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Trustees Commended as MURBS Registers 17% Record Return on Investment
Published
7 years agoon

Countless commendations from Management, Scheme Members and the Regulator – Uganda Retirement Benefits Regulatory Authority (URBRA) representatives poured in as the Makerere University Retirement Benefits Scheme (MURBS) gave details of the 17% rate of return on members’ opening balances as at 1st July 2017. This was at the 8th MURBS Annual General Meeting (AGM) held on Wednesday, 24th October 2018 in the Main Hall.
“On behalf of the University Management and the Director Human Resources, I would like to appreciate the MURBS Board of Trustees (BoT) for a job well done. Last week, MURBS organised a Joint Press Conference with the University Leadership at which the Chairperson Council-Eng. Dr. Charles Wana-Etyem praised the Board of Trustees upon the stewardship that led to the declaration of 17% return on investment,” remarked Mrs. Dorothy Senoga-Zake.
Mrs. Senoga-Zake further remarked that the Human Resources Directorate was in constant receipt of positive reports from retirees whose benefits were processed on time. “I also thank MURBS for promptly updating member statements and as a member, I am constantly aware of the monies deposited on my account,” she added.

She however expressed surprise that only six hundred out of the approximately four thousand scheme members are registered on the online portal according to the MURBS Annual Report. She therefore urged the unregistered members to expressly approach the Scheme Office and take advantage of this service so as to receive notifications of deposits and quickly follow up on any unremitted funds.
Speaking on behalf of the Regulator – URBRA, Ms. Lisa Betty Oyella commended the MURBS Board of Trustees for once again putting up a tremendous performance leading to the declaration of a 17% sector high return. She also lauded MURBS’ commitment to implementing all URBRA recommendations and effecting policies that improve the Scheme’s efficiency.
“MURBS is a very cooperative team and we commend them for always sparing time to participate in URBRA activities. We held a Trustee Training earlier today, where we needed Trustee from an exemplary scheme in the sector to speak to participants and were happy when Dr. John Kitayimbwa agreed to make a presentation despite the short notice. Please note that his willingness to join us was in the midst of preparing for this AGM,” lauded Ms. Oyella.
She also thanked the scheme members for attending the 8th AGM, noting that the annual gatherings present a platform where the regulator can interact with them and take note of matters arising. These notes, she said, can then be used to make recommendations to the BoT to help improve scheme operations.

Upon registering for 8th AGM, members were handed a copy of the MURBS Annual Report for the year ended 30th June 2018. Prominently displayed on the cover page is a photograph of a beaming retiree, former Dean, and prolific publisher of the School of Public Health, College of Health Sciences (CHS), Prof. David Musoke Serwadda.
“I was completely stunned that I received my retirement benefits within two weeks of submitting my application. I immediately invested my money and I now earn a monthly income from it – EXCELLENT SERVICE!” reads a caption in the Annual Report attributed to Prof. Serwadda.
The Chairperson MURBS Board of Trustees, Mr. Wilber Grace Naigambi in his remarks shared that the scheme had paid out benefits amounting to UGX3.79billion to exiting members during the financial year ended 30th June 2018, compared to UGX3.22billion the previous year.
“Our target of paying out benefits to members under normal retirement is thirteen working days upon receipt of the application form and complete paperwork. I am glad to report that during the financial year 2017/2018, we paid out benefits on average within six days.

