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MURBS Declares 10.6% Interest, Launches Annuity Arrangement & Property Project

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The Makerere University Retirement Benefits Scheme (MURBS) on 11th October 2019 at a presentation of its performance for the Financial Year 2018/2019 declared an interest of 10.6% payable on all members' opening balances as at 1st July 2018. MURBS also introduced two new products for Members; the Annuity Arrangement courtesy of the Insurance Company of East Africa (ICEA) and the Property Project, dubbed Ivory Estate Sonde.

Welcoming participants to the presentation, the Principal Pension Officer MURBS, Ms. Susan Khaitsa introduced Members of the Board of Trustees (BoT) who included; the Chairperson, Mr. Wilber Grace Naigambi, Ms. Dorothy Nannozi Kabanda, Mr. John Peter Okello and Mr. William Ndoleriire. Also introduced were co-opted Board Members; CPA David Ssenoga-Chair Audit Committee and Mr. Paul Kuteesa-Member, Finance and Administration Committee.

Ms. Khaitsa also recognised the; CEO, Uganda Retirement Benefits Regulatory Authority (URBRA)-Mr. Martin Nsubuga, Representative of the CEO, Insurance Regulatory Authority (IRA)-Mr. Chris Kananura and CEO, ICEA (Insurance Company of East Africa) Life Assurance Company-Mr. Emmanuel Mwaka. The service providers; Administrator-Octagon Uganda Limited, Custodian-Stanbic Bank Uganda Limited as well as Fund Managers-GenAfrica Asset Managers Limited and Sanlam Investments SA were equally well represented.

Addressing participants, the Chief Guest Rt. Hon. Daniel Fred Kidega, Vice Chairperson Makerere University Council who represented the Chairperson, Mrs. Lorna Magara, thanked MURBS for inviting Council to witness the 9th Presentation of its performance.

The Vice Chairperson of Makerere University Council, Rt. Hon. Daniel Fred Kidega

“On 1st April 2010, the Makerere University Council established MURBS. This in itself was a bold decision before the promulgation of the Uganda Retirement Benefits Regulatory Authority” noted Rt. Hon. Kidega.

The Chief Guest then informed participants that the Scheme Sponsor Makerere University Council and Government had as at 30th June 2019 paid over UGX 30billion of unremitted contributions to MURBS. He also reassured the audience of Council’s commitment to ensure that MURBS becomes the best scheme on the Ugandan market.

In his remarks, the Vice Chancellor Prof. Barnabas Nawangwe thanked the Chief Guest for sparing time to attend the presentation, noting that “MURBS matters are of great importance to Makerere University.”

He therefore congratulated MURBS upon coming up with the Annuity Arrangement and Property Project as innovations for Members. “I congratulate MURBS on these wonderful innovations because this shows that at long last this institution is breaking out of inertia in line with my manifesto theme; Unlocking the Potential of Makerere University.”

The Vice Chancellor, Prof. Barnabas Nawangwe

Prof. Nawangwe added that Makerere University as the foremost trainer of Managers, will enable our nation to achieve middle income status through research and innovations. He however noted that this would be impossible unless the human resource responsible for this training remains focused on their work with reassurance that their salaries will be paid on time and benefits secured upon retirement.

“As we strive to ensure that Makerere University makes her contribution to the country, we want to ensure that the people who are making this possible are relaxed. MURBS has a major responsibility in ensuring that our staff benefits are well taken care of and wisely invested” added the Vice Chancellor.

The former Chairman, Makerere University Academic Staff Association (MUASA) and Manager Communication and International Relations, Dr. Muhammad Kiggundu Musoke commended the Vice Chancellor for his support to MURBS over the years. “As Deputy Vice Chancellor (Finance and Administration), Prof. Nawangwe supported the proper running of MURBS and was readily available to settle any matters related to staff benefits.”

Dr. Kiggundu Musoke also paid tribute to the Chairperson, BoT, MURBS Mr. Wilber Grace Naigambi for being an exemplary and dependable representative of MUASA. He therefore appealed to the MUASA fraternity to always choose trustworthy and reputable representatives who will take the Scheme to greater heights.

