General
MURBS Lauded for Initiating Charter and Ambassadors Programme
The Makerere University Retirement Benefits Scheme (MURBS) has been lauded by the regulator; Uganda Retirement Benefits Regulatory Authority (URBRA) for coming up with the Customer Service Charter and Departmental Ambassadors Programme. The two initiatives were launched by the Vice Chancellor, Prof. Barnabas Nawangwe at a well-attended ceremony held on 27th February 2018 in the Tele-presence Centre, Senate Building, Makerere University.
Speaking as Chief Guest at the launch, Prof. Nawangwe thanked the MURBS Board of Trustees for the invitation and great job done so far in managing and growing Members’ savings. He noted that the Departmental Ambassadors Programme was a great initiative in building a solid governance structure for MURBS and the Customer Service Charter was another feather in the cap of an already great performance in as far as reaching out to Members of the scheme was concerned.
“I have already heard of standards that the MURBS Board of Trustees has set in as far as paying Members benefits upon retirement in a record 5 days! I pray that you will continue to uphold this record, which Makerere as the sponsor is keen to emulate,” pronounced the Vice Chancellor amidst bouts of thunderous applause and laughter from the audience.
Prof. Nawangwe however reassured his audience that the University Management was working hard to change the situation of delayed payment of retiree benefits. “I would like to thank the Government for the renewed responsiveness in as far as settling all outstanding arrears with Makerere University is concerned. We are hopeful that the situation is going to improve even further so that people who have diligently served this University for decades can receive their benefits on time.”
He challenged the audience to ponder on the fact that whereas the University’s annual wage bill is approximately UGX130billion, the MURBS fund value is about to hit the UGX120billion mark. This, he noted, should set off a light bulb on our collective potential as university employees to come up with a powerful financial institution, should we choose to save percentages of our earnings way above the mandatory monthly obligations.
The Vice Chancellor also expressed optimism that the MURBS fund value would soon hit the UGX150billion mark, especially as the remuneration for staff continues to improve. He concluded his remarks by congratulating all Departmental Ambassadors upon their nomination and declared the MURBS Customer Service Charter and Departmental Ambassadors Programme duly launched.
In any industry where high standards of compliance are a minimum requirement, it is a rare occurrence for the regulator to publicly commend one of the players. However, there is an exception to this rule for a highly complaint scheme such as MURBS. Speaking on behalf of URBRA the Acting Chief Executive Officer, Mr. Martin Nsubuga noted that MURBS is one of the players that the Authority takes great pride in.
“MURBS has upheld all the good principles of governance required of schemes in the retirement benefits sector. They have also always sent participants to the trainings organised by the Authority and their audited financial accounts for the year 2017 were excellent” said Mr. Nsubuga.
Mr. Nsubuga then thanked the University Management through the Vice Chancellor for complying with the requirement to submit outstanding arrears owed to the scheme, which resulted in the recovery of UGX7.5billion by MURBS. He also commended MURBS for launching the Departmental Ambassadors Programme, noting that this would go a long way in grooming future Trustees for the tasks ahead.
“Anybody who would have served as a Trustee will have a great addition to their CV due to the rigorous training that they must undergo prior to being confirmed and during their service as members of the Board. We believe that the launch of this programme will not only enhance the performance of MURBS but will also be emulated by other players in the sector,” concluded Mr. Nsubuga.
Some of the constituencies that make up the MURBS Board of Trustees are the staff associations namely; Makerere University Academic Staff Association (MUASA), Makerere University Administrative Staff Association (MASA) and the National Union of Education Institutions (NUEI). Speaking on behalf of his fellow leaders, the Chairperson MASA, Mr. Vincent Abigaba commended MURBS for the great services offered to the staff of Makerere University.
“The launch of the Departmental Ambassadors Programme is an indicator that you are practicing good corporate governance. I have no doubt that you will deliver to the expectations of the members. I thank you for engaging us and inviting members to participate in the management of MURBS activities,” said Mr. Abigaba.
To the ordinary man, the world of Capital Markets and its myriad of associated jargon can be quite a puzzle. It was therefore only befitting that at this double launch, a professional with a wealth of experience in the field and an eye on the state of the national and regional market be invited to give a keynote address. Enter in Mr. Stephen Kaboyo, Managing Director, Alpha Capital Partners.
