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 Fees Waiver for 40 First Year Female Students 2025/2026

Published

on

Makerere University Tuition and Functional Fees Waiver is a Scholarship Scheme that was initiated by Makerere University Gender Mainstreaming Directorate and was approved by the Makerere University Council in December 2010. The Scheme supports bright female students from disadvantaged socio-economic backgrounds to access education at Makerere University. The University waives off tuition and functional fees for the duration of the study of the beneficiaries of the scheme. With effect from 2021/2022 academic year, the Scheme has offered waiver of tuition and functional fees for 40 female students joining the University who meet the criteria. All Programmes in the Colleges at Makerere University Main Campus and at Makerere University Jinja Campus are eligible for this Scholarship support. These scholarships are administered by the Gender Mainstreaming Directorate, Makerere University. Persons with disabilities are highly encouraged to apply.

ELIGIBILITY

Scholarship applicants should meet the following criteria:

  1. Should be female of Ugandan Nationality
  2. Should be a first-year student admitted at Makerere University Main Campus and Jinja Campus for the academic year 2025/2026 under the Direct Entry Scheme.
  3. Should be from a genuinely disadvantaged socio-economic background.
  4. Those not admitted on Uganda Government sponsorship to any public university.
  5. Those who do not hold any other scholarship e.g. District Scholarship
  6. Must be willing to participate in a selection process as shall be determined by the Gender Mainstreaming Directorate Scholarship Committee.

THE SCHOLARSHIP APPLICATION FORM SUBMITTED SHALL BE DEEMED COMPLETE ONCE IT CONTAINS THE FOLLOWING ATTACHMENTS;

  1. Copies of ‘O’ and ‘A’ level academic documents.
  2. One Passport size photograph.
  3. A Copy of the applicant’s birth certificate.
  4. Incase of deceased parent (s), a copy of death certificate(s)
  5. A hand drawn physical map of an applicant’s home/residence with clear directions of how to get to that home or residence from the nearest main road (indicate approximate distances in kilometres).
  6. A copy of the admission letter to Makerere University.

The scholarship covers only tuition and functional fees. The applicant must be able to pay for their feeding, accommodation and other learning necessities required by the University for the duration of the study period.

Interested and eligible applicants can pick application forms free of charge from the Gender Mainstreaming Directorate, Senate Building, Level 4, Room 402 OR download a copy from the Makerere University Website: https://mak.ac.ug/

You can also access more information on our X handle @MakerereGMD

For more information or inquiries, please contact us using the following contacts:

Office Mobile Numbers: +256702960616 / +256781866728
Email Address: director.gendermainstreaming@mak.ac.ug

The Application deadline is Monday, 8th August 2025 at 5:00pm.

Euzobia Mugisha Baine (PhD)
Chief Gender Mainstreaming Officer

Mak Editor

Continue Reading

General

Korean Language Courses-Semester

Published

on

Students walk into the Arts Quadrangle, College of Humanities and Social Sciences, Makerere University, Kampala Uganda, East Africa.

Centre for Language and Communication Services (CLCS), College of Humanities and Social Sciences (CHUSS) Makerere University in collaboration with the Korea International Cooperation Agency (KOICA) invite applications for Korean Language Classes for students and members of the public.

Courses by Level

  • Beginner
  • Elementary
  • Intermediate
  • Online
  • TOPIK

Instructor: Wongo Yoon wongoyoon@gmail.com

Registration is open, you can register to join the class at any time.

Registration:

To register, call the Centre for Language and Communication Services (CLCS): +256 756 12 8046 / +256 775 424704

Fee: UGX 80,000 a semester

For more information Whatsapp: +256 790 505658 (Yoon) / +256 757 710511 (Mariam)

See downloads for Class Timetable

The Korean Corner is located on the 2nd floor of the Main Library at Makerere University.

Mak Editor

Continue Reading

General

NCBA Commits UGX 1.45 Billion to Makerere Marathon, Pledges Five-Year Support for Inclusive Education

Published

on

Prof. Barnabas Nawangwe (C) flanked by Dr. Maggie Kigozi (R) and Mr. Mark Muyobo (L) on 9th July 2025 at Makerere University. Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon unveiling of NCBA Bank Uganda as Platinum Sponsor with UGX 1.45 Billion over five years, 9th July 2025, Kampala, East Africa.