Some of the MURBS Departmental Ambassadors who attended the Presentation of the MURBS FY 2018/19 Performance

Whereas MURBS declared an interest of 17% on 30th June 2018, this year’s reduced 10.6% declaration was attributed to a number of factors in the operating environment. Delivering the presentation on the Scheme’s performance, Mr. Naigambi shared that during the financial year 2018/2019, regional equity markets, which hold over 20% of the MURBS asset class declined greatly. This was attributed to weakening foreign investor appetite in light of global economic and trade uncertainties.

Nevertheless, MURBS collected UGX26billion in member contributions, compared to UGX23billion the previous financial year. The Scheme’s Total Net Assets also grew by 30% from UGX142billion in the 2017/2018 financial year to UGX178billion in 2018/2019.

Mr. Naigambi further announced that MURBS had in partnership with ICEA Life Assurance come up with the MURBS Annuity Arrangement and introduced two Annuitants; Mr. Michael Nganda from the Department of Mathematics and Assoc. Prof. Andrew Muwanga from the Department of Geology and Petroleum Studies. These shared their testimonies of their experience so far and benefits such as Health Insurance for the Annuitant and a spouse and Funeral cover that come with the arrangment.

The Chairperson MURBS BoT-Mr. Wilber Grace Naigambi (Centre) with L-R: CEO Life Assurance Company-Mr. Emmanuel Mwaka, Annuitants-Mr. Michael Nganda and Assoc. Prof. Andrew Muwanga, and Principal Pension Officer MURBS-Ms. Susan Khaitsa after the presentation on 11th October 2019

Mr. John Peter Okello on behalf of the BoT then presented MURBS’ first real estate development project; Ivory Estate Sonde. The project consists of 358 serviced plots starting at 50x100feet, spread out over a 50acre estate. Priority will be given to MURBS Members, who will be able to purchase each plot at UGX55million. MURBS has partnered its Custodian Stanbic bank to ease purchase of the plots by MURBS Members.

According to Mr. Jackson Emanzi, Stanbic Uganda’s Head of Home Loans, MURBS members will pay an initial 10% of the cost (UGX5.5million) and can access a loan facility within 48 hours to pay the balance over five years in UGX1.2million monthly installments. A dedicated desk has been set up at the Stanbic Bank Makerere Branch to ease access to the loan facility for plots at Ivory Estate Sonde.

Speaking on behalf of URBRA, the CEO Mr. Martin Nsubuga commended MURBS for being a very organized scheme with highly focused Trustees. “Our biggest challenge at the beginning of setting up the Authority was dealing with Trustees who either didn’t know their obligations or over delegated responsibility to service providers.”

Mr. Nsubuga on the other hand commended MURBS Trustees for steering the scheme to continued growth and congratulated Makerere University upon safeguarding the retirement benefits of their employees. He reassured the audience that URBRA had in place a solid legal framework to ensure that the MURBS investment is secure.

Some of the representatives of MURBS Service Providers that attended the FY 2018/19 Preformance Presentation on 11th October 2019, Makerere University, Kampala Uganda

On behalf of IRA, Mr. Chris Kananura said that the Authority is fully committed to developing the Insurance sector in Uganda and commended MURBS for partnering with ICEA to add value to retirement benefits.

“Research has shown that 96% of retirees exhaust their benefits within three years of retirement. Annuity arrangements are therefore an excellent way to prepare you for a comfortable retirement and the IRA has introduced risk-based supervision to ensure that companies fulfill the promises spelled out in their product portfolios” added Mr. Kananura.

The CEO, ICEA Life and gallant alumnus of Makerere University, Mr. Emmanuel Mwaka noted that with more than 4,500 Annuitants, his company is the largest provider of annuity arrangements in the region. He therefore welcomed more MURBS members to take advantage of the services provided so as to mitigate the risks associated with lump sum payments upon retirement.

This position was reiterated by Mr. David Opio Okello, Member, ICEA Life Board of Directors who commended MURBS BoT for the exceptional leadership and tremendous job in growing the Scheme since its inception to the current fund value.

“This partnership with ICEA Life will enable MURBS to meet its objective to deliver retirement security for members both today and tomorrow. I thank the Insurance Regulatory Authority for introducing annuities as an option for members to receive their retirement benefits” added Mr. Opio Okello.

Article by Public Relations Office

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Women in Business Empowered at Makerere

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Prof. Sarah Ssali (Seated 3rd Right) with officials and participants during the Women in Business training on 20th August 2025. Institute of Gender and Development Studies in partnership with the United Nations Development Programme (UNDP), training program focusing on procurement and business development for women in business, 20th August 2025, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.

