General
Nurturing Entrepreneurs: VC Launches Mastercard US$200k Seed Fund
On Friday, 15th February 2019, the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe represented by the Principal, College of Business and Management Sciences (CoBAMS) Dr. Eria Hisali launched the Entrepreneurship Seed Fund for the MasterCard Foundation Scholars and Alumni of Makerere University. The Entrepreneurship Seed Fund will support Scholars and alumni to create economic opportunities within their communities through social ventures.
The Mastercard Foundation announced a seed funding of US$2,000,000 on 11th August 2018 at the Baobab Summit in Kigali, Rwanda, to implement the Foundation’s Strategy in Africa titled: Young Africa Works in the next two years (2018 to 2020). The strategy focuses on finding solutions to the youth employment challenge and reducing poverty in Africa. The Foundation believes that young people, especially Scholars, will drive and lead change in Africa and are already working hard to fulfill this vision.
Makerere a partner university with Mastercard Foundation received US$200,000 as an Entrepreneurship Seed Fund. According to the Coordinator of the MCF Scholars Program at Makerere University Dr. Florence Nakayiwa, the funding will be geared towards nurturing scholars to come up with social and business ventures. The funds will also help to deepen the development of skills and mindsets required of Scholars as transformative leaders, committed to improving the lives of others.
“The Program Implementation Team designed a seed funding framework to ensure that, the fund will have the greatest impact possible in developing the Scholars as transformative leaders, creating jobs and change through the business ventures. In some cases, Scholars’ ventures will also serve as a ‘transition’ vehicle for them to gain employment after graduating university through their ventures” she said.
The Internship and Entrepreneurship Coordinator of the MCFSP at Makerere University Mr. John Osuna said that the Entrepreneurship Seed Fund is open to all business concepts or social projects that have a high-growth potential, are profitable in nature, have the ability to create jobs and are scalable. The eligible business concepts or ideas include; innovations in Sustainable Agriculture, applications of the service or technological innovation, food processing, tourism, trading, renewable energy, fashion, education, health, artificial intelligence and scaling up existing concepts or ideas.
Mr. Osuna also mentioned that the Fund is ring fenced for the Mastercard Foundation Scholars and Alumni as Principal Investigators or Team Leaders, but the Scholars are encouraged to work with other non-Scholars (other students in at Makerere University) on profitable and social impact projects.
“The first cycle commences this month on 23rd February 2019 with a Social design course for 6 weeks among other development support inclusive of finance up to US$6,000 per project, and mentorship; the second cycle, will be in February 2020,” he explained.
Eligibility and selection criteria
- Scholars in their final year of study supported by the Mastercard Foundation Scholars Program at Makerere University.
- Scholars must be the team leaders in a team of two to four people.
- Where the Scholars choose non-Scholars on their teams, the non-Scholars must be final year students at Makerere University and should not be more two per team.
- The business concepts or Social Venture Projects should be profitable, scalable and be able to create jobs for youth.
At the launch of the Entrepreneurship Seed Fund, Prof. Eria Hisali, thanked Mastercard Foundation for the bright idea that is going to change the mindsets of scholars towards business development. Prof. Hisali said that Makerere University has embarked on looking for work placements and opportunities that can support students’ social and business ideas.
“We have realized that unemployment is a big challenge to our students, therefore, we have embarked on seeking opportunities that can provide with students either jobs, or ideas to support their ventures. We are getting touch with the government to tap into the wealth creation programs that are geared towards helping youth. The University is revitalizing its Endowment Fund, and we believe that; as the funds grow, some should be channeled to these entrepreneurial activities,” he said.
He urged scholars to fully utilize the opportunity from Mastercard Foundation and build their entrepreneurial world.
He called upon students and other youth to tap into the government programs when he said, “as long as you are organized, this support will be availed to you. To the Scholars and Alumni, access to the seed fund is going to be a competitive process. Therefore, to the business projects that succeed I wish you the best in your new enterprises and to the ones that do not succeed, I believe the skillset acquired during the development support will place you in a better position to pitch your projects to other organizations in Uganda and beyond for funding.”
