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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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Press Release: Government of Uganda and Partners Launch SAY Plus+ to Scale Youth Sexual Reproductive Health & Rights (SRHR) Impact in Underserved Regions

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Hon. Margaret Muhanga assisted by Dr. Charles Olaro officially launches the SAY Plus+ Programme as L-R: Amb. Signe Winding Albjerg, Amb. Frederieke Quispel, Ms. Kristine Blokhus and Prof. Henry Alinaitwe witness. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.

USD 50 million national programme moves into full implementation, strengthening
adolescent and youth rights, empowerment, protection and access to youth-responsive
services in 13 districts across five sub-regions

KAMPALA, 7 MAY 2026: The Government of Uganda, through the Ministry of Health, today officially launched the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda’s underserved regions.

The launch, held at Makerere University‘s Freedom Square under the theme “My Voice Matters: Youth Voices for SAY Plus+” and the tagline “Nothing for us, without us”, marks the programme’s transition into full implementation.

SAY Plus+, formerly known as Strengthening Adolescents and Youth Rights and Empowerment: Scaling Impact, is led by the Ministry of Health, in coordination with other Ministries, with UNFPA Uganda serving as the Managing and Technical Agency.

Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, the initiative is scheduled to operate between 2024 and 2030. It is currently being rolled out across thirteen districts within five sub-regions, providing targeted assistance to regional referral hospitals in Jinja, Mbale, Moroto, Yumbe, Arua, and Gulu. Furthermore, the programme supports the Human Capital Development goals established in Uganda’s National Development Plan IV.

“SAY Plus+ represents a shift from fragmented interventions to a coordinated national effort that meaningfully places young people at the centre of both design and delivery. Through our partnership with the Government of Uganda, development partners, and implementing partners, we are investing not only in services, but in the systems, communities, and environments that enable adolescents and young people to thrive not only today but also in the future,” said Ms. Kristine Blokhus, Representative – UNFPA Uganda.

Officially launched by the Minister of State for Health Hon. Margaret Muhanga, the SAY Plus+ programme targets adolescents and young people aged 10 to 24 years, with particular focus on adolescent girls and young women, refugees and host-community youth, out-of-school young people, those not in employment, education or training, adolescents with disabilities, and young people in humanitarian and post-conflict settings.

“For many of us, things like this one are designed without listening to what we go through every day, think or even feel. SAY Plus+ feels different because it starts with our voices and gives us a real role in shaping solutions. It is not just about information, it is about being supported to make decisions, access services, and build the future we want.” – Jovia Dranzoa, Young person.

SAY Plus+ operates through three pillars. First, it empowers youth to exercise their rights and make informed choices. Second, it engages families, communities, and leaders to address harmful social norms. Third, it strengthens youth-responsive SRHR, HIV, and gender-based violence services via health facilities and community platforms, aiming to reach over 2.3 million direct and indirect beneficiaries.

The SAY Plus+ initiative stands as a model of international cooperation and multi-sectoral synergy. Through the combined support of the Governments of Iceland, Denmark, the Netherlands, and Sweden, and the technical leadership of UNFPA, Uganda is now equipped to scale-up critical interventions in HIV prevention, gender-based violence response, and reproductive health. With implementation now in high gear through 2030, the programme is poised to make a lasting contribution to the nation’s human capital development goals.

— ENDS —

Photos from the event

Prof. Henry Alinaitwe addresses participants at the launch. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
Prof. Henry Alinaitwe addresses participants at the launch.

Ms. Kristine Blokhus. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
Ms. Kristine Blokhus.

Part of the audience at the event. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
Part of the audience at the event.

Some of the young people that attended the event. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
Some of the young people that attended the event.

Prof. Henry Alinaitwe signs the commemorative piece. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
Prof. Henry Alinaitwe signs the commemorative piece.

L-R: Prof. Henry Alinaitwe, Dr. Charles Olaro, Hon. Margaret Muhanga, Amb. Signe Winding Albjerg, Amb. Maria Håkansson, Amb. Frederieke Quispel, Amb. Unnur Orradottir Ramette, Ms. Kristine Blokhus and a young lady during the press interviews. The Government of Uganda, through the Ministry of Health officially launches the SAY Plus+ Programme, a Sexual and Reproductive Health and Rights (SRHR) initiative designed to strengthen adolescent and youth rights, empowerment, protection and access to quality services in Uganda's underserved regions, Backed by a USD 50 million pooled fund from the Governments of Iceland, Denmark, the Netherlands, and Sweden, scheduled to operate between 2024 and 2030. 7th May 2026, Freedom Square, Makerere University, Kampala Uganda, East Africa.
L-R: Prof. Henry Alinaitwe, Dr. Charles Olaro, Hon. Margaret Muhanga, Amb. Signe Winding Albjerg, Amb. Maria Håkansson, Amb. Frederieke Quispel, Amb. Unnur Orradottir Ramette, Ms. Kristine Blokhus and a young lady during the press interviews.

