The 3^rd Board of Trustees of the Makerere University Endowment Fund (MakEF) has been officially inaugurated in a ceremony presided over by Mrs. Lorna Magara, Chairperson of the University Council on 23^rd October 2025, and moderated by the Secretary to the Board, Mr. Emmanuel Kitamirike

In her address, Mrs. Magara commended the outgoing board, led by Dr. Margaret J. Kigozi, for their remarkable stewardship that saw the Fund grow from UGX 8.66 billion in 2021 to UGX 14.54 billion in 2025. She underscored the Endowment Fund’s vital role in ensuring the University’s financial sustainability amidst fluctuating public funding, reaffirming the Council’s commitment to providing policy and institutional support. Mrs. Magara further urged the incoming Board to uphold transparency, strengthen alumni engagement, and pursue innovative investment strategies to expand the Fund’s impact as Makerere continues to build for the future.

Board composition

The newly inaugurated 3^rd Board of Trustees (2025–2029) brings together a team of distinguished professionals whose expertise spans business, academia, finance, governance, and social advocacy. Notably, some members have been reappointed in recognition of their exceptional service and contribution to the Fund’s growth during the previous term. The Board is chaired by Dr. Margaret J. Kigozi, a seasoned business leader and former Executive Director of the Uganda Investment Authority (UIA). She is joined by accomplished members including Ms. Jennifer Mwijukye, CEO and founder of Unifreight Cargo Handling Limited; Mr. Ninsiima John Chris, Director of Programmes at NUDIPU and member of the Makerere University Council; Mr. Kenneth Mugambe, former Director of Budget at the Ministry of Finance; Prof. Buyinza Mukadasi, Makerere University’s Academic Registrar and Professor of Forestry Resource Economics; and Mr. Sam Ayesiga, a governance and investment expert with vast experience across Africa. Their diverse backgrounds and renewed commitment are expected to steer the Fund toward even greater stability, innovation, and impact in the years ahead.

Representing the Vice Chancellor, Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the outgoing Board of Trustees of the Makerere University Endowment Fund for their exceptional service marked by growth, innovation, and accountability. She noted that the growth of the fund to UGX 14 billion is a clear testament to strategic vision, prudent management, and confidence in Makerere University’s long-term sustainability. Prof. Ssali praised the Board for initiatives that have united thousands of alumni, staff, and partners, notably through the Makerere Run, which has supported disability inclusion and empowerment.

She also recognized the introduction of the MakAdvance digital platform as a milestone in promoting efficiency and transparency. She welcomed the incoming Board, and challenged the new team to grow the Fund beyond UGX 25 billion through deeper engagement, innovative fundraising, and stronger partnerships. She reaffirmed Management’s commitment to supporting the Fund within robust governance frameworks that inspire stakeholder confidence, emphasizing the shared vision of building a financially resilient Makerere University.

During the handover ceremony, Dr. Margaret J. Kigozi, the Chairperson, reflected on the remarkable progress achieved under the 2021–2025 term, noting the Fund’s growth from UGX 8.66 billion to UGX 14.54 billion — a 68% increase despite global economic challenges. She highlighted key milestones including the institutionalization of the Makerere Run, establishment of the Makerere Gift and Souvenir Shop, launch of The Legacy e-newsletter, and the creation of the Jawaher Fund for the Advancement of Women’s Education, supported by NAMA Establishment in the UAE. Dr. Kigozi expressed gratitude to the outgoing Trustees and reaffirmed her commitment, alongside the new Board, to advance transformative projects such as the construction of the Makerere University Students’ Centre and development of the Makindye land. She emphasized that the Fund’s goal remains to build a financially sustainable Makerere University capable of supporting innovation, research, and academic excellence for generations to come.

At the inauguration, the Deputy Vice Chancellor in charge of Finance and Administration, Prof. Winston Tumps Ireeta underscored the Fund’s central role in ensuring Makerere’s financial sustainability and institutional legacy. He described the Endowment Fund as a cornerstone of the University’s vision—an instrument through which Makerere secures its future, strengthens its independence, and sustains strategic investments in teaching, research, and innovation. He extended heartfelt appreciation to the outgoing Board, chaired by Dr. Margaret J. Kigozi, for their dedicated service and strong leadership that fortified the Fund’s governance, fundraising, and asset management.