"I would also like to report that in the course of the last financial year, we paid out death benefits amounting to UGX132million in respect of ten members” said the Chairperson.
Mr. Naigambi also informed the AGM that MURBS had launched the Departmental Ambassadors Programme, which was another first of clear succession planning in Uganda’s Retirement Benefits sector. Officially launched on 27th February 2018, the Ambassadors Programme membership quickly grew to forty two as at 30th June 2018. Ambassadors have since appointment undergone training in the basics of managing retirement benefits schemes and been closely exposed to MURBS operations, through participation in Trustee meetings and Board activities.
“As part of strategies to secure the retirement of our members, MURBS has started awareness programmes to popularise the annuity payment option as a viable alternative to the current lump sum payment. We believe that the annuity option is a better way of ensuring that our members have a regular income after retiring from service, and our Departmental Ambassadors have been trained on the same” added the Chairperson.
In accordance with the Board Charter; the performance of the MURBS BoT was evaluated for the period 1st July 2017 to 30th June 2018 by an independent consultant; J. Samuel Richards and Associates Certified Public Accountants. Reading the results of the evaluation on behalf of the consultant, Mr. Robert Katuntu, CPA, reported that the BoT demonstrates a high degree of competence, due skill and care in managing MURBS.

“MURBS operations are to a great extent compliant with applicable laws and regulations, as well as the Scheme’s governance policies and procedures and, majority of the Scheme’s members are satisfied with the Board’s performance” read Mr. Katuntu from part of the evaluation.
The Scheme’s Independent Auditors; KPMG Certified Public Accountants, also gave MURBS a clean bill of health. “In our opinion, the financial statements give a true and fair view of the financial position of Makerere University Retirement Benefits Scheme as at 30th June 2018, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standars, the financial provisions of the Scheme Trust Deed and Rules and Uganda Retirement Benefits Regulatory Act, 2011” read Mr. Wilson Kayindi on behalf of KPMG.
Prior to discussion of the Scheme’s financial reports, the 8th AGM’s emcees; MURBS’ Principal Pension Officer-Ms. Susan Khaitsa and Mr. David Ddumba Walakira recognised the presence of the Director Internal Audit-Mr. Walter Yorac Nono, Deputy University Secretary-Mr. Yusuf Kiranda, Chairperson Makerere University Academic Staff Association (MUASA)-Dr. Deus Kamunyu Muhwezi, Chairperson Makerere University Administrative Staff Association (MASA)-Mr. Vincent Abigaba and University Imaam- Hajji Sam Ahmad Ssentongo. Also recognised were URBRA Officials Mr. Davis Mbuga and Ms. Janet Iremera.
Dr. Kitayimbwa kicked off his moderation of the discussion by recognising the presence of the Bank of Uganda’s Mr. Allan Betabe, CFA, who guides the MURBS BoT on Investments. Responding to one of the questions from the audience on the fate of some members’ unremitted funds in terms of benefiting from the 17% record return, he explained that investments made by MURBS are only on the basis of funds received, as per URBRA regulations.

“As mentioned by the Chairperson in his remarks, Court awarded the Scheme UGX23billion as unremitted In-House funds from the University in October 2017, together with an interest of 7% per annum effective 1st April 2009. We are hopeful that we shall secure these monies on behalf of our affected members and proceed to invest them,” explained Dr. Kitayimbwa.
Still on investments, another member questioned why a big percentage of the Scheme’s investments at 65% and 7.1% are allocated to Treasury bonds and Treasury bills respectively, and yet there were other investment vehicles into which funds could be diversified so as to earn higher returns for members. In his response, the Secretary, BoT appreciated the suggestion but reiterated that the spirit of the URBRA Act is to ensure that all Schemes in the sector invest members’ benefits safely.
“The UBRA Act limits asset categories by which schemes can invest funds. Additionally, all fund managers have to be licensed by URBRA. So whereas there are so many riskier but higher returning investment vehicles, MURBS cannot employ their services unless they are recognised as fund managers by the sector regulator URBRA” added the Secretary BoT.
The biggest commendation of the day to MURBS came from the eighty two year old former Professor of Biochemistry at Makerere University, Prof. Edward Kakonge. Speaking softly but authoritatively, Prof. Kakonge sincerely thanked the Board of Trustees for all the great work done in profitably investing members’ benefits, as well as the plans to recover all unremitted funds.