Mak Editor

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Notice: Medical Review Exercise for Persons with Disability 2026/2027

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Makerere University Students in a discussion group.

The Academic Registrar, Makerere University invites persons with disability who applied for admission to public universities under the disability entry scheme for 2026/2027 Academic Year to appear for medical/review exercise at Makerere University, Senate Building, Level Four Conference Hall.

NOTE: Only those who have the minimum entry requirements of at least two principal passes at A’ Level or its equivalent and at least five (5) passes at O’ Level or its equivalent will be interviewed.

 Only candidates who sat ‘A’ level in 2025, 2024 and 2023 are eligible for admission.

THE EXERCISE WILL BE CONDUCTED ON 18th, 19th, 20th, 21st and 22nd May, 2026 respectively from 9.00 A.M – 1.00 P.M each day.

See details below:

IMPORTANT:

(i) If you fail to appear on any of the given days above, there will be no other chance for you this year.

(ii) Applicants with other Government Scholarships are not eligible for admission through the Disability Entry Scheme

Prof. Mukadasi Buyinza
ACADEMIC REGISTRAR

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Leading with Purpose: Guild President Ssentamu Churchill James Reflects on His Term

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H.E. Uhuru Kenyatta (2nd Right) poses for a group photo during the courtesy call on the Vice Chancellor with Left to Right: Prof. Barnabas Nawangwe, Ms. Sarah Kagingo and Guild President-H.E. Churchill James Ssentamu. Second Annual Guild Leaders’ Summit, organized by the Guild Presidents Leadership Academy, keynote address by Former President of Kenya, H.E. Uhuru Kenyatta, 24th April 2025, Main Building, Makerere University, Kampala Uganda.

By Betty Kyakuwa and Carol Kasujja

In this exclusive quick chat, we spoke to the 91st Guild President, Ssentamu Churchill James, a third-year student pursuing a Bachelor of Social Sciences. He shares insights into his leadership journey, key achievements, challenges, and his vision for the student community.

What inspired you to run for Guild President?

My background and personal leadership journey played a big role. Growing up, I saw my father and uncle actively involved in politics, which shaped my interest in leadership.

I also held leadership roles in high school—serving as Sports Minister at O-Level and later as Head Prefect at St. Juliana High School, Gayaza, during my A-Level. These experiences built my confidence and passion for representing others.

Ssentamu Churchill James and Kadondi Gracious inaugurated as the 91st Guild President and Vice President, 21st March 2025, Main Hall, Main Administration Building, Makerere University, Kampala Uganda, East Africa.
Prof. Buyinza Mukadasi with the H.E. Ssentamu, H.E. Kadondi, Dr. Winifred Kabumbuli and family members of the Guild Leadership.

Seeing former Guild President Vincent Lubega Nsamba win also motivated me. We come from the same high school, and I succeeded him as Head Prefect. That gave me the belief that I, too, could lead at that level.

What was your vision when you assumed office, and how much of it did you achieve?

My vision was to amplify students’ voices and ensure their needs were prioritized. While it wasn’t easy due to bureaucracy, we made progress.

We improved students’ social welfare by engaging management, which led to greater flexibility in organizing events like the Bazaar and Freshers’ Ball. We also addressed the issue of missing marks. Previously, it could take semesters to resolve, but now, through the Office of the Academic Registrar, such issues can be handled much faster.

What is your biggest achievement?

One of the biggest milestones was allowing students to sit for examinations after paying at least 60% of tuition. This has reduced the number of students dropping out due to financial constraints.

Left to Right: MD and CEO NEC-Lt. Gen. James Mugira conducts a symbolic handover of keys to the Vice Chancellor-Prof. Barnabas Nawangwe as 91st Guild President-H.E. Ssentamu Churchill James, Principal CEES and Ag. DVCFA-Prof. Anthony Muwagga Mugagga, Deputy University Secretary-Mr. Simon Kizito and Deputy Dean of Students-Dr. Rodney Rugyema witness on 25th July 2025. The National Enterprise Corporation (NEC) hands over fully refurbished Mary Stuart Hall. The renovation, which cost UGX 10.5 billion, began on 26th July 2024 and was completed exactly a year later, on 25th July 2025. Makerere University, Kampala Uganda, East Africa.
Left to Right: MD and CEO NEC-Lt. Gen. James Mugira conducts a symbolic handover of keys to the Vice Chancellor-Prof. Barnabas Nawangwe as 91st Guild President-H.E. Ssentamu Churchill James, Principal CEES and Ag. DVCFA-Prof. Anthony Muwagga Mugagga, Deputy University Secretary-Mr. Simon Kizito and Deputy Dean of Students-Dr. Rodney Rugyema witness on 25th July 2025.

