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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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Call for Applications: Admission to Postgraduate Programmes 2026/2027

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SoL Graduands celebrate after being conferred upon their awards. 75th Graduation Ceremony, Day 1, CoCIS, CEES, CoVAB and School of Law. 13th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

The Academic Registrar, Makerere University invites applications for admission to Graduate Programmes (Postgraduate Diplomas, Masters and Doctoral Degree Programmes) for the 2026/2027 Academic Year. Applicants should have obtained at least a first or second class degree (or its equivalent) from a Chartered University at the time of completion. Applicants should also possess a Uganda Certificate of Education (or its equivalent) and a Uganda Advanced Certificate of Education (or its equivalent).

Sponsorship:

All Graduate Programmes are PRIVATELY-SPONSORED. Therefore, applicants seeking sponsorship should have their applications endorsed by their respective sponsors where applicable. Applicants should note that the various fees payable to the University indicated for the various programmes EXCLUDE functional fees, accommodation, books, research and other expenses.

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Simon Mungudit: Mak’s Best Performing Male Science Student & Rising Star in Petroleum Geoscience

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Simon Mungudit emerged the best performing male science student this year. He is set to graduate from Makerere University, Kampala Uganda, East Africa on 24th February 2026 in the Freedom Square.

At just 24 years old, Simon Mungudit from the College of Natural Sciences (CoNAS) has etched his name in the academic history of Makerere University, having emerged as the overall best male student in the Sciences, an achievement earned through perseverance, discipline, and an unrelenting pursuit of excellence.

Mungudit is set to graduate during 76th graduation ceremony scheduled for 24th to 27th February 2026, having attained a CGPA of 4.76 in the Bachelor of Science in Petroleum Geoscience and Production. His academic interests-Reservoir Engineering, Petrophysics, and Drilling-reflect a deep understanding of the subsurface sciences that power modern energy systems.

Early Life and Journey to Academic Excellence

Born to Mr. Owor Thomas, a Game Ranger with the Uganda Wildlife Authority at Murchison Falls National Park, and Ms. Lilly Obewun Grace of Akuru Bridge Village, Nyaravur Sub-County in Nebbi District, Mungudit’s journey to academic excellence began far from the lecture halls of Makerere. At Karuma Primary School, Mungudit scored 12 aggregates in the Primary Leaving Examinations (PLE), setting the pace for his future success. He proceeded to St. Daniel Comboni College, Nebbi, where he attained 14 aggregates in 8 subjects at O’ Level. He then joined Namilyango College, one of the best secondary schools in Uganda, where he studied Physics, Chemistry, and Mathematics (PCM) and scored 19 points, results that secured him government sponsorship to pursue a Bachelor of Science in Petroleum Geoscience and Production at Makerere University.

Gratitude to his mentors and sponsors

Behind these milestones lies a story of humility, gratitude and opportunity. Mungudit credits his parents for supporting his primary and O’ Level education and expresses gratitude to TotalEnergies, which provided a full bursary for his A’ Level studies, covering tuition, upkeep, and medical care. He also acknowledges the Government of Uganda for sponsoring his university education, a factor he says motivated him to excel.

At Makerere, Mungudit thrived in an environment that blended rigorous academics with mentorship. He pays tribute to his lecturers, particularly Dr. Arthur Batte, Head, Department of Geology and Petroleum Studies, for their unwavering commitment to nurturing students and pushing them to excel.

“I always aimed to excel,” Mungudit says. “Together with a few colleagues, we formed a group and held discussions on a daily. This, coupled with a conducive study environment, prayer, and discipline, enabled us to attain excellent grades.”

Dr Arthur Batte describes Mungidit as a humble yet very intelligent student.

Achievements and Professional Experience

Beyond academics, Mungudit consistently demonstrated expertise in petroleum engineering. In 2024, he led a team that won the Reservoir Modelling Challenge, organized by the American Association of Petroleum Geologists (AAPG) Makerere University Chapter, earning prize money and a sponsored field trip to the Tilenga Project courtesy of COSL. He was First Runner-Up in the Petro Bowl competitions of 2023 and 2025, a highly competitive petroleum knowledge quiz organized by the Society of Petroleum Engineers (SPE) Uganda Section. He served as a Student Officer for the SPE Makerere University Chapter in 2023, and in 2024, he chaired the Organizing Committee of the SPE Annual Students’ Technical Conference and Exhibition, helping bridge the gap between academia and industry.