A trained professional with a wealth of experience spanning over 20 years in Financial Markets, Mr. Kaboyo kicked off his keynote address by congratulating MURBS for pursuing a professional approach to financial reporting and governance. He admitted that retirement benefits; although an interesting topic and venture, was very complicated to understand and had its fair share of jargon.
He however challenged the Members to hold their Trustees accountable by seeking explanations for any matter they didn’t understand. “You pay the Trustees so call them up and ask them questions pertaining to your retirement benefits. It is important that you understand how your benefits are managed. You have to understand your role as a member and that of all the service providers involved” said Mr. Kaboyo, before adding “knowing how your investments perform is critical to understanding the risks involved in managing your benefits and how much you take home at the end of the day.”
Mr. Kaboyo urged the members to always attend MURBS meetings and seek to understand the scheme from the basics. He however noted the need to introduce a comprehensive financial wellness programme that holistically looks at how to set financial goals, carry out financial planning and a host of other activities that can inform retirement benefits education.
With regard to the market trends, Mr. Kaboyo begrudgingly noted that the Ugandan capital markets were neither deep nor well developed. He observed that the Government Bond market offered the best options and there were no corporate bond markets worth talking about. Additionally, the capital markets have not registered any new listing in the last seven years.
He therefore advised the scheme managers to adopt diversification as an approach to investment and avoid concentrated investment in one portfolio. “I urge you to shift from fixed income portfolio and look at things like real estate. With regard to geographical diversification, I urge URBRA through Mr. Nsubuga to provide MURBS and other players in the market with the regulatory guidance to invest in diverse geographical locations” added Mr. Kaboyo.
Treading lightly lest he threw a spanner in the works of service providers, Mr. Kaboyo touched on the need to consider in-house management versus external management of scheme assets. “I encourage Trustees to look beyond the return on investment to the return on cost. Consider retaining some activities under in-house management if the return on cost is high. However, I must warn that this approach calls for the recruitment and retention of a robust in-house investment team,” he advised.
Mr. Kaboyo concluded his keynote by urging MURBS management to continue upholding good governance practices such as openness and transparency. “A strong governance structure is key to managing conflict of interest, which will always creep up on you at the least expected time.”
The Secretary to the Board of Trustees-Dr. John Kitayimbwa in moving a vote of thanks praised Mr. Kaboyo for agreeing to deliver the keynote. He also expressed appreciation for the advice and tips freely dispensed during the delivery of the keynote. He acknowledged the need to incorporate an investment chart in the next financial report, which will help members understand the flow of their savings right from deduction to investment. “We shall also share the MURBS real estate property model with members at the next opportune time,” he added.
Reacting to some of the responses from the audience, Dr. Kitayimbwa noted that the Departmental Ambassadors had their work cut out in as far as taking MURBS services closer to their units. Whereas the Trustee deed specifies that anyone above 50 years is ineligible to join the scheme, there exists a niche of potential members who upon hitting 55years are eligible to receive their retirement benefits from the National Social Security Fund (NSSF) but are ineligible to save with MURBS until their retirement at 60years. Dr. Kityimbwa therefore tasked the Departmental Ambassadors to seek their constituents’ opinions on this matter as their first assignment.
Giving the closing remarks at the launch, Chairperson, Board of Trustees, Mr. Wilber Grace Naigambi thanked all present for taking time to attend the event. Earlier he had shared that MURBS Departmental Ambassadors are members who will volunteer to endorse and promote MURBS’ values, beliefs and mission at the University Departmental levels.
“The scheme growth and sustainability of MURBS benefits all of us. Let us therefore work together to strengthen the governance and management of MURBS” concluded Mr. Naigambi.
Article by Public Relations Office
General
Mastercard Foundation Scholars Program at Makerere University Celebrates the Last Cohort of Phase One Graduates
At the just-concluded 76th Graduation Ceremony at Makerere University, which took place between 24th and 27th February 2026, the Mastercard Foundation Scholars Program at Makerere University celebrated the graduation of the final Cohort of 10 Mastercard Foundation Scholars from the first phase of the Mastercard Foundation Scholars Program (2013-2023). This brings the total number of graduates from Phase One to 974 out of the 1,032 Mastercard Foundation Scholars recruited.
