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URBRA Tips 2nd Mak Seminar on Early Preparation for Retirement
- Age is inevitable; it’s you to make your retirement enjoyable – URBRA
- Old age is a treasure in life but how are going to enjoy it? – URBRA
Thousands of members of the Makerere University family filled the Main Hall on Tuesday, 19th February 2019 to learn more ways on how to save for their retirement. Right from the onset, the massive turn up of both staff and students listened attentively to the speakers who made presentations on various saving and retirement scheme options.
Addressing the audience, the Chairman Board of Directors Uganda Retirement Benefits Regulatory Authority (URBRA), Mr. Andrew Kasirye thanked everyone for sacrificing their time and attending the conference. He went on to share that URBRA is extending its services to the students in order to make them prepare for their old age, as the earlier one starts saving, the more money one receives upon retirement.
“It has come to our attention that students have money but don’t know how and when to spend it. As URBRA, we decided to come and extend our services to you so as to help you learn and adopt a saving and investment culture when you are still energetic; don’t wait until you get a lot of money before you start thinking of saving,” Mr. Kasirye advised.
He noted that URBRA is committed to implementing its strategic objective that aims at improving understanding and promoting the development of the Retirement Benefits Sector and expounding on the people’s understanding about saving for retirement.
Mr. Kasirye further acknowledged the excellent cooperation URBRA has with Makerere University Retirement Benefits Scheme (MURBS) and noted that they work hand in hand towards achieving the shared goal, which is ensuring that the rights of scheme members are adequately safeguarded.
The Principal, College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali thanked URBRA for working hand in hand with the School of Statistics and Population Studies to extend its services to the mighty Makerereans. He urged URBRA to continue this good service so as to sensitize the young generation.
Addressing the challenges of old age, poverty and the role of the Retirement Benefits Sector in the Economic Development, the Manager Research and Sector Development URBRA, Mr. Mukiibi Benjamin defined saving as the portion of current income not spent on consumption, and investment as the purchase of assets with the goal of increasing future income. He noted that saving for retirement is a long life term goal which everyone above 18 needs to engage in so as to live an enjoyable retirement.
He advised the students to save regardless of what they get if they want to enjoy their old age. “Even with so little earned, and many demands, one requires saving for retirement. Your most needy time is when you are retired and there is nothing to support you and you end up living a miserable life,” noted Mr. Mukiibi.
Mr. Mukiibi who is also a proud alumnus of Makerere University urged the Makerere fraternity to treasure their old age by making good use of every stage that they go through.
“Always ask yourself what kind of job you will do when you clock 60, use every stage of your life carefully and build a future of wealth and stability,” he advised.
Briefing the audience on the mandate and functions of URBRA the Acting Chief Executive Officer, Mr. Martin Nsubuga; another proud alumnus of Makerere, revealed that a students’ retirement savings scheme was opened last year to enable learners start saving early for their retirement, “for it is the black hair that works for the grey hair.”
“The longer you save the more money you save. Saving at a tender age is much better than saving at a late age when your retirement is at the door,” advised Mr. Nsubuga.
He also noted that once one has joined URBRA, he/she can save UGX1,000 daily and accumulate it till he/she reaches the retirement age of 55.
Speaking to the audience, the Patron Makerere Actuarial Society (MAS), Dr. Hellen Namawejje thanked URBRA for the great work done in extending its services to Makerere University students. She noted that this was the second successful Mak-URBRA seminar and thanked the audience for the massive turn up and pledged continuity of the educative seminars.
Article by Rachael Kanyi, Volunteer, Mak Public Relations Office
General
Makerere University and World Bank Sign Partnership to Strengthen Environmental and Social Sustainability Capacity
On 5th March 2026, Makerere University signed a Memorandum of Understanding (MoU) with the International Development Association (IDA), the financing arm of the World Bank Group, establishing a strategic partnership aimed at strengthening environmental and social sustainability systems in Uganda and the wider East African region.
The collaboration brings together Makerere University through the College of Agricultural and Environmental Sciences (CAES) and the College of Humanities and Social Sciences (CHUSS) and the World Bank to jointly advance training, research, and policy advisory in environmental and social sustainability.
The three-year agreement provides a framework for cooperation focused on building national capacity to manage environmental and social risks associated with large-scale development investments.