“I was so happy to see my name in the New Vision (published 19th October 2018) among those whose benefits were ready for collection from MURBS,” added Prof. Kakonge.
The Chairperson MURBS BoT thanked all scheme members for the huge turn up at the 8th AGM, and prayed for an even bigger audience at the 9th AGM. He thanked the University Management, URBRA representatives and all service providers for attending the meeting and contributing to the record 17% return.
The total MURBS fund value grew by 36% (UGX37billion), climbing from UGX104.5billion as at 30th June 2017 to UGX142billion as at 30th June 2018, representing the biggest fund growth over the last five years. The growth was mainly driven by; recovery in performance of the equity market, and increase in members’ salaries which in turn increased contributions to the scheme. Payment by the University of UGX10billion owed to the scheme and the vigilance of trustees in pursing an aggressive investment strategy were additional contributors to the growth.
In his closing prayer, University Imam Hajji Ssentongo thanked the Almighty God for according us a bounty of peace and tranquillity during the course of the 8th AGM. He also prayed for divine enablement that the leaders and members of MURBS may be able to achieve the vision, mission and values of the Scheme.
Article by Public Relations Office
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General
Call For Applications: Mak-BSSR Postdoc, PhD, Master’s Fellowship-level Training
Published
3 days agoon
November 10, 2025By
Mak Editor
The Makerere University-Behavioral and Social Science Research (BSSR) in HIV Training Program, is a five year project, funded by National Institutes of Health (NIH), in partnership with the University of California, San Francisco (UCSF), invites applications for Post-doctoral, PhD, Master’s and Fellowship-level training opportunities in Behavioral and Social Sciences Research (BSSR) with a focus on HIV.
This five-year research training program funded by the Fogarty International Center (FIC) of the National Institutes of Health (NIH), aims to strengthen research capacity along the HIV care cascade.
Please see downloads for detailed information.
Deadlines:
- Post-doctoral and PhD level – Friday, 5th December, 2025 at 6:00PM EAT.
- Master’s and Fellowship-level – Friday, 19th December, 2025 at 6:00PM EAT
General
Makerere University Writing Centre trains first cohort of staff on professional minute writing
Published
6 days agoon
November 7, 2025
By Christopher Kaahwa and Ritah Namisango
On 6th November 2025, the Makerere University Writing Centre (MakWC) held a training workshop aimed at enhancing professional writing skills among University staff.
Focusing on official documentation and record keeping, the training, hosted at the School of Business Conference Hall, attracted participants from different University units, including Assistant Administrative Officers and Assistant Academic Registrars. This marked the first cohort of trainees to benefit from the program, which covered topics such as the fundamentals and responsibilities of a minute taker, writing techniques, policy and legal considerations, e-meeting platforms, and the ethical use of Artificial Intelligence (AI).
In her opening remarks, Mrs. Patience Rubabinda Mushengyezi, the Deputy Academic Registrar, who represented the Academic Registrar, Professor Buyinza Mukadasi, commended the Writing Centre for championing the growth of writing skills across the University. “I want to thank the team from the Writing Centre for considering the Academic Registrar’s Department. Writing is central to everything that we do – from keeping accurate minutes to communicating decisions. This training will greatly improve our writing skills,” she said.

Mrs. Mushengyezi emphasized that official records, especially minutes, must be accurate, ethical, and well-structured. She reminded participants that minutes are not mere summaries, but legal and public documents that can serve as evidence in administrative or legal matters. “When we write minutes, we must remember they represent official proceedings and can be used in courts of law. This calls for professionalism, clarity, and ethical responsibility in your daily work,” she stated.
Speaking during the workshop, Professor Fredrick Jones Muyodi, the Team Leader, Makerere University Writing Centre (MakWC), explained that the Centre is pivoted to support the University’s strategic goal of becoming a research-led institution by 2030. Established and institutionalized in 2025 by the University Senate and Council, the Centre operates under the Directorate of Research, Innovations, and Partnerships (DRIP).