Who are these 10 graduates, and what are their dreams and aspirations?
ACOLA Jackline graduated with a Bachelor of Science in Conservation Biology from the College of Natural Sciences. Her passion for nature and commitment to addressing environmental issues, including degradation, pollution, and the unsustainable exploitation of natural resources, have motivated her to pursue a career in conservation. As a conservation biologist, Jackline’s primary objective is to ensure that natural resources and the environment are preserved in their pristine state. She is dedicated to promoting sustainable resource utilisation and advocating for eco-friendly business practices. To achieve this, she plans to implement comprehensive conservation education initiatives for the general public.
AJIAMBO Eunice graduated with a Bachelor of Commerce. She is motivated and detail-oriented, with a strong academic foundation in accounting, taxation, finance, and business management. Her programme provided her with practical knowledge and analytical skills relevant to today’s dynamic commercial environment. During her academic journey, she developed a strong interest in taxation and financial compliance. She undertook coursework and case studies that enhanced her understanding of corporate taxation, value-added tax, financial reporting, and business decision-making. These experiences strengthened her ability to analyse financial information, interpret regulations, and apply commercial principles effectively. Eunice aspires to build a professional career in finance and taxation, with a focus on tax advisory, revenue administration, and corporate finance. She is passionate about ethical business practices and believes that effective financial management and tax compliance are essential for sustainable economic growth.
Dr. AKITE Flowrence graduated with a Bachelor of Veterinary Medicine, a testament to resilience and support. Losing her father at a young age could have derailed her aspirations, but instead, it fueled her determination to succeed. Throughout her academic career, she received encouragement and assistance from generous individuals who recognised her outstanding academic achievements. As a Mastercard Foundation Scholar, she not only excelled academically but also actively engaged in her community, treating animals as she gained experience as a vet student. In her hometown of Dokolo, Northern Uganda, she has played a vital role in treating animals and enhancing the health and welfare of local livestock.
AUMA Barbra attained a Bachelor of Arts with Education, representing a significant milestone in her educational journey. Hailing from a modest family of eight children, she faced numerous challenges on her path to higher education, particularly after her father, a security guard, was unable to fund her university tuition following her Senior Six. Consequently, her graduation not only signifies a personal accomplishment but also embodies a remarkable triumph over adversity. Her academic excellence earned her a place in the Mastercard Foundation Scholars Program at Makerere University, a pivotal opportunity that enabled her to pursue her dreams. Barbra is particularly dedicated to advocating for girls’ education.
Dr. BABALANDA Immaculate is a dedicated veterinary professional who recently completed her Bachelor of Veterinary Medicine. Throughout her studies, she maintained a strong focus on animal health, food safety, and sustainable livestock systems. Passionate about agricultural innovation, she founded the Green Grub Revolution Project, which promotes black soldier fly larvae as a sustainable, cost-effective alternative to traditional poultry feed. Her work focuses on bridging the gap between scientific research and grassroots community needs. Currently, through her Fellowship at the International Livestock Research Institute (ILRI-Nairobi), Immaculate is strengthening her research and leadership in one health and climate-smart livestock production. She envisions a career at the intersection of veterinary medicine and agricultural innovation, where she can scale sustainable feed alternatives and contribute to resilient food systems across Africa.
MAZAPKWE Vicky proudly earned her Bachelor of Business Administration, showcasing the remarkable outcomes of determination and resilience in overcoming adversity. Having lost both parents at a young age, pursuing higher education seemed an unattainable dream. However, with her auntie’s unwavering support, she successfully completed her primary and secondary education. Her dedication and academic excellence earned her a place in the Mastercard Foundation Scholars Program, paving the way for her academic journey at Makerere University. Now equipped with her degree, Vicky has set her sights on becoming a successful businesswoman while nurturing her passion for storytelling as a film writer and director. She is grateful for the opportunities provided by the Mastercard Foundation Scholars Program, which not only empowered her but also inspired her to launch a project that supports orphans in her community.
NAMATOVU Noeline graduated with a Bachelor of Business Administration. A daughter of a single mother, her graduation is both a joy and big relief to her mother.
After the loss of her father, she received invaluable support from a priest, a friend of her late dad.