Makerere University, through the Institute of Gender and Development Studies in partnership with the United Nations Development Programme (UNDP), on 20th August 2025 commenced a training program focusing on procurement and business development for women in business. The two sessions, which brought together women from diverse business sectors, were held at the Yusuf Lule Central Teaching Facility. The training covered critical areas such as business requirements and strategic positioning, access to credit—particularly the Women in Business initiative by Stanbic Bank—and navigating procurement processes in the public service, among other vital aspects.

In his remarks, Mr. Paul Agaba, Director of the Procurement and Disposal Unit (PDU) at Makerere University, outlined relevant laws and shed light on reservation schemes for women-owned businesses. He detailed the requirements for companies to participate in procurement reserved for women, the necessary qualifying documents, and the benefits associated with such schemes. Mr. Agaba referred to the Public Procurement and Disposal of Public Assets (PPDA) Act of 2003, a law aimed at regulating procurement processes while enhancing service delivery and ensuring value for money. He noted that the Act has undergone several amendments to address emerging issues and reinforce principles of fairness and inclusivity, including measures to integrate previously marginalized groups—women, youth, and persons with disabilities—into business opportunities.

He further emphasized that reservation schemes are designed to provide incentives for women-owned businesses. To qualify, a business must be registered with the appropriate authorities, with at least 51% of its shares owned by one or more Ugandan women. On specific requirements, he highlighted the need for registration with the Uganda Registration Services Bureau (URSB), annual registration with the PPDA to be listed among providers, and documentation proving 51% female shareholding. However, Mr. Agaba noted that more effort is needed to actualize some provisions, such as ensuring that 15% of every procurement plan in public institutions and all procurements below UGX 30 million are reserved for women.

Representing UNDP, Ms. Beatrice Nabagya Mugambe, whose organization funded the training, underscored the importance of the program, describing it as a response to critical gaps identified through organizational assessments and surveys. She observed that despite ongoing efforts in gender-responsive procurement, women’s participation in procurement processes remains limited—a challenge not unique to Makerere but also evident across other agencies. She pointed to barriers such as lack of capital, insufficient information about bid opportunities and procedures, perceptions that bid amounts are beyond their reach, and limited business networks that could otherwise facilitate collective bidding. She stressed that such limitations can be overcome through collective action.

Addressing the topic of access to credit, Mr. Joel Mukasa, Relationship Manager at Stanbic Bank, highlighted opportunities available to women-owned businesses through the bank. Drawing from over seven years of experience, he noted that women tend to be better business managers, with 90% of loans disbursed to women being repaid, compared to less than 50% among men, attributing the gap to men often diverting business funds for personal use. Mr. Mukasa explained that Stanbic Bank has established several initiatives tailored for women, including the ‘Grow Project’ in partnership with the Private Sector Foundation Uganda (PSFU) and the government, and the ‘Stanbic for Her’ program. He clarified that the ‘Grow Project’ does not provide free money but rather credit facilities designed for active women entrepreneurs. To qualify, businesses must be registered as sole proprietorships headed by women, companies with at least 51% female shareholding, partnerships led by women, or formal/informal savings groups composed entirely of women. Applicants are also required to have an operational account with Stanbic Bank for at least six months, which eases qualification without the need for audited books.

Prof. Sarah Ssali, Head of the Institute of Gender and Development Studies, reaffirmed Makerere University’s commitment to gender equity and justice as central pillars of its operations. She noted that Makerere is the first public institution globally to apply for the UNDP’s Gender Equality Seal, with the process beginning in 2022. As part of this commitment, the university is evaluated on gender parity in student enrollment. Since 1991, initiatives such as the 1.5 scheme, the establishment of a gender institute, and other affirmative action programs, including those addressing disability and inclusion, have been implemented to promote gender balance among students.

She added that as a gender-responsive employer, the university emphasizes women’s representation in its workforce, particularly in leadership and staffing. Makerere has a comprehensive Gender Equality Policy and Framework supported by affirmative action, which has significantly increased women’s representation in both employment and leadership roles. However, Prof. Ssali acknowledged that challenges persist in the area of procurement. Bound by the PPDA Act, the university cannot impose gender quotas since bidding is based on merit and fair competition. Low participation of women in bids is often due to their operation at a micro-level, lack of familiarity with the PPDA Act, and insufficient capital to handle large contracts.