Professor Muyodi shared that the Centre has developed a comprehensive training and mentorship program to build writing skills across the University and beyond. The program will involve experts and mentors experienced in writing, collaborative research, and publication. It will use a hybrid approach, combining traditional teaching with online learning, case studies, and hands-on practice.
He also revealed that the Centre will offer short courses, lasting up to two weeks, in key areas such as academic, technical and scientific writing, editing and proofreading, policy brief and report writing, writing for community engagement, professional writing for administrators, and publishing. “These courses will strengthen the writing capacity of both staff and students while promoting research translation and effective communication,” he said.
On behalf of the Writing Center, Professor Ronald Bisaso commended the support from the Directorate of Human Resource and the Academic Registrar’ department for the identification of capacity development gaps, that provided the basis for the choice of topics and training facilitators.

During her presentation on the Fundamentals and Roles of a Minute Taker, Mrs. Mushengyezi underscored the importance of understanding institutional structures and governing frameworks before taking on the role of writing minutes. She explained that Makerere University’s governance system – from the University Council and Senate down to College Boards and departmental committees, operates under clear mandates, which minute writers must understand to accurately record proceedings.
She noted that effective minute writing begins with proper preparation, which includes knowing the committee composition, consulting the Chairperson about meeting details, and ensuring members receive timely notices and agendas. She advised participants to differentiate between regular, special, and emergency meetings, as each requires a unique approach to documentation. Drawing from experience, she encouraged participants to arrive early for meetings, verify meeting logistics, and carry official record books to ensure accuracy. “A well-prepared minute writer, not only captures discussions accurately, but also upholds the credibility of the meeting,” she remarked.
Mrs. Proscovia Nakayiki, Acting Deputy Academic Registrar (Examinations and Transcripts), led a session on Writing Techniques. During the session, she emphasized that minutes are vital for accountability, serve as a record for future reference, and inform those who missed meetings. “Well-written minutes should tell a clear, flowing story that remains meaningful even years later,” she said.

Ms. Nakayiki stressed that minute writing requires preparation and structure. She advised secretaries to be familiar with the meeting type and agenda, list all attendees and absentees, clearly summarize discussions, and outline action points. She also encouraged the use of templates, testing of recording devices beforehand, and remaining attentive during meetings to capture key decisions accurately.
Presenting on Policy and Legal Frameworks for Minute Writing, Ms. Esther Kabinga, Principal Legal Officer discussed the laws and policies that govern record keeping in Uganda. She noted that minutes are crucial for transparency and accountability, citing laws such as the Companies Act (2012), Public Finance Management Act (2015), and Access to Information Act. She also referenced some of Makerere University policies, including the Record Keeping Policy, Academic Records Management Policy (2022), and Communications Policy (2013). “Proper documentation protects both the institution and the individuals involved in decision-making,” she emphasized.

Discussing the Ethical and Responsible Use of Artificial Intelligence (AI), Prof. Paul Birevu Muyinda, Director of the Institute of Open, Distance and e-Learning, noted that AI has become part of everyday life. He commended Makerere University for adopting an official AI policy that promotes its ethical, inclusive, and responsible use in teaching, research, administration, and innovation. He urged participants to use AI as a supportive tool, combining it with human judgment and creativity while writing.
Building on to the aforementioned presentation, Dr. Godfrey Mayende, the Head, Department of Distance Learning and Deputy Director at the Institute of Open, Distance and eLearning, highlighted the role of digital platforms such as Zoom, Microsoft Teams, Google Meet, and WebEx in improving meeting efficiency and documentation. He pointed out that these platforms provide useful features like recording, transcription, and chat functions that make meetings more interactive and inclusive. “Familiarity with these tools enhances accountability and ensures that discussions are well-documented and easy to retrieve,” he advised.