We also saw the lifting of the ban on social events, which has gradually revived campus life. Additionally, leadership roles such as ministers and Guild Representative Councillors (GRCs) have become more functional, with clearer responsibilities and greater impact.

What key lessons have you learned?

One key lesson is the importance of daring to take action. Things may seem impossible, but once you step out and try, you realize they are achievable.

I also learned that leadership begins with influence. For example, when class representatives raised concerns about not being paid, I had to engage and influence them to understand the situation while working toward solutions.

Leadership also requires teamwork. You cannot lead alone—you need a support system. When you delegate, trust people and avoid micromanaging.

H.E. Ssentamu Churchill James and H.E. Kadondi Gracious welcome freshers in typical Makerere style. Makerere University officially kicks off 2025/2026 academic year with a Freshers’ Orientation at the Freedom Square on Monday 4th August 2025, Kampala Uganda, East Africa.
H.E. Ssentamu Churchill James and H.E. Kadondi Gracious welcome freshers in typical Makerere style.

Another lesson is the importance of effective communication with management. Building strong relationships increases your chances of influencing decisions.

On a personal level, I have learned discipline—keeping time, improving how I present myself, and becoming more mindful in how I engage with others.

What do you attribute your success to?

First and foremost, God, who gave me the wisdom and understanding to lead.

I also attribute it to the strong working relationships I built with University leadership, especially the Vice Chancellor and the Dean of Students. Without that collaboration, it would have been difficult to achieve much.

How did you balance academics and leadership?

It required intentional planning and prioritization. When meetings clashed with tests, I delegated to the Vice President or Prime Minister. This ensured continuity while giving them an opportunity to grow.

H.E. Churchill James Ssentamu alongside other Student Leaders hold the "Strides for Change" banner at Mary Stuart Hall. Makerere University in partnership with Embassy of Sweden in Uganda and UNFPA in Uganda hosted the "Strides for Change" Activism walk and official unveiling of the 2025 16 Days of Activism campaign on Monday 24th November, 2025.
H.E. Churchill James Ssentamu alongside other Student Leaders hold the “Strides for Change” banner at Mary Stuart Hall. Courtesy Photo.

However, I made it a point to attend critical engagements, such as Council meetings, because I was entrusted with representing students’ voices. I was also selective about external engagements to remain focused on my academics.

What challenges did you encounter?

Managing high expectations from students was a major challenge. Even small delays could attract criticism. For example, when students’ upkeep delayed by a week, some assumed I was not advocating for them.

I learned to remain calm and not react emotionally, instead using feedback as motivation to improve.

Another challenge was handling sensitive cases, such as advocating for students who had been suspended. Even when I did not agree with their actions, it was my duty to seek fair consideration on their behalf.

Prof. Barnabas Nawangwe, Mr. Ian King and H.E. Ssentamu Churchill James (Standing before Banners) are joined by officials in a group photo in the Daycare Centre, located on the Ground Floor of the Institute of Gender and Development Studies (IGDS) on 7th August 2025. Makerere University, in collaboration with UNDP Uganda launch of Daycare and Breastfeeding Centre at the Institute of Gender and Development Studies (IGDS) and state-of-the-art Multimedia Studio at the Frank Kalimuzo Central Teaching Facility, 7th August 2025, Kampala Uganda, East Africa.
Prof. Barnabas Nawangwe, Mr. Ian King and H.E. Ssentamu Churchill James (Standing before Banners) are joined by officials in a group photo in the Daycare Centre, located on the Ground Floor of the Institute of Gender and Development Studies (IGDS) on 7th August 2025.

Was there a difficult decision you had to make?

Yes. Just a month into office, I made the decision to relieve a minister of their duties because they did not align with the cabinet’s vision and values. Leadership requires making tough decisions to maintain unity and integrity.

Is there anything you would have done differently?

I feel I could have engaged more with the administration. At times, I was occupied with activities outside the University, which limited my interaction with management. With more engagement, I believe I could have achieved even more.

What will you miss most?

I will not necessarily miss the office itself. Leadership is about service, and it is now time for others to take on that responsibility as I move on to the next chapter of my life.

H.E. Churchill James Ssentamu enjoys a light moment with officials as he endorses the dummy of the policy. The Third Deputy Prime Minister and Minister without Portfolio, Right Honourable Lukia Isanga Nakadama, has commended Makerere University for crafting a policy aimed at creating a safe, inclusive, and respectful environment for all members of the University community. 4th April 2025, Main Hall, Kampala Uganda, East Africa.
H.E. Churchill James Ssentamu enjoys a light moment with officials as he endorses the dummy of the policy.

How would you like to be remembered?

As a selfless leader who went the extra mile to serve others and always put students’ interests first—even when it required personal sacrifice.

For instance, during the Freshers’ Ball, we wanted to host a musician whose fee was UGX 4 million, yet we only had UGX 2 million. I personally covered the balance to make it happen for the students.

Betty Kyakuwa
Betty Kyakuwa

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