Advancing Sustainable Development through Knowledge Partnerships
The partnership will be anchored in the Environment and Social Sustainability Centre (ESSC) at Makerere University, a national hub established to promote applied research, policy engagement, and professional training in environmental and social governance.
Through the Centre, the two institutions will collaborate to strengthen Uganda’s ability to plan and implement development projects in ways that safeguard communities and the environment.
Speaking during the signing ceremony, Ms. Francisca Ayodeji (Ayo) Akala, the World Bank Country Manager emphasised that the collaboration reflects a shared commitment to strengthening systems that support sustainable growth.
“This partnership with Makerere University is an important step in strengthening Uganda’s systems for environmental and social sustainability. By working through the Environment and Social Sustainability Centre, we aim to build the capacity of professionals across government, the private sector, and development institutions to better manage environmental and social risks and deliver investments that promote sustainable growth while protecting people and the environment.” Ms. Francisca Ayodeji (Ayo) Akala, World Bank Country Manager, Uganda, noted.
The partnership will support training, research, and policy advisory activities through the ESSC, helping Uganda pursue a development trajectory that promotes economic growth while protecting people and the environment.
Building National Capacity for Environmental and Social Risk Management
Uganda’s development agenda under the Fourth National Development Plan prioritises large-scale investments in infrastructure, agro-industrialisation, energy, and science and technology. However, such investments require strong environmental and social risk management systems to ensure sustainable outcomes.
The new partnership, therefore, focuses on building a skilled workforce capable of applying international best practices in environmental and social governance.
Under the MoU, Makerere University will design and deliver demand-driven short-course training programs targeting public sector officials, development practitioners, financial institutions, civil society organisations, and private sector actors implementing major projects.
Seven certificate-level short courses have already been developed and approved across multiple colleges at the University. These courses cover areas such as environmental and social risk management, climate risk assessment, construction health and safety, and integrating environmental and social considerations into investment cycles.
“Makerere Universityis proud to partner with the World Bank in strengthening Uganda’s capacity to manage environmental and social risks in development investments. Through the Environment and Social Sustainability Centre, we have already developed and approved seven certificate-level short courses across multiple colleges, designed to equip professionals in government, the private sector, and development institutions with practical skills to plan and implement sustainable projects. This collaboration reflects Makerere’s commitment to providing knowledge-driven solutions that support Uganda’s development while safeguarding communities and the environment.” Prof. Barnabas Nawangwe noted.
Strengthening Collaboration between Academia and Development Partners
As part of the agreement, the World Bank will support the development and delivery of the training programs, including conducting Training of Trainers (ToT) on the Bank’s Environment and Social Standards and international best practices.
The Bank will also leverage its convening power to encourage participation from development partners, government institutions, and project implementers, while supporting impact monitoring of trained professionals to document improvements in project performance and job creation.
The collaboration will further promote professional networking, policy dialogue, knowledge exchange, and the development of knowledge hubs containing environmental and social tools, databases, and resources for practitioners.
Positioning Makerere as a Regional Knowledge Hub
Through this partnership, Makerere University seeks to position the Environment and Social Sustainability Centre as a leading knowledge hub for environmental and social governance in Africa.
By combining academic expertise with the World Bank’s global experience in development financing and technical assistance, the initiative is expected to strengthen the institutional capacity required to deliver sustainable and climate-resilient investments in Uganda.
The partnership also aligns with the World Bank’s broader commitment to supporting Uganda’s development agenda and strengthening country systems for environmental and social sustainability.
Together, the two institutions aim to equip professionals across government, the private sector, and development organizations with the skills required to ensure that Uganda’s development pathway remains inclusive, responsible, and environmentally sustainable.
Caroline Kainomugisha is the Communications Officer, Advancement Office, Makerere University
General
Makerere University Explores Expanded Partnership with Stanbic Bank to Advance Innovation and Investment
On 5th March 2025, the Vice Chancellor, Makerere University, Prof. Barnabas Nawangwe, paid a courtesy visit to Stanbic Bank Uganda’s Chief Executive Officer, Mr Mumba Kalifungwa. The purpose of the visit was to explore areas for further collaboration with Stanbic Bank Uganda to strengthen innovation, entrepreneurship, and strategic investment.
