stakeholder engagement, and functionality demonstration.

He stated that the electronic pre-award grants system is a strategic investment in Makerere University’s future research competitiveness. The digital transformation in grant administration will improve efficiency, strengthen accountability, and enhance access to funding opportunities.

Deputy Principal of CoBAMS applauds GAMSU Contributing to the discussion and stakeholder feeback session, the Deputy Principal of the College of Business and Management Sciences (CoBAMS), Associate Professor James Wokadala, commended GAMSU for the development of the system aimed at increasing the chances of winning grants.  He appealed to GAMSU to cascade the training to the various units within the University.

Ritah Namisango
Ritah Namisango

Continue Reading

General

Mastercard Foundation Scholars Urged to Embrace Mentorship for Career Growth

Published

on

Mr. Steven Langa addresses the Mentor-Mentee matching session on 7th March 2026. Mastercard Foundation Scholars Program Mentor–Mentee matching session, 7th March 2026, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.

Mastercard Foundation Scholars have been encouraged to embrace mentorship programmes as a way of maximising opportunities for personal and professional growth.

Mentorship is a professional relationship in which an experienced person (the mentor) supports another (the mentee) in developing specific skills and knowledge that enhance both professional and personal growth.

While speaking at a Mentor–Mentee matching session held on Saturday at the Central Teaching Facility, Mr Steven Langa, a counsellor and director at Family Life Network, told scholars that mentorship plays a pivotal role in preparing the next generation of leaders capable of transforming Uganda and Africa.

 “We live at a very challenging time in history, a time when Uganda and Africa have to rise up to the occasion to provide leadership, professional excellence and innovation,” Mr Langa, said.

Some of the Mentors address scholars. Mastercard Foundation Scholars Program Mentor–Mentee matching session, 7th March 2026, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
Some of the Mentors address scholars.

In his presentation, Mr Langa explained that a mentor is not a parent, therapist, or romantic partner, but rather a coach who helps the mentee build essential skills.

 “The mentoring relationship is built on mutual trust, respect and communication and involves both parties meeting regularly to exchange ideas, discuss progress and set goals for further development. A mentor does not need to know, or to provide all the answers; instead, the mentor encourages the mentee to use their available resources to identify solutions,” Mr Langa, noted.

Speaking at the same event, Ms Eva Nabasumba, the Principal Academics and Career Development Officer at the Mastercard Foundation Scholars Program, encouraged scholars to build strong relationships with their mentors, which could later provide credible referees for employment, scholarships and other opportunities.

Ms. Eva Nabasumba. Mastercard Foundation Scholars Program Mentor–Mentee matching session, 7th March 2026, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
Ms. Eva Nabasumba.

She highlighted several benefits of mentorship for mentees, including gaining advice, knowledge and insights from experienced professionals; developing professional communication skills; building valuable industry networks; engaging in employment-related conversations; exploring career pathways; and learning strategies for job searches, résumé writing and interviews.

During the session, mentors introduced themselves to their new mentees, allowing scholars to identify and connect with suitable mentors. Some of the mentors are doctors, teachers, counsellors, engineer’s business people and Accountants.

Apollo Mulondo, one of the mentors, urged scholars to take the mentorship opportunity seriously and respect the time and commitment of their mentors.

Some of the mentees smile for the camera. Mastercard Foundation Scholars Program Mentor–Mentee matching session, 7th March 2026, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
Some of the mentees smile for the camera.

“Some of us are who we are today because of our mentors. Our offices are always open to you, so feel free to visit anytime. It does not matter what your background is you can make it,” Mulondo said.

The mentor–mentee matching session enabled scholars to interact with professionals from different fields, giving them an opportunity to identify mentors whose experience aligns with their academic and career aspirations. The engagement also created a platform for scholars to begin building networks that will support their growth beyond the university.

Carol Kasujja
Carol Kasujja Adii

Continue Reading

General

Mak Cooperative Society holds AGM: Growth, Transparency and Member Welfare Take Centre Stage

Published

on

MUMCS AGM in session. L-R: Prof. Winston Tumps Ireeta (Secretary), Dr. Muhammad Kiggundu Musoke (Vice Chairperson), Prof. Juma Kasozi (Treasurer) and Prof. Fredrick Jones Muyodi (Chair-Supervisory Committee). Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.

“This is a perfectly managed Cooperative Society,” remarked CPA David Ssenoga, amidst applause from Members of the Makerere University Multi-Purpose Cooperative Society (MUMCS).

