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Trustees Commended as MURBS Registers 17% Record Return on Investment

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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.

L-R: Mr. Walter Yorac Nono and Mrs. Dorothy Senoga-Zake (Rear) with Mr. Robert Katuntu and Mr. Wilson Kayindi (Front) at the 8th MURBS AGM

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.

L-R: Ms. Lisa Betty Oyella, Mr. Davis Mbuga, Ms. Janet Iremera (Rear) and MURBS' Ms. Susan Khaitsa listen to proceedings at the 8th AGM, Makerere University, Kampala Uganda

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.

Cover Page of the MURBS Annual Report for the year ended 30th June 2018 with happy retiree Prof. David Musoke Serwadda

"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.

The Chairperson, MURBS Board of Trustees-Mr. Wilber Grace Naigambi delivers his remarks at the 8th AGM

“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.

Representatives from MURBS' service providers, Stanbic Bank Uganda, Sanlam Investments East Africa, GenAfrica Asset Managers Limited and Octagon Uganda Limited (Front) and part of the audience (Background) at the 8th AGM, Makerere University, Kampala Uganda

“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.

MURBS and Council Member, Assoc. Prof. Wilson Tumps Ireeta (with microphone) poses a question during the session to discuss financial reports at the 8th AGM

“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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Makerere University Launches National Parenting Draft Manual

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The Director of Culture at the Ministry of Gender, Labour and Social Development, Ms. Juliana Naumo Akoryo (Centre) and Dr. Godfrey Siu, the Principal Investigator from Mak-CHDC (Right) interact with a participant at the workshop on 22nd July 2022, Kampala.

By Agnes Namaganda

On July 22nd 2022, Makerere UniversityChild Health and Development Centre (MakCHDC) launched a draft manual for the National Parenting Standards. The Centre has been working together with the Ministry of Gender, Labour and Social Development (MGLSD) with funding from UNICEF (United Nations Children’s Emergency Fund), to develop standards that are agreeable to all organisations in the country that are involved in parenting work. The draft manual was being presented to members of a consortium that brings together all these organisations together, called the Parenting Agenda Consortium.

“We produce many documents and they are shelved,” Irene Ayot Chono, who was speaking on behalf of UNICEF said. “We hope that this document will not be one of them,” she emphasized.

Irene Ayot Chono-UNICEF, urging participants to utilize the manual once it is complete.
Irene Ayot Chono-UNICEF, urging participants to utilize the manual once it is complete.

Dr. Godfrey Siu, the Principal Investigator from Mak-CHDC who presented the draft manual to participants, emphasized that if any organization is doing parenting work, there should be a minimum package that they should offer.

Draft Manual Content

The manual which will have several modules. These modules will be delivered face-to-face in 1.5 hour sessions. Some of these include; Module 6 which will focus on “understanding responsible masculinity and fatherhood” and on “understanding the concept of head of family.”The draft manual also proposed that Module 11 focuses on Parenting in the 21st Century. Some of the sessions in this module will include Children and Technology, Contemporary Influence on Children and Modernity, Culture and Morality.Module 9 will focus on Parenting for Adolescents and some of the suggested sessions within this module are Needs for Adolescents and The Art of Communicating with Adolescents. Module 5 will focus on Preventing Violent Parenting and Promoting Alternative Discipline Strategies while Module 10 will be about Parenting to Address the Mental Health for Children and Adults.

Dr. Godfrey Siu, the Principal Investigator from Mak-CHDC presenting the contents of the National Parenting Standards Draft Manual.
Dr. Godfrey Siu, the Principal Investigator from Mak-CHDC presenting the contents of the National Parenting Standards Draft Manual.

Participants’ suggestions

After the presentation, participants raised several suggestions for discussion and consideration. These included whether there should be a module on spirituality since Uganda is a strongly religious nation. There was also the concern of how children in remand homes should be parented. Another concern raised by a participant was as to whether teachers who make an undeniable contribution to parenting, should be taken through the parenting manual.

A participant gives her input at the National Parenting Standards Draft Manual launch.
A participant gives her input at the National Parenting Standards Draft Manual launch.

In her closing remarks, Ms. Juliana Naumo Akoryo, the Director of Cultural Affairs at the Ministry of Gender, Labour and Social Development (MGLSD) said that the manual is for the parenting organisations to utilize and not for MGLSD.

The Director of Culture at the Ministry of Gender, Labour and Social Development, Ms. Juliana Naumo Akoryo making closing remarks at the workshop.
The Director of Culture at the Ministry of Gender, Labour and Social Development, Ms. Juliana Naumo Akoryo making closing remarks at the workshop.

Ms. Chono also adjured the team behind the manual to use picture illustrations in the manual that can be relatable by the Ugandan parents.

Contact: Agnes Namaganda – agnesvioletnamaganda@gmail.com

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Launch of Mak-RIF Round 4 Awards & PhD Call for Proposals

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Mak-RIF 4 Awards and PhD Call For Proposals, 29th September 2022, 9:00 to 10:00 AM EAT.

Makerere University received funding from the Government of the Republic of Uganda, earmarked to support high impact Research and Innovations. This unique initiative arose after engagements between the top University Management and the Government of Uganda. This fund illustrates the increasing importance that the Government attaches to Research and Innovation as a driver of development and transformation. The objective of the fund is to increase the local generation of translatable research and scalable innovations that address key gaps required to drive Uganda’s development agenda. 

In the Financial years 2019/2020, 2020/2021 and 2021/2022 the Government of the Republic of Uganda through Mak-RIF has funded implementation of over 750 multidisciplinary research and innovations within the various Colleges, while engaging multiple stakeholders within and outside Makerere University. The Grants Management Committee (GMC) has finalized the award process for the Mak-RIF round 4 call for funding for this Financial Year 2022/2023.

The Grants Management Committee (GMC) hereby invites you to the Launch of the Mak-RIF Round 4 awards and PhD Call for Proposals scheduled to take place tomorrow Thursday 29th September 2022 from 9:00 to 10:00 a.m. EAT. 

Please use the following details to join the launch.

Register in advance for this meeting:
https://us06web.zoom.us/meeting/register/tZwpcu-urDIjE9ZgxdsbEmA2IkNMMiJVECt_ 
Meeting ID: 884 5662 9992
Password: 292624

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Notice: Makerere Disability Scheme 2022/23 Medical Review Exercise

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One of the PWD graduands at the 69th Graduation during the Session held on 17th January 2019.

The Academic Registrar, Makerere University invites persons with disability who applied for admission to public universities under the disability entry scheme for 2022/2023 Academic Year to appear for medical/review exercise at Makerere Unive, Senate Building, Level Two (2) in the Telepresence Centre.

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 2020, 2019 and 2018 are eligible for admission.

THE EXERCISE WILL BE CONDUCTED ON 3rd, 4th and 5th October, 2022 respectively from 9.00 A.M – 1.00 P.M each day.

IMPORTANT:

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

(ii) Applicants with Government Scholarship for the previous years are not eligible for admission

ALFRED MASIKYE NAMOAH

Acting. ACADEMIC REGISTRAR

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