Welcoming the new Board, he congratulated the members on their appointment and urged them to continue expanding and mobilizing resources with integrity and innovation. He reaffirmed his office’s commitment to providing administrative and financial support to ensure that the Fund thrives beyond annual budgetary constraints, contributing meaningfully to Makerere’s vision of becoming a research-led, financially resilient, and globally respected institution.

The Makerere University Endowment Fund (MakEF) was established to secure the University’s financial sustainability by mobilizing, investing, and managing resources to support its core functions of teaching, research, and innovation. Originating from donations made as early as the 1930s, the Fund has evolved into a strategic vehicle that aims to reduce dependence on public funding. It is governed by a Board of Trustees appointed by the University Council, responsible for overseeing investments and resource mobilization. Through initiatives like alumni engagement, digital giving, and events such as the Makerere Run, the Fund continues to grow and strengthen Makerere’s vision of being a research-led and financially resilient institution.

As part of her efforts to familiarize herself with the offices under her docket, the newly appointed First Deputy Vice Chancellor in charge of Academic Affairs, Prof. Sarah Ssali, has embarked on a series of visits to different units that report to her office. One of these is the Makerere University Press (MakPress), which she visited today on 21^st of October 2025, on a courtesy call. She was received by the Managing Editor for MakPress, Dr. William Tayeebwa, a Senior Lecturer in the Department of Journalism and Communication at the College of Humanities and Social Sciences. Previously, MakPress operated jointly with the Directorate of Graduate Training (DGT) and the Directorate of Research, Innovations and Partnerships (DRIP) before becoming a standalone entity. Accompanying Prof. Ssali on this visit were Prof. Julius Kikooma, the Director of DGT, and Mr. Mathias Ssemanda, the Acting Manager of the International Relations Office.

During her visit to MakPress, Prof. Sarah Ssali commended the Unit for its progress and partnerships while emphasizing the need to strengthen collaboration with key institutions such as the National Curriculum Development Centre (NCDC), the Ministry of Education and Sports, and other universities. She encouraged the Press to explore practical working models, including leveraging external expertise and streamlining its printing processes to enhance efficiency. Prof. Ssali also highlighted the importance of safeguarding intellectual property, ensuring fair contractual terms with partners, and maintaining transparency in publishing agreements. She advised that Makerere University Press should position itself strategically by producing high-quality academic materials that serve both national and international audiences. Additionally, she urged the team to adopt a more consistent publication schedule—launching books quarterly or biannually—and to organize events where authors can engage directly with readers, scholars, and policymakers. Prof. Ssali reaffirmed the administration’s support toward building a stronger, more vibrant university press that effectively contributes to research dissemination, academic dialogue, and national development.

During the courtesy visit, Dr. William Tayeebwa highlighted the milestones and ongoing projects at the Press. He spoke about the growing partnerships with institutions such as the University of Chicago Press, the University of California Press, and the African Books Collective, which have enhanced both local and international visibility of Makerere’s publications. “Why make a university press when you have Makerere University Press”, Dr. Tayeebwa said urging public universities to utilize MakPress. Dr. Tayeebwa also shared that the Press has republished several titles, launched new book projects, and developed a digital platform that enables readers to access and purchase books online. However, he pointed out a number of challenges affecting the Press’s operations, including inadequate funding, limited printing capacity at the university printery, and delays that often affect the timely release of publications. He further noted the difficulty of accessing generated funds due to bureaucratic procedures, space and infrastructure limitations, and the continued confusion between the roles of the Press and the printery. Despite these challenges, Dr. Tayeebwa reaffirmed the commitment of his team to strengthen Makerere University Press as a central pillar in advancing research dissemination and academic publishing.