His learning extended beyond the classroom. During his internship, he worked with TotalEnergies, where he applied petrophysics skills to analyze gas-while-drilling data for formation evaluation, hands-on exposure that sharpened his professional competence. At Makerere University, he mastered PetroMod 2018, a critical software tool in oil and gas exploration. After completing his studies in June 2025, Mungudit trained with the Uganda National Oil Company (UNOC), participating in the 2D seismic acquisition in the Kasurubani Block in Buliisa and Hoima districts.

Mungudit currently works as the Special Projects Coordinator for the Society of Petroleum Engineers (SPE) Uganda Section Student Liaison Committee.

Future Plans

Mungudit hopes to work in the oil and gas industry in the upstream sector as a geoscientist. He also plans to pursue further studies in petroleum engineering.

From a village in Nebbi to the forefront of petroleum geoscience, Mungudit’s story is one of an opportunity seized and potential realized. It is a testament to what is possible when talent meets support, and when determination is guided by faith, mentorship, and service. As Uganda’s oil and gas sector continues to evolve, Mungudit stands as a symbol of the skilled, principled professionals poised to shape its future.

The CoNAS fraternity congratulates Mungudit on this noble achievement.

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Hasifa Kabejja

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Press Statement: Makerere 76th Graduation Ceremony

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Prof. Barnabas Nawangwe (Centre) presents one of the printed batches of transcripts the Registrar College of Computing and Information Sciences (CoCIS)-Ms. Ruth Iteu Eyoku (2nd Right) as Right to Left: DVCAA-Prof. Sarah Ssali, AR-Prof. Buyinza Mukadasi and Ms. Prossy Nakayiki witness on 28th January 2026. Vice Chancellor's Press Briefing on the 76th Graduation due to be held 24th-27th February 2026 at Makerere University, Kampala Uganda, East Africa.

Makerere University’s 76th graduation ceremony will be held from February 24th – 27th, 2026, at the Makerere University Freedom Square, starting at 8.30am. During the 76th graduation ceremony, we shall confer degrees and award certificates to 185 PhDs, 2034 Masters, 6,043 bachelors, 137 postgraduate diplomas and 33 diplomas.

I am proud to announce that in comparison to the 75th graduation, we have registered a 30% growth in graduate student output. This is a result of our strategic decision to prioritize graduate education per our research-led agenda.

I also wish to announce that the transcripts have been finalized and are ready for pick up. Today, I am handing over the ready transcripts to the College principals and can be picked up from respective Colleges even before the graduation ceremony.

Important to Note:

In preparation for the graduation ceremony, the University wishes to note the following:

  1. Pre-graduation clearances
    Graduands are reminded to clear all necessary payments such as tuition and all graduation
    fees. It is also important to check with your College to ensure your name is on the graduation
    list and all mandatory clearances with university officials have been finalized. Note and
    internalize the graduation schedule (attached) to know which day you are graduating.
  2. Securing the graduation gowns
    Graduation gowns will be issued starting from 2nd February 2026 from the University Hall (Dinning Hall), Monday to Friday, from 9am to 4pm. To collect your gown, check and ensure your name appears on the Senate Graduation list, present your student number or National ID, and proof of payment for the gown.
  3. Security requirements
    • Attendance: For each day of graduation, entrance to the graduation ground will be by invitation only. Graduands will be issued with invitation cards which permits two guests per graduand. Do not come with more than two people or they will not be allowed access to the graduation venue. Graduands are encouraged to arrive to settle at the Freedom Square by 7am on graduation day to for a seamless flow of planned activities including the necessary security checks.
    • Prohibited items: Prohibited items include firearms, sharp instruments like mirrors and knives, alcohol, cell or batteries and chemicals, canned food and drinks, laptops, flashes and hard disks, radios including pocket radios, bottled drinks, cameras, large bags or any other heavy items.
    • Media: All media and journalists who wish to cover the ceremony must be pre-accredited by the Makerere University Public Relations office or they will not be allowed to access the ceremony venue. The access point for accredited media personnel will be the Senate Building.
    • Parking: There will be two designated parking areas; Rugby Grounds for those coming through the Eastern and Main Gate; and the second one is the Makerere University Main Grounds at Makerere College School. For VVIPs, VIPs and procession parking will be at CTF1, Directorate of Legal parking, St Francis and St Augustine parking, JICA and Senate Building.
    • Access Control: To ease traffic flow and management, the University has planned three access points to the graduation venue: the School of Social Sciences, Senate Building and the University Swimming Pool.
  4. For help and inquiries
    • Starting February 2, 2026, the Academic Registrar ’s Office and Graduation Committee will set up an information tent outside the Senate Building to provide guidance and handle all inquiries pertaining to graduation.


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