The engagement reaffirmed the long-standing relationship between the two institutions and provided an opportunity to explore how academia and the financial sector can work together to unlock opportunities for students, staff, alumni, and the broader Ugandan community.
Discussions during the meeting focused on innovation and entrepreneurship support, student development programs, infrastructure partnerships, and investment opportunities linked to the University’s strategic development agenda.
Driving Innovation and Youth Entrepreneurship
During the engagement, the Vice Chancellor highlighted Makerere’s continued efforts to position itself as a research-led and innovation-driven university, emphasising the importance of partnerships with industry in translating academic research and ideas into practical solutions.
He underscored the need to empower young people with the skills and support required to create enterprises and generate employment opportunities, given Uganda’s fast-growing population, particularly the mushrooming young population. According to UBOS, by 2024, the young population was approximately 22.8 million persons out of a total population of 45.9 million people.
“If we do not support young people to innovate and create enterprises, we risk facing serious economic and social challenges. The employment of the future will increasingly be created by young people themselves,” he noted.
Among the proposals discussed was the possibility of establishing a Stanbic-supported innovation competition, aimed at stimulating entrepreneurship and providing a platform for students and young innovators to transform ideas into viable businesses.
Such an initiative could build on existing innovation and incubation programs run at Makerere and Stanbic Bank while strengthening collaboration between academia and the private sector in supporting enterprise development.
Expanding Strategic Collaboration
Speaking during the meeting, Mr Mumba Kalifungwa, the Chief Executive Officer of Stanbic Bank Uganda reaffirmed the bank’s commitment to strengthening its partnership with Makerere University.
He noted that while the bank has long provided financial services to the university and its staff, there is a significant opportunity to deepen collaboration in areas that generate broader societal impact.
“As an institution, we are interested in partnerships that go beyond financial services to create meaningful impact in society through the Stanbic Bank positive impact agenda. Education is one of the most important sectors through which we can drive that impact,” he noted.
The CEO also highlighted Stanbic Bank’s National Schools Championship program, which promotes innovation among secondary school students across Uganda, noting that a similar approach could potentially inspire initiatives at the university level.
Exploring Investment and Infrastructure Opportunities
The meeting also explored opportunities for collaboration in investment and commercialisation initiatives linked to university infrastructure and land assets.
University representatives shared insights into ongoing efforts to explore public–private partnership (PPP) models for strategic investments aimed at improving infrastructure and unlocking value from underutilised university assets.
Potential development opportunities discussed include projects related to hospitality facilities, commercial spaces, and other revenue-generating infrastructure within and around the university. Such initiatives could provide sustainable revenue streams for the university while creating opportunities for private sector participation in campus development.
Supporting Students, Staff, and Alumni
Additional discussions focused on expanding programs that benefit the wider Makerere community. These include financial literacy initiatives for students, expanded internship and graduate training opportunities, and collaborative programs to support student entrepreneurship and enterprise development.
The meeting also explored opportunities for collaboration in alumni engagement, leveraging Makerere’s extensive global alumni network to strengthen partnerships between the university and industry.
Programs aimed at improving financial preparedness and retirement planning for staff were also discussed, alongside potential housing and asset financing solutions tailored to the needs of university employees.
“Through this partnership, we are exploring opportunities that support the entire Makerere community, from financial literacy and entrepreneurship programs for students to internship pathways, alumni engagement, and financial preparedness initiatives for staff. These efforts will be anchored within the renewed collaboration framework between Makerere University and Stanbic Bank Uganda,” said Mr Awel Uwihanganye, Chief Advancement Officer.
The Chief Advancement Officer further noted that these initiatives are expected to be anchored within a renewed Memorandum of Understanding (MoU) between Makerere University and Stanbic Bank.
A Shared Vision for Impact
Both institutions expressed optimism about the potential of the partnership to contribute to national development by supporting innovation, enterprise creation, and the development of future leaders.
As Makerere University continues to strengthen its role as a leading research and innovation institution in Africa, partnerships with forward-looking institutions such as Stanbic Bank Uganda remain critical in advancing the university’s mission of generating knowledge, nurturing talent, and driving solutions that address national and global challenges.
Caroline Kainomugisha is the Communications Officer, Advancement Office, Makerere University
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