Makerere University Retirement Benefit Scheme (MURBS) has presented its performance of Financial Year 2024/2025 to the sponsor, the University Council and other stakeholders on 21^st of October in the Telepresence Centre, Senate building. MURBS which is a Mandatory Employer-Based Scheme was established by Makerere University under an irrevocable trust effective 1^st April 2009 to provide retirement benefits to employees of Makerere University.

Council applauds MURBS Performance

In her remarks at the presentation, the Chairperson of the University Council, Mrs. Lorna Magara, commended the Scheme’s steady progress and reaffirmed the Council’s commitment to safeguarding staff welfare. She noted that MURBS has grown into a trusted, transparent, and professionally managed scheme that continues to strengthen confidence among staff. Mrs. Magara praised the Board of Trustees for their prudent management and governance, describing their work as not merely financial stewardship but the protection of the hopes and futures of Makerere families. She urged continued focus on member education, digital service delivery, and sustainable fund growth, emphasizing that the ultimate goal is to build a lasting legacy of trust and financial wellbeing for all university employees.

MURBS demonstrates liquidity and resilience amid a volatile economy

Representing the Vice Chancellor, the Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, commended the Makerere University Retirement Benefits Scheme (MURBS) for its continued growth, accountability, and prudent management. She applauded the Scheme’s record fund value of UGX 475 billion and its unqualified audit opinion from KPMG, describing these milestones as clear evidence of transparency and sound governance. Prof. Ssali reaffirmed Makerere University’s full commitment as the Scheme’s sponsor, noting the progress made in clearing historical arrears and supporting MURBS operations. She praised the Board’s disciplined investment strategy—particularly its diversification into unit trusts and near-cash assets—which has enhanced liquidity and resilience amid a volatile economy. Highlighting MURBS as a model of good governance and accountability, Prof. Ssali emphasized that a reliable retirement scheme not only secures staff futures but also strengthens motivation, productivity, and institutional excellence.

Embrace digital transformation – URBRA urges

From Uganda Retirement Benefits Regulatory Authority (URBRA), the Manager Market Conduct, Mr. Mark Lotukei commended MURBS for its continued commitment to compliance, member education, and sectoral excellence. He highlighted that the Authority has been focusing its trainings on strengthening trustees’ capacity, with recent sessions covering strategic tax planning to help schemes minimize liabilities and safeguard members’ funds. Mr. Lotukei further announced upcoming trainings on benefits administration, stakeholder roles, and the contribution of pension funds to infrastructure and economic development. Emphasizing the evolving nature of the pension landscape, he urged trustees to embrace digital transformation, improve communication with members, and promote sustainable and innovative investment strategies. He concluded by reaffirming URBRA’s commitment to supporting MURBS and other schemes, assuring stakeholders of the Authority’s openness to continued collaboration and guidance.

Fund Value Hits Record UGX 475 billion

In his presentation on the performance, the Chairperson of the Board of Trustees, Dr. Michael Kizito, highlighted the Scheme’s continued growth, prudent financial management, and commitment to transparency. He reported that MURBS’ total assets had risen to UGX 475 billion, up from UGX 409 billion the previous year, reflecting strong investment performance and effective governance. Dr. Kizito commended the University management for timely remittances and reaffirmed the Board’s focus on sound risk management, diversification, and member satisfaction. He acknowledged the dedication of the trustees, staff, and service providers, noting that their collective effort has positioned MURBS for sustainable success. Looking ahead, he emphasized the Scheme’s intention to strengthen alternative investments and optimize operations to deliver even greater value to members and stakeholders.

The presentation of the performance of the scheme is one of the activities leading to the Annual General Meeting and it is done to management and the Sponsor of MURBS. The presentation, which attracted several key stakeholders including members of the University Council and representatives from Stanbic Bank and Old Mutual, concluded with an engaging question-and-answer session moderated by Dr. Deus Kamunyu Muhwezi. The session provided an opportunity for participants to seek clarity on the Scheme’s performance, governance practices, and investment strategies, fostering transparency and open dialogue between the MURBS leadership and its partners. MURBS is licensed by the Uganda Retirement Benefits Regulatory Authority (License No. RBS.0005).