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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.

Article by Public Relations Office

Mark Wamai

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Special Exam Results -Diploma in Performing Arts 2025/26

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The results for the 2025/2026 special entry examination for the Diploma in Performing Arts held on Saturday 17th May, 2025. Candidates who scored a final mark of 50% and above passed the Examination and have been recommended to the university’s Admissions Committee for consideration.

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Mature Age Scheme Exam Results for 2025/2026

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The Office of Academic Registrar, Makerere University has released full results for the Mature Age Entry Scheme Examinations for the Academic Year 2025/2026 held on Saturday 14th December, 2024.

The Candidates who scored a final mark of 50% and above passed the examination and have been recommended by the Pre-Entry & Mature Age Committee to the University’s Admissions Board for Consideration.

The Aptitude Exam  Results for 2025/2026 Academic Year released in February 2025 can be found here.

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Call for Application: 2025 SNRM session 4 Summer School

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Participants in focused group discussions. Leiden-Delft-Erasmus East Africa Research Network (LEARN) in collaboration with the Urban Action Lab at Makerere University a workshop to deliberate strategies for mitigating the impacts of climate change in urban centres in the East African Region, Theme: “Resilient Urban Futures: Adapting Livelihoods to Climate Change”, 4th-5th September 2024, School of Public Health Auditorium, Kampala Uganda.

Context:
Natural resources in Africa are being depleted at an alarming rate due to several factors, including unsustainable human activities, climate change, and population growth. A primary condition of sustainable development is to ensure that the pressures do not exceed the environmental limits, and that demand for the resources does not exceed levels that can be sustainably provided by nature. Therefore, there is a pressing need for transformative, systems-thinking approaches and tools that can tackle the diverse challenges facing these systems. In Africa, this need is compounded by a lack of data and monitoring, which significantly hinders sustainable decision-making.

Investing in young scientists who are committed to take lead in sustainable management of Africa’s natural resources is very important. Capacity building of young scientists will enhance their knowledge and skill on sustainable natural resources and their involvement for implementation of the sustainable development goals (SDG’s) in Africa. To this effect, SNRM summer schools have been implemented in three sessions in 2019, 2020, and 2022 with support from Volkswagen Foundation; to build a critical mass of skilled and competent young natural resource scientists in Africa through training, capacity building and mentorship. Session 4 (2025) will target competent young scientists (MSc and PhD students) in Africa and Germany to further develop their knowledge and skills in systems thinking, advanced data collection and analysis, and application of emerging digital technologies such as Artificial Intelligence (AI), machine learning (ML), internet of things (IoT), and embracing transdisciplinary approaches. In addition, we include an ideation workshop where students can work on real problems to come up with solutions for sustainable transformations in natural resource use.

Organizers: Leibniz Universität – Hannover (Germany), University of Antananarivo, University of Abomey Calavi (Benin), Makerere University (Uganda), University of Ghana (Ghana), University of Parakou (Benin), The Technical University of Kenya, with financial support from the Volkswagen Foundation (Germany).

Venue and dates: Nairobi, Kenya, 16-28 November 2025

Target: MSc and PhD students, early in the program of less than 35 years of age from any university/research institution in either sub-Saharan Africa or Germany with an interest in natural resources management.

Participants and Scholarships: The course is fully funded and open to 20 MSc and PhD students from Africa, and 5 from Germany. Funding will cover the costs of air ticket, accommodation, meals, visa, and transportation. However, participants will cover the cost of their travel health insurance.

Topics

SNRM Summer School Session 4: Transformative pathways in biodiversity management and conservation.
This summer school is designed to deliver four modules over a two-week period. The modules are designed to enable the students to acquire new ways of designing data collection protocols and analysis for transformative sustainable natural resources management.

Module 4.1: Data collection I
Skills in data collection for a transformative and sustainable management of natural resources (water, wildlife, forest, land, livestock, crops) monitoring and data collection techniques; remote monitoring tools, earth observation system data, e.g. satellite data sources, LIDAR, and UAV aerial images. Collect and analyse In-situ data on biotic and abiotic parameters, map and analyse data using R or Google Earth Engine, field data collection and retrieving data from online databases.

Module 4.2 Data management and processing
Introduction to tools and methods of managing large and diverse data sets of natural resources such as time series, spatial, directional, and multivariate data. Practicals will include data storage, organization and conversion into various formats using databases such as PostgreSQL and statistical programming software such as R and Python; scripts.

Module 4.3 Ecological monitoring, modelling and management
This module aims to teach participants how to anticipate and validate trends that can be observed in various ecosystems. Lectures include ecological monitoring and its design; population monitoring studies; metrics in population monitoring; methods for monitoring and assessing marine ecosystems; human ecology to socio-ecological systems; climate change impact of ecosystems; suitability assessments; overview of the principles underlying wildlife monitoring and prediction systems for climate change adaptation. Practicals will include field data collection (individual and group); ecological data analysis using R or PAST; modelling and experiencing the behaviour of complex systems using Vensim.

Module 4.4 Natural habitat restoration ideation lab
This module is designed to spur students’ innovation and creativity, and to help students comprehensively identify interdependencies across the 17 SDG goals. Participants will be trained on ideation processes for solutions and intervention for transformative natural resource management. They will work collaboratively in small groups on case studies and develop pathways of transformative sustainable natural resource management. Examples of projects include forest (mangrove) ecosystem and habitat restoration, improved technologies for agricultural production, nature-based solutions for improving water quality, and reversing land degradation.

Language: The course will be delivered in English. Participants are expected to be fluent in writing and speaking the English language.

How to apply

Applicants are kindly requested to fill in the application form available from https://snrmafrica.com/ and submit the following documents in English through the system.

  • a curriculum vitae (maximum 2 pages)
  • a letter of motivation (maximum 1 page)
  • a confirmation of university enrolment
  • a reference letter from the academic supervisor
  • project summary of MSc/ PhD project (1 page including objectives, methodology
    and key findings or expected outcomes).

Important dates
Application deadline: 30th June 2025.
Announcement of accepted applicants: 15th August 2025.
Confirmation of attendance by selected participants: 12th Sept 2025.
Summer school held: 16 – 28 Nov 2025.

Further information is available from

The secretariat info@snrmafrica.com
Dr Lydia Olaka lydiaolaka@tukenya.ac.ke
Prof. Dr. Hartmut Stuetzel stuetzel@gem.uni-hannover.de

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