“The priest took me to school and covered my fees until I completed Senior Six. Although he couldn’t help with university expenses, it motivated me to seek a scholarship, and the Mastercard Foundation Scholars Program at Makerere University enabled me to pursue my university education.” Namatovu shares. Initially aspiring to be a doctor, she found the sciences challenging and shifted her focus to accounting, where she plans to major and pursue professional qualifications. Her achievements have inspired young people in her community.
NAMIYINGO Christine graduated with a Bachelor of Arts with Education, majoring in Economics. Her academic journey has been challenging, particularly given her experience with bipolar disorder; however, she is grateful for the support she has received from the Mastercard Foundation Scholars Program team at Makerere University. She is keen to pursue a Master of Business Administration (MBA) to strengthen her expertise in Business Management and realise her aspiration of becoming an entrepreneur. Beyond her academic pursuits, Christine is deeply committed to her faith, which she considers a significant factor in her success. She is also dedicated to assisting those in need, guided by a belief that acts of generosity are rewarded. Inspired by accomplished individuals, she actively seeks mentorship to foster her personal development.
NAMONGIN Alice is a dedicated development practitioner, climate justice advocate, and youth leader from Uganda’s Karamoja region. As a Mastercard Foundation Scholar at Makerere University, she earned a Bachelor of Science in Business Statistics, with a focus on research and social entrepreneurship. She founded the Nurture HER Initiative, a youth-led venture that promotes climate resilience and girls’ education in Indigenous communities. She has trained over 70 Indigenous youth volunteers, supported climate education in schools, and promoted sustainable solutions. With interests in climate policy, entrepreneurship, and community solutions, Alice aspires to influence policies that prioritise Indigenous knowledge and youth participation. She enjoys mentoring young girls, public speaking, and using storytelling to drive social change.
NVIRI Robert graduated with a Bachelor of Arts with Education. Throughout his academic career, he has demonstrated a strong commitment to education, leadership, and community development. His enthusiasm for teaching and empowering his peers has motivated him to pursue a career dedicated to improving Uganda’s education system, focusing on integrating modern teaching methodologies and digital tools to enrich the learning experience. Robert aspires to become a transformative educator who inspires students to engage in critical and creative thinking. He is particularly passionate about improving access to education for under-served communities and firmly believes in education’s capacity to foster social change. In addition to his academic endeavours, Robert has actively tutored children facing social and economic barriers and organised mentorship programmes for young people, thereby reinforcing his dedication to community service.
How did the Mastercard Foundation Scholars Program journey start at Makerere University? The Program Director, Prof. Justine Namaalwa, shares the highlights.
Phase One of the Mastercard Foundation Scholars Program (2013-2023)
In 2013, Makerere University entered into a transformative partnership with the Mastercard Foundation to nurture the next generation of leaders in Africa. This initiative is designed to empower young people to drive positive change in their lives, their communities, and across the continent. The Mastercard Foundation Scholars Program places strong emphasis on enabling young people to shape new narratives and pursue meaningful aspirations.
Through this collaboration, Makerere University has successfully implemented two phases of the Mastercard Foundation Scholars Program. The first phase of the Mastercard Foundation Scholars Program was implemented from 2013 to 2023. Under this phase, 1,032 Mastercard Foundation Scholars were recruited and educated at Makerere University, of which 974 graduated and are contributing in various capacities within their communities.
Phase Two of the Mastercard Foundation Scholars Program (2023-2034)
In December 2023, the partnership was renewed, and the second phase of the Mastercard Foundation Scholars Program is currently being implemented at Makerere University and will run through 2034. Building on the first phase, the University is committed to fostering inclusion and ensuring equitable access in this phase. To support this goal, specific scholarship quotas have been established for the following groups:
- Refugees and Internally Displaced Persons (25% of the Scholarships)
- Young People living in Refugee-Hosting Communities (5% of the Scholarships)
- Young People from Underrepresented Ethnic Groups in Uganda (5% of the Scholarships)Young People Living with Disabilities (25% of the Scholarships)
- International Students (10% of the Scholarships)
- Other Ugandan Nationals facing financial barriers to pursuing University Education (30% of the Scholarships)
What has been the individual impact of Phase One graduates of the Mastercard Foundation Scholars Program?