CPA Ssenoga made the remarks on 4th March 2026 as he presented the Auditor’s report from SDS and Company Certified Public Accountants at the MUMCS Annual General Meeting (AGM).

The Auditor’s report for the year ended 31st December 2025 highlighted adherence to the best corporate governance practices, confirmed proper allocation of funds, value for money, and steady progress.

CPA David Ssenoga presenting the Auditor's Report. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
CPA David Ssenoga presenting the Auditor’s Report.

“The Cooperative Society was found to be in excellent standing, with operations in compliance with International Financial Reporting Standards for SMEs, the Cooperative Societies Act, and relevant Ugandan regulations. The operations are efficient and transparent,” he reported.

Mandate of MUMCS

Chairing the AGM, the Vice Chairperson, Dr. Muhammad Kiggundu-Musoke, underscored that the MUMCS exists to promote the welfare of members. In pursuit of this mandate, MUMCS provides access to affordable credit at interest rates that are significantly lower than those offered by other financial institutions. Such support, he noted, empowers members to strengthen their financial stability, invest in personal and professional goals, and ultimately enhance their overall well-being.

Dr. Muhammad Kiggundu Musoke, Vice Chair. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Dr. Muhammad Kiggundu Musoke, Vice Chair.

Steady progress

Highlighting MUMCS’ steady progress, Dr. Kiggundu-Musoke commended members for the tremendous growth recorded over time. He noted that the cooperative society had grown from handling a few hundreds of thousands of shillings in its early years to managing a portfolio now standing at approximately UGX 3.25 billion, a milestone he described as a reflection of collective effort, prudent management, and sustained member confidence.

He encouraged members to actively promote and popularise the cooperative within their respective departments. He proposed a structured approach of engaging Heads of Department to sensitize staff on the MUMCS’ services and benefits.

AGM highlights

The hybrid AGM, with physical participants assembled in the Main Building Senior Common Room, and virtual participants who followed the proceedings via zoom, provided a platform to review performance, highlight operational successes and governance milestones, as well as, finding solutions to challenges.

Secretary’s report

Presenting the report, MUMCS’ Secretary, Prof. Winston Tumps Ireeta, highlighted the growth in membership to 160, including 27 new recruits –  a testimony to the confidence in the quality of services provided.

Prof. Ireeta excited the members when he mentioned that the 2025 surplus of UGX 291 million was distributed to members, with administrative budgets executed as approved.

Prof. Winston Tumps Ireeta. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Prof. Winston Tumps Ireeta.

On the issue of financial discipline and meeting obligations, Prof. Ireeta notified the members that the Management Committee implemented strategies that ensured compliance. “Outstanding loan arrears were settled through deductions from dividends of the concerned members,” he stated.

The Secretary reported that as approved during the previous AGM, the Vetting Committee consisting of Prof. Helen Nambalirwa Nkabala (Chairperson), Prof. Lawrence Mugisha (Member) and Dr. Alex Okello (Member) had been constituted and has embarked on the tasks as per the terms of reference.

With reference to the Secretary’s report, the Members praised the MUMCS Management Committee headed by Prof. Barnabas Nawangwe, for ensuring the successful implementation of key decisions agreed upon during the previous AGM.

Treasurer’s report

The Treasurer, Prof. Juma Kasozi, provided members with a detailed overview of operations, liquidity, investments, and returns.

Emphasizing MUMCS’ commitment to transparency, Prof. Kasozi noted that the Management Committee ensures that the balance sheets, profit and loss statements, and trial balances are shared monthly with members, which enables them to monitor performance throughout the year.

Prof. Juma Kasozi. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Prof. Juma Kasozi.

Prof. Kasozi explained that the Cooperative Society maintains strong liquidity, with approximately UGX 1.6 billion invested with fund managers and insurance companies. These liquid investments he said, provide a solid foundation to support loans, withdrawals, and operational needs. He encouraged members to increase their savings and shareholdings, in order to strengthen MUMCS’s financial base and enhance lending capacity.

The Treasurer highlighted the Society’s loan products, including instant loans; which provide same-day disbursement and long-term term loans. He reported that in 2025, UGX 479 million was disbursed in instant loans, and UGX 913 million as long-term loans.

He informed the AGM that the major challenge faced during the year 2025, was premised on disruptions in payroll deductions. “Before this setback, payroll deductions generated over UGX 50 million per month.  Due to temporary disruptions, the amount generated reduced to UGX 20 million,” he explained.