Mr. Ronald Edward Mukasa, the Business Development Manager at Enterprise Uganda, encouraged young entrepreneurs to always be innovative and flexible. In a presentation he made, Mr. Mukasa called upon scholars to pay attention to the 3Cs (Care, Competence and Character) when preparing to join the business or social venture sector. According to him, the business world is looking for people who can find problems and look out for the solutions. He therefore said that someone’s passion matters when engaging in business.
“The reason one goes to school is to discover him or herself. Have passion while working on your ventures and be exceptional. The new environment has space for someone that has an excellent idea. People are willing to pay attention to someone who is good at what he or she is doing. Therefore, you need to go beyond wearing a jersey and be able to score a goal,” he advised.
At the same function, the Vice chancellor launched the Mastercard Foundation Scholars Program (MCFSP) Alumni Association; a network that brings together graduates of MCFSP at Makerere University to share opportunities in academics, employment and entrepreneurship among activities.
The Principal Public Relations Officer of Makerere University Ms. Ritah Namisango encouraged students to fully utilize all the available volunteering opportunities, since this will help them to accumulate the much needed experience as they transition from the academic to the professional work environment.
The Scholars Council Representative on MCF Mr. Petere Ngobi and the Alumni Association Representative Mr. Charles Katuramu encouraged scholars to always take up leadership positions and develop their societies.
Guests were entertained by a remarkable poem from Mr. Andrew Muwhezi; a scholar from CoBAMS, as well as a team of scholars from Lane256.
Article Written by Public Relations Office
General
NCBA Commits UGX 1.45 Billion to Makerere Marathon, Pledges Five-Year Support for Inclusive Education
By Eve Nakyanzi and Atwenda Nancy
Makerere University has officially unveiled NCBA Bank Uganda as the platinum sponsor for the 2025 Makerere University Marathon (#MakRun2025), marking a significant milestone in the institution’s journey toward inclusive and sustainable student support. The partnership was formally announced during a colourful event held at the university, attended by the Vice Chancellor, Prof. Barnabas Nawangwe, Dr. Maggie Kigozi, Chairperson of the Makerere University Endowment Fund, and NCBA Bank Uganda CEO, Mr. Mark Muyobo.
NCBA Bank Uganda’s UGX 1.45 billion sponsorship over the next five years is the largest corporate contribution to the Makerere Marathon to date. It underscores the bank’s commitment to supporting quality education, community development, and equity. Mr. Muyobo said that, “We are driven by the desire to leave every community better than we found it”. He added that the goal is to empower disadvantaged students to live without limitations, describing this initiative as a bold stride toward establishing a world-class international marathon.
“This is more than just a sponsorship, it is a strategic partnership built on shared values,” Dr. Kigozi remarked. “With this support, we are positioned to establish a fully equipped Disability Support Unit and a sustainable pool of funds to assist economically disadvantaged students.”
The marathon, slated under the theme “Run the Hills for the Future,” seeks to unify students, alumni, corporate entities, and professional athletes in pursuit of a common cause. At its core, the MakRun2025 promotes active lifestyles, social inclusion, and a sense of communal responsibility.
“It’s not just a race,” Prof. Nawangwe emphasized. “It is a movement to break barriers, change lives, and build a resilient, inclusive university.”
The marathon’s broader impact includes fundraising for students living with disabilities and those facing financial hardship, contributing directly to the university’s Endowment Fund.
A major highlight of the event is the introduction of a full 42.2-kilometer marathon—bringing international standards to the annual run. Organizers have promised a professional, accredited experience with traffic-free routes and ample support for runners.
“This edition will elevate the MakRun into a world-class event,” said Mr. Muyobo. “We are proud to support Makerere University in realizing its dream of a globally recognized marathon that reflects Uganda’s commitment to education and inclusivity.”