To date, 974 Mastercard Foundation Scholars have graduated, proudly joining the Makerere University Alumni community.
Notably, 48% of these Mastercard Foundation Scholars Program Alumni have secured formal employment, demonstrating successful integration into the workforce. Furthermore, 18% have launched their own businesses, not only creating jobs for themselves but also generating opportunities for other young people and driving local economic transformation. The Mastercard Foundation Scholars Entrepreneurship Fund (SEF) supported 46 ventures by the end of 2025, proving that start-ups are indeed a crucial solution to combating youth unemployment.
In addition, 8% of the Mastercard Foundation Scholars Program Alumni are gaining essential work experience through internships facilitated by Transition Partners. Meanwhile, 5% are pursuing further study in Master’s, Postgraduate Diploma, and PhD programmes, reflecting their commitment to personal and professional growth.
In total, 72% of the Mastercard Foundation Scholars Program Alumni are actively engaged in productive employment or entrepreneurship. This data clearly shows that investing in young people generates tangible economic and social returns.
The remaining 12% are part of other young people in Uganda with university degrees who are facing challenges entering the world of work. These young people need support and systems to translate their career navigation journeys into meaningful engagements.
What has been the impact on the Communities?
Communities have greatly benefited from the Mastercard Foundation Scholars’ Give Back initiatives, including the establishment of safe water sources, the construction of classrooms, and the planting of trees for environmental protection. These efforts reflect a commitment to empowering young people, positively impacting communities, and showcasing the potential of African universities for a sustainable future. Mastercard Foundation Scholars and Alumni implement one impact project each year on the Annual Day of Service, which allows them to showcase skills in organisation, mobilisation, and teamwork. Since 2014, Mastercard Foundation Scholars have implemented various community projects, as highlighted below.
- In 2023, Achukudu Primary School in Napak District made significant strides by constructing a two-room classroom block, complete with desks and benches, enhancing the learning environment for its students.
- In 2022, St. Katherine Primary School in Agago District contributed to its community by building a two-room classroom block alongside a new pit latrine, improving facilities for both students and staff.
- In 2021, the Bulamwaki community in Iganga District saw valuable initiatives: a borehole was completed, and 56 jerrycans were donated to local women, promoting access to clean water.
- In 2020, Mastercard Foundation Scholars made a positive impact in the Kyangwali Refugee Settlement in Kikuube by providing essential COVID-19 protective materials, distributing sanitary pads, promoting tree planting, and offering career guidance to the community.
- In 2019, efforts at Salama School for the Blind in Mukono included planting trees and erecting a protective fence around the school, creating a safer and more welcoming environment for students. At Kibaale Primary School in Mityana, activities included general cleaning, tree planting, and the completion of a two-room teacher’s residence.
- In 2018, Mastercard Foundation Scholars donated learning materials, nappies, and food items, supported feeding activities and carried out general cleaning at Kampala School for children living with disabilities.in Kampala.
- In 2017, Mastercard Foundation Scholars constructed and renovated classroom blocks, dug a rubbish pit, and cleared a community well at Muzinda Primary School, and raised awareness on hygiene at Mbuya Gizaza Community in Nakawa. Additionally, they built a wooden classroom, renovated a latrine, cleaned the area, and planted trees at St. Charles Lwanga Primary School in Mukono.
- In 2015, Mastercard Foundation Scholars planted trees, undertook general cleaning, painted the buildings, and carried out electrical installations and repairs at Kireka School of Children with Special Needs in Kampala.
- In 2014, the first cohort of Mastercard Foundation Scholars dug a rubbish pit and a borehole trench, washed children’s clothes, supported feeding activities, carried out general cleaning and compound slashing, and donated foodstuffs, nappies and laundry detergents to Mercy Child Care Centre in Wakiso.
Giving back to the community has been, and continues to be, a core aspect of the Mastercard Foundation Scholars Program, which fosters a culture of giving through individual and group initiatives. As Nelson Mandela rightly puts it:
“What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead”. He also championed community service, noting that “we can all do more to reach out, take care, and serve the well-being of others”.
Bernard Buteera is the Principal Communications and Public Relations Officer of the Mastercard Foundation Scholars Programme at Makerere University.
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