Writers: Ritah Namisango is a Principal Communication Officer at Makerere University. Christopher Kaahwa contributed to this article as a Volunteer. Christopher Kaahwa is a Graduate of Makerere University-Bachelor of Journalism and Communication.
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Meet Sedrick Nuwagaba, a Mastercard Foundation Scholars Program Alumni Contributing to Uganda’s Oil & Gas Industry
Published
1 week agoon
November 5, 2025
Sedrick Nuwagaba, a 35-year-old petroleum engineer, is actively contributing his expertise to the Petroleum Authority of Uganda, which regulates the oil and gas sector. He obtained his Bachelor of Science in Petroleum Geoscience and Production from Makerere University in 2021, an opportunity he accessed through the Mastercard Foundation Scholars Program. Sedrick’s educational qualifications and professional responsibilities exemplify his commitment to advancing Uganda’s oil and gas sector.
Who is Sedrick Nuwagaba?
Sedrick was born on February 1, 1990, in Kashari, located within the Mbarara district of Western Uganda. He spent his early childhood in a large family, where he faced many challenges that shaped his resilient character. By the age of 14, Sedrick had become the primary breadwinner for his immediate family, comprising his mother and two sisters. His unwavering commitment to their well-being remains evident to this day.
To support his family during these formative years, Sedrick took on a variety of jobs in his community. These early experiences cultivated in him resilience and tenacity, qualities that have significantly contributed to his success as a petroleum engineer.
Following these family challenges, Sedrick and his immediate family relocated from Kashari to a new area in what is now Lyantonde district, where they continue to reside. His journey not only reflects personal growth but also underscores a steadfast commitment to uplifting those around him.

Early Education
The implementation of Universal Primary Education (UPE) in Uganda in 1997 was a pivotal development for Sedrick, facilitating his enrollment at St. Martin Lyantonde Primary School at the age of seven, which was conveniently located near his residence. Sedrick expresses deep appreciation for this initiative, commenting, “Without UPE, I might not have had the opportunity to pursue my education. It truly opened the door for me to attend school and engage in learning.” Despite confronting considerable challenges, including a lack of necessities such as food, Sedrick distinguished himself academically. He achieved top candidate status among UPE schools in his district, earning an impressive seven aggregates in the Primary Leaving Examinations—a remarkable accomplishment given the adversities he faced.
Pursuing Secondary Education
Sedrick faced significant challenges after earning 7 points in the Primary Leaving Examinations, as he was unable to secure a bursary. At that time, alternative arrangements for Universal Secondary Education were limited, which made it difficult for him to continue his education. However, demonstrating remarkable resilience, Sedrick sought work at 14 to fund his secondary education. Through his determination and resourcefulness, he enrolled at Victoria Western College, a small private school in his area, where he attended for three years, reaching Form 3.

Although financial barriers hindered his progress to Form 4, Sedrick’s journey shows his dedication to education and his ability to overcome adversity. Fortunately, his elder half-brother, a businessman in the neighbouring town of Mbarara, reached out and helped him enrol in Form 4 at Kashari Secondary School in Mbarara in 2007.
Embarking on a Journey to Iraq in Search of Opportunity
In 2008, facing difficulties in pursuing his education, Sedrick made the brave decision to take up a security job during the conflict in Iraq between 2003 and 2011. At that time, many young Ugandans were recruited to provide buffer security support to the U.S. military in Iraq. During his time in Iraq, Sedrick not only earned a stable income to support his family but also cared for his mother and funded his two sisters’ education, ultimately improving their lives. Unfortunately, his contract ended in 2010, and he had to return to Uganda to write the next chapter of his life.
Joining the Mastercard Foundation Scholars Program at Makerere University
Upon returning to Uganda after his experience in the Iraq War, Sedrick recognised that education was the key to transforming his life. With a determined mindset, he committed himself to his studies, understanding the long-lasting impact they could have on his future. Thanks to his perseverance and the relationships he had built, Sedrick obtained a bursary from a religious organisation, enabling him to resume his high school education six years after his last time in school.
In 2015, he completed his high school education at Namirembe Hillside, where he studied Physics, Mathematics, and Chemistry. With 15 points in his final exams, he was admitted to the Bachelor of Science in Petroleum Geoscience and Production program, supported by the Mastercard Foundation Scholars Program at Makerere University.