By Eve Nakyanzi and Atwenda Nancy

Makerere University has officially unveiled NCBA Bank Uganda as the platinum sponsor for the 2025 Makerere University Marathon (#MakRun2025), marking a significant milestone in the institution’s journey toward inclusive and sustainable student support. The partnership was formally announced during a colourful event held at the university, attended by the Vice Chancellor, Prof. Barnabas Nawangwe, Dr. Maggie Kigozi, Chairperson of the Makerere University Endowment Fund, and NCBA Bank Uganda CEO, Mr. Mark Muyobo.

NCBA Bank Uganda’s UGX 1.45 billion sponsorship over the next five years is the largest corporate contribution to the Makerere Marathon to date. It underscores the bank’s commitment to supporting quality education, community development, and equity.  Mr. Muyobo said that, “We are driven by the desire to leave every community better than we found it”. He added that the goal is to empower disadvantaged students to live without limitations, describing this initiative as a bold stride toward establishing a world-class international marathon.

Left to Right: Mr. Mark Muyobo, Dr. Maggie Kigozi and Prof. Barnabas Nawangwe pose for a photo at the Main Building entrance. Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon unveiling of NCBA Bank Uganda as Platinum Sponsor with UGX 1.45 Billion over five years, 9th July 2025, Kampala, East Africa.
Left to Right: Mr. Mark Muyobo, Dr. Maggie Kigozi and Prof. Barnabas Nawangwe pose for a photo at the Main Building entrance.

“This is more than just a sponsorship, it is a strategic partnership built on shared values,” Dr. Kigozi remarked. “With this support, we are positioned to establish a fully equipped Disability Support Unit and a sustainable pool of funds to assist economically disadvantaged students.”

The marathon, slated under the theme “Run the Hills for the Future,” seeks to unify students, alumni, corporate entities, and professional athletes in pursuit of a common cause. At its core, the MakRun2025 promotes active lifestyles, social inclusion, and a sense of communal responsibility.

“It’s not just a race,” Prof. Nawangwe emphasized. “It is a movement to break barriers, change lives, and build a resilient, inclusive university.”

Prof. Barnabas Nawangwe poses with the #MakRun2025 photo frame. Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon unveiling of NCBA Bank Uganda as Platinum Sponsor with UGX 1.45 Billion over five years, 9th July 2025, Kampala, East Africa.
Prof. Barnabas Nawangwe poses with the #MakRun2025 photo frame.

The marathon’s broader impact includes fundraising for students living with disabilities and those facing financial hardship, contributing directly to the university’s Endowment Fund.

A major highlight of the event is the introduction of a full 42.2-kilometer marathon—bringing international standards to the annual run. Organizers have promised a professional, accredited experience with traffic-free routes and ample support for runners.

“This edition will elevate the MakRun into a world-class event,” said Mr. Muyobo. “We are proud to support Makerere University in realizing its dream of a globally recognized marathon that reflects Uganda’s commitment to education and inclusivity.”

Beyond the race itself, the event will feature a vibrant line-up of activities, including music, drama, and games for all age groups. It is designed to foster a festival-like atmosphere that welcomes every member of the community.

Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon unveiling of NCBA Bank Uganda as Platinum Sponsor with UGX 1.45 Billion over five years, 9th July 2025, Kampala, East Africa.
Officials pose with runners in the Freedom Square.

Organizers and university leaders have extended an open invitation to students, staff, alumni, corporate partners, and Kampala residents to participate, cheer, or donate to the cause.

“Every step taken is a step towards hope for a student,” Dr. Kigozi stated. “Together, we are building a Makerere that cares, includes, and uplifts.”

The partnership is expected to significantly enhance the university’s ability to support underprivileged students and improve campus infrastructure for students with disabilities. It also sets the tone for future collaborations that align with the values of compassion, excellence, and innovation. The fifth edition of the MakRun is scheduled to take place on August 17th, 2025.

The Writers are Interns in the Public Relations Office, Makerere University

Mak Editor

Continue Reading

Trending