To address these challenges, Prof. Ssali said Makerere is exploring lawful strategies to promote gender parity in procurement. The main focus is to strengthen women-owned businesses so they can compete effectively for large contracts, while also supporting small and medium women entrepreneurs as they scale up. She explained that the current workshop was deliberately designed for women in business, with participation restricted to women-owned companies. Its primary goal was to build competitiveness by equipping participants with knowledge of pre-qualification, bid submission, assessment, appraisal, and selection processes—ensuring women-owned businesses are fully integrated into Makerere’s procurement activities as part of the university’s broader gender inclusivity agenda.

Ms. Sara Nakibuuka, a practicing procurement professional at Makerere University, stressed the importance of such initiatives in supporting women entrepreneurs. She encouraged women to take full advantage of provisions under the existing Acts of Parliament to expand their business opportunities and strengthen their market presence.

The Women in Business Training 2025 was moderated by Donna Keirungi, a member of the Makerere University Gender Equality Seal implementation team.

Eve Nakyanzi
Eve Nakyanzi

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E-Mobility Skilling Programme: Cohort 2 Applications Now Open!

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E-Mobility Skilling Programme: Cohort 2, in partnership with Kiira Motors Corporation and UNDP Uganda launched! Apply by September 1, 2025. Makerere University, Kampala Uganda, East Africa.

The Makerere University Innovation Pod is thrilled to announce the launch of the E-Mobility Skilling Programme: Cohort 2, in partnership with Kiira Motors Corporation and UNDP Uganda! This immersive one-year program offers exceptional Bachelor of Science and related discipline students (2nd-3rd year) the opportunity to gain cutting-edge skills in electric vehicle technology.

We are seeking motivated individuals from Physics, various Engineering fields, Industrial Art, Architecture, and Business (Marketing) with a strong academic record. Participants will engage in hands-on training, industrial immersion at Kiira Motors, and contribute to the development of the “Moonshot Project.”

Apply by September 1, 2025, to be part of this transformative skilling initiative. Female students are strongly encouraged to apply.

Learn more and apply here: https://forms.gle/jntp2TrzYqJ4TrKv9

Mak Editor

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Bid Notice: Refugee Law Project Mid-Term Review

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An aerial view of Left to Right: Mitchell Hall, Senate, CoCIS Blocks B and A, Lincoln Flats, Frank Kalimuzo Central Teaching Facility and School of Social Sciences (white) Buildings, Makerere University, with Kampala City in the background, October 2018. Uganda.

DETAILED BID NOTICE UNDER OPEN BIDDING

Invitation to bid for Consultancy Services for Midterm Review of The Embassy of The Kingdom of Netherlands Funded Project; Securing Refugee-Host Relations Through Enhanced Protection, under Refugee Law Project, School of Law, Makerere University.
Proc. Ref. No. MAK/SRVCS/2025-26/00013

  1. The Makerere University under Refugee Law Project has allocated funds to be used for the acquisition of Consultancy Services for Midterm Review of The Embassy of The Kingdom of Netherlands Funded Project; Securing Refugee-Host Relations Through Enhanced Protection, under Refugee Law Project, School of Law, Makerere University.
  2. The Entity invites sealed bids from eligible bidders for the provision of the above consultancy services.
  3. Bidding will be conducted in accordance with the open domestic bidding procedures contained in the Public Procurement and Disposal of Public Assets Act, 2003, and is open to all bidders.
  4. Interested eligible bidders may obtain further information and inspect the bidding documents at the address given below at 8(a) from 8:00am to 5:00pm.
  5. The Bidding Documents in English may be purchased by interested bidders on the submission of a written application to the address at 2 above and upon payment of a non-refundable fee of UGX. 100,000/= (One Hundred Thousand), only. The method of payment shall be cash payment after downloading Application Advice Slip from https://payments.mak.ac.ug/ and thereafter obtain a receipt from the bank before picking the document.
  6. Proposals must be delivered to the address below at 8(c) at or before 10:00am on Wednesday 20th August 2025. All proposals must be accompanied by a proposal securing declaration which must be valid until 28th February 2026. Late proposals shall be rejected. Proposals will be opened in the presence of the consultants’ representatives who choose to attend at the address below at 8(a) at 10:15am on 20th August 2025.

See below for detailed bid notice.

Mak Editor

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