“Participating in the Mastercard Foundation Scholars Program at Makerere University significantly changed my life. For the first time, I was free from the constant worries about necessities like food and shelter. The Mastercard Foundation Scholars Program provided me with a supportive environment that allowed me to focus on my education and personal growth,” Sedrick shared.
Life After Makerere University
In 2020, after graduating, Sedrick had the opportunity to intern at the Uganda National Oil Company (UNOC) in the Reservoir Engineering section. During his internship, he demonstrated exceptional dedication and expertise in the oil and gas sector. His performance led to his promotion to a Graduate Trainee, which provided him with valuable experiential learning and expanded his exposure within the industry. This experience ultimately paved the way for his recruitment as a Petroleum Engineer at the Petroleum Authority of Uganda, where he now contributes to the regulation of petroleum exploration activities in the country.
Impact on the Community
Upon graduating from university, Sedrick took a proactive approach that set him apart from his peers. He launched Kleanerman, a social venture project designed to have a positive impact on his community. This initiative provides valuable short-term, on-demand domestic services—such as home cleaning, laundry, and babysitting—catering to the needs of busy city residents. Through Kleanerman, Sedrick has successfully created employment opportunities for several young men and women in his community of Kanyanya, fostering both economic growth and personal development.

Due to his own challenges during his educational journey, he has developed a deep commitment to helping other young people facing difficulties with school expenses. To date, he has successfully supported seven young individuals in his Lyantonde community, guiding them from primary through secondary education. His long-term goal is to establish a charitable organisation dedicated to providing young people facing barriers to education with the resources they need to access quality education.
Looking into the Future
Sedrick is dedicated to making a meaningful impact in Uganda’s oil and gas sector. He, along with his colleagues, is focused on ensuring that Uganda achieves its inaugural oil production by 2026.
“Each day, our collective efforts are directed toward successfully introducing Uganda’s first oil into the market by the end of 2026, and expanding the country’s petroleum resource base by discovering more oil reserves,” Sedrick states with evident pride. He is also committed to advancing his career in the oil and gas industry. From his earnings, he has enrolled for a Master’s degree in Petroleum Geosciences at Makerere University to deepen his skills and expertise in the sector.
Message to his fellow young people
Sedrick urges the current Mastercard Foundation Scholars enrolled in the Mastercard Foundation Scholars Program at Makerere University, as well as those at other universities, to make the most of the support provided by the Mastercard Foundation Scholars Program. He emphasises the importance of engaging in capacity-building sessions, skill development programs, mentorship opportunities, and psychosocial support. Sedrick asserts that this comprehensive support framework has been instrumental in transforming his life and shaping who he is today.
He references a quotation that has become a guiding principle in his life: “Until death, all defeat is psychological.” Through this quotation, he seeks to inspire his peers to persevere, emphasising the notion that individuals can always recover and succeed despite the myriad challenges they may encounter in their initial endeavours.
Words of Gratitude
“The impact of the Mastercard Foundation Scholars Program on my life is profound and transformative. I am sincerely grateful to the Mastercard Foundation Scholars Program at Makerere University and to the Mastercard Foundation as a whole. It is my hope and prayer that the Foundation continues to make a positive difference in the lives of numerous young individuals, particularly within the African continent.” Sedrick emphasises.
His supervisor speaks out
Sedrick’s immediate supervisor, Mr Derrick Katusiime, the Senior Petroleum Engineer in the Directorate of Exploration at the Petroleum Authority of Uganda, was full of praise for him both at work and outside.

“Sedrick is very sociable and gets along well with everyone here at work, and his technical skills in just two years are impressive,” Mr. Katusiime pointed out.
Mr Katusiime further revealed that Sedrick champions values of integrity, active listening, and being an excellent team player. He goes the extra mile to complete tasks, takes on multiple responsibilities, and demonstrates humility and eagerness to learn.
Bernard Buteera is the Principal Communications Officer, Mastercard Foundation Scholars Program at Makerere University.
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