The Treasurer briefed the members that discussions with the payroll management team had been successful, and full deductions were expected to resume, a step that would restore the expected income stream of the Cooperative Society.

He re-assured members that despite challenges with payroll deductions, MUMCS remains financially stable, with strong liquidity, robust investments, sound loan recovery mechanisms, and a commitment to member welfare.

He encouraged members to recruit colleagues, increase shareholding, and actively participate in strengthening the Cooperative Society’s growth and impact.

Members applaud the Management Committee

Impressed by the reports presented by the Secretary and Treasurer, the Members praised the MUMCS Management Committee headed by Prof. Barnabas Nawangwe, for the successful implementation of key decisions agreed upon during the previous AGM.

Some of the Members of the Management Committee headed by Prof. Barnabas Nawangwe. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Some of the Members of the Management Committee headed by Prof. Barnabas Nawangwe.

Presentation from the Welfare Committee

On behalf of the Welfare Committee, Ms. Ritah Namisango, commended the Management Committee for effectively implementing the Society’s Welfare Policy. Ms. Namisango noted that the policy stipulates the contribution to weddings, loss of a member, and/or when a member loses a parent, spouse and a biological child. She encouraged the members to read the Welfare Policy in order to tap into the benefits that accrue to them.

“We invite all members to read the Welfare Policy and inform the Management Committee early enough whenever a situation arises. I am glad that, because of transparency and communication through the WhatsApp group, most of you have been notifying the Executive Committee promptly. Most of the Members who have received contributions from MUMCS during such situations, have acknowledged receipt, and gone an extra mile, to send messages of gratitude via MUMCS’ WhatsApp group,” she said.

Ritah Namisango. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Ritah Namisango.

She welcomed the AGM’s approval of an additional UGX 2.5 million allocation to the Welfare Fund, to boost the Cooperative Society’s ability to extend support as well as standing in solidarity with the Members.

The Welfare Committee consists of Ms. Ritah Namisango, Dr. Oscar Mugula and Mr. Michael Kasusse.

Supervisory Committee report

The Chairperson, Prof. Fredrick Jones Muyodi, congratulated the Management Committee and the Members, upon the positive financial performance of MUMCS with a gross surplus of UGX 351,533,935/=, and a net surplus of UGX 49,510,181/= after deduction of all expenses.

Prof. Fredrick Jones Muyodi. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
Prof. Fredrick Jones Muyodi.

Concerned that some members have faced challenges with payroll deductions, the Supervisory committee welcomed the progress reported by the Secretary toward resolving the issue.

He stated that the Committee reviewed the financial proposals presented by the management committee and endorsed the recommended dividend payment of UGX 38,630,000 to shareholders, noting that dividends cannot exceed 10 percent under the law.

In addition, the Committee supported payments to service providers, the purchase of a second laptop to enhance data security, the use of cloud and external storage for safeguarding records, the proposed welfare and AGM budgets, and the allocation of 65% of the gross surplus as return on savings.

L-R: Caroline Kirumira Kwesiga, Claire Nakaseeta, and Fazira Nakabugo-new Members of MUMCS who physically attended the AGM, Senior Common Room, Main Building. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
L-R: Caroline Kirumira Kwesiga, Claire Nakaseeta, and Fazira Nakabugo-new Members of MUMCS who physically attended the AGM, Senior Common Room, Main Building.

The Supervisory Committee consists of Prof. Fredrick Jones Muyodi (Chairperson), Prof. Edgar Nabutanyi (Member) and Dr. Jamidah Nakato (Member).

Closing remarks

Closing the AGM, Dr. Kiggundu-Musoke thanked members for their active participation and challenged them to actively support the growth of the cooperative society. He emphasized that membership growth would not only strengthen the Makerere University Multi-Purpose Cooperative Society’s financial standing, but also enhance dividend returns for all members.

A cross-section of MUMCS members who physically attended the AGM pose for a group photo at its conclusion. Makerere University Multi-Purpose Cooperative Society (MUMCS) Annual General Meeting (AGM), 4th March 2026, Senior Common Room, Main Building, Makerere University, Kampala Uganda, East Africa.
A cross-section of MUMCS members who physically attended the AGM pose for a group photo at its conclusion.

Ritah Namisango
Ritah Namisango

Continue Reading

Trending