Beyond the race itself, the event will feature a vibrant line-up of activities, including music, drama, and games for all age groups. It is designed to foster a festival-like atmosphere that welcomes every member of the community.
Organizers and university leaders have extended an open invitation to students, staff, alumni, corporate partners, and Kampala residents to participate, cheer, or donate to the cause.
“Every step taken is a step towards hope for a student,” Dr. Kigozi stated. “Together, we are building a Makerere that cares, includes, and uplifts.”
The partnership is expected to significantly enhance the university’s ability to support underprivileged students and improve campus infrastructure for students with disabilities. It also sets the tone for future collaborations that align with the values of compassion, excellence, and innovation. The fifth edition of the MakRun is scheduled to take place on August 17th, 2025.
The Writers are Interns in the Public Relations Office, Makerere University
Makerere University has today Wednesday, 9th June 2025 officially unveiled NCBA Bank Uganda as the Platinum Sponsor of the Makerere University Endowment Fund (MakEF)’s flagship initiative – the Makerere University Marathon. Formerly known as a fun run, the initiative was rebranded on 27th March 2025 during the launch of its Fifth Edition. This year’s event, #MakRun2025, is slated for 17th August 2025 under the theme “Run the Hills for the Future”.
Addressing the Media at a press conference this afternoon, the MakEF Board Chairperson, Dr. Maggie Kigozi remarked, “We are deeply honoured and excited to unveil NCBA Bank Uganda as the Platinum Sponsor of #MakRun2025, with a landmark commitment of UGX 1.45 billion over the next five years.”
Dr. Kigozi further described the unveiling as “a strategic partnership built on shared values and a common vision for inclusive education and sustainable impact,” adding that it would “fast-track the establishment of a fully equipped Disability Support Unit for students living with disabilities, and to build a sustainable pool of funds to support Economically Disadvantaged Students.”
Appreciating the generous sponsorship, the Vice Chancellor, Prof. Barnabas Nawangwe acknowledged that NCBA Bank had not only made history as the biggest corporate sponsor of #MakRun to date but also aligned with Makerere’s vision to improve the quality of student life. “This is a powerful gesture of trust in our mission and a demonstration of deep corporate citizenship”, he added.
Prof. Nawangwe further thanked NCBA for recognizing that an investment in Makerere University is an indirect investment in the future of Uganda. “The Makerere Marathon is not just a race. It is a movement to establish a fully-fledged Disability Support Unit for students living with various forms of disabilities, and to build a sustainable fund for Economically Disadvantaged Students.”
The Vice Chancellor therefore rallied staff, students, alumni, partners and friends of Makerere to match NCBA’s generous support with vigour and commitment, so as to make #MakRun2025 the most impactful edition since its founding.
The Chief Executive Officer, Mr. Mark Muyobo thanked Makerere University for giving NCBA Bank Uganda the opportunity to play its part in “shaping Uganda’s future one student, one community, one strength at a time,” adding that #MakRun is a symbol of hope for students living with disabilities as it speaks to Makerere’s core values of inclusion, equity, and excellence.
On a rhythmical note, Mr. Muyobo remarked that the #MakRun2025 theme is “not just about finishing lines, it is about opening doors; giving opportunities to those who are disabled. It is about promoting active lifestyle.”
#MakRun2025 will for the first time feature a full 42.2km marathon race with international accreditation and professional timing along a dedicated traffic-free route.
“These are not just upgrades, these are bold steps towards building a world-class international marathon right here in Kampala. We are proud to be the wings at your back as you take this leap because when Makerere University, the beacon of higher learning in Uganda grows stronger, the ripple effects are felt across the region and across the continent” Mr. Muyobo affirmed.
To officially seal the deal, a Memorandum of Understanding was officially signed between Makerere University and NCBA Bank Uganda, and thereafter, a dummy cheque of UGX 1.45 billion was presented to Dr. Maggie Kigozi as the Vice Chancellor, Members of Management and NCBA staff witnessed.
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