1. In June 2005, the Government divested 60 percent of its shares in NIC. These shares were acquired by Industrial and General Insurance Company Limited of Nigeria.
2. Following the divestiture, Makerere University staff through MUASA demanded to withdraw their savings from NIC, which was managing Makerere’s pension scheme.
3. Neither Makerere nor NIC knew the amount held by NIC on behalf of the University staff.
4. Government requested the Auditor General to conduct an independent assessment to ascertain the amount held by NIC on behalf of Makerere University staff.
5. Meanwhile, NIC paid to Makerere the sum of UGX10 billion which was agreed on in the interim at a meeting of the parties chaired by H.E. President Museveni.
6. Acting on behalf of the Auditor General, PWC submitted a report which advised that as at August 31, 2010, the fair value of the Fund was estimated at UGX 26.88 billion. The report was based on an actuarial valuation of the Fund.
7. NIC insisted that they owed only UGX 10 billion and paid that amount to the Makerere University Retirement Benefits Scheme (MURBS).
8. Government paid the balance of UGX 16.8 billion to MURBS and directed MURBS and Makerere to sue NIC to recover the money.
9. MURBS jointly with Makerere University sued NIC for recovery of the balance of UGX 16.9 billion, which Government had paid to MURBS.
10. NIC vehemently opposed liability for Ugx 26.88 billion based on the PWC report. NIC contended that the value of the Fund was in terms of the Deed, solely to be determined by actuaries appointed by NIC; and that NIC could not be bound by the PWC report because it never appointed PWC to conduct an actuarial valuation of the Fund. NIC presented to court another actuarial report showing that the estimated value of the Fund was Ugx 16.88 billion.
11. NIC contested the figure of Ugx 26.88 billion and only acknowledged liability to the extent of Ugx 16.88 billion of which NIC had already paid UGX 10 billion, leaving a balance of UGX 6.88 billion and Makerere University did not even have evidence to the contrary. A judgment on admission in respect of the amount (UGX 6.88) was entered against NIC.
12. When MURBS AND Mak sued NIC, there was no guarantee that court would award the full amount claimed by MURBS and the University in the suit. The University’s claim was not watertight since the University was also in breach of the terms of the Deed by inter alia failing to remit the sums due to NIC on time. NIC relied on the said breach and filed a counter claim against the University and MURBS seeking relief on the said ground. The University was also unable to trace the Master Statement and Schedule upon which inter alia, the claim was founded.
13. In 2018 NIC proposed an out-of-court settlement and offered a property on Kampala Road valued at UGX 8.9 billion.
14. MURBS, represented by their lawyers and Mak, represented by our external lawyers, (Kateera and Kagumire Advocates), the University Secretary and the Directorate of Legal Affairs negotiated with NIC and, a consent judgment in that sum of UGX 8.9 billion was made. Needless to say, the VC and other members of Management provided support during the negotiations.
15. The compromise arrived at under the Consent Judgment was the most prudent outcome in the circumstances since the value of the acquired property (UGX 8.9 billion) was higher than the judgement on admission (UGX 6.88 billion).
16. It should be noted that the recipient of the money from Government and hence the primary party in the suit was MURBS, an independent body corporate supervised by the Uganda Retirement Benefits Regulatory Authority (URBRA) and not Makerere University and any claim of the University Management causing a financial loss to Government does not arise.
17. The allegations being peddled in some blogs and tabloids that some members of Management caused a financial loss to the Government by signing the consent judgment is unfounded as the amount recovered is as a result of a court ruling. Moreover, Mak was not the primary party in the suit against NIC.
18. Claims that some members of Management were forced to sign the consent judgment are baseless. In any case the judgment would still be valid even if Makerere had not signed, since we were not the primary party in the suit.
19. Any aggrieved party on this matter is free to apply for a judicial review.
20. It is worth noting that, recently it has become a habit by some scrupulous elements within our community, to sustain ferocious campaigns conducted through the social media and tabloids aimed at damaging the image and reputation of the University.
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.
Prof. Barnabas Nawangwe giving his remark during the meeting.
“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.
Mr. Mumba Kalifungwa addressing the meeting.
“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.
From the Left: Mr Awel Uwihanganye, Ms Hawa Kajumba and Ms Caroline Kainomugisha.
“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
Prof. Barnabas Nawangwe gifting, Mr. Mumba Kalifungwa the University Centennial Coffee table booklet.
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
The Academic Registrar, Makerere University informs all intending applicants for Private and Government Sponsorship for the 2026/2027 Academic Year that the deadline has been extended from 27th February, 2026 to Friday 13th March, 2026.
Applicants who have already applied need not apply.
For any additional information, refer to Announcements and requirements for Diploma/Degree holders Entry Scheme for Undergraduate programmes for 2026/2027 Academic Year, click the links below.
The Academic Registrar, Makerere University invites applications from Ugandan, East African and international applicants for the undergraduate programmes under the private sponsorship scheme for the 2026/2027 Academic Year.
Each applicant should:
EITHER
Hold at least a Second Class/Credit (or equivalent classification) Diploma or otherwise as specified in the Diploma Holders’ requirements from a recognised chartered institution, relevant to the programme applied for. Certified copies of academic transcripts and certificates (not photocopies of certified copies) from the awarding institutions and one passport size photograph must be submitted to Office 315 level three (3) Senate Building after applying online.
OR
Be a Graduate from a RECOGNISED CHARTERED UNIVERSITY. Certified copies of academic transcripts and certificates (not photocopies of certified copies) from the awarding Institutions and one Passport size photography MUST be submitted to Office 315, Level three (3) Senate Building after applying online.
N.B. Applicants will be responsible for verification of their academic documents from the awarding Institutions after admission.
Other relevant information can be obtained from UNDERGRADUATE ADMISSIONS OFFICE, LEVEL 3, SENATE BUILDING OR CAN BE found on the University Website.
Diploma Holder applicants who hold class three (3) diploma certificates or Pass Diplomas are not eligible for admission and therefore should not apply, except where stated in the Diploma Holders requirements.
HOW TO APPLY
Applications shall be submitted online using the ACMIS system for all applicants. Diploma/degree holders and internationals will have to submit certified copies of their transcripts and certificates and a passport size photograph to Office 315, Level 3, Senate Building after submitting the application online and payment of application fees.
OTHER RELEVANT INFORMATION CAN BE OBTAINED FROM UNDERGRADUATE ADMISSIONS OFFICE, LEVEL 3, SENATE BUILDING, MAKERERE UNIVERSITY WITH EFFECT FROM 5th JANUARY, 2026.
A NON-REFUNDABLE APPLICATION FEE OF SHS.55,000/= FOR UGANDAN AND EAST AFRICAN APPLICANTS OR $76.5 OR EQUIVALENT FOR INTERNATIONALS, (UGX.286,250=) PLUS BANK CHARGEs SHOULD BE PAID IN ANY OF THE BANKS USED BY UGANDA REVENUE AUTHORITY (URA)
CANDIDATES WHO HOLD GRADES X, Y, Z, 7 AND 9 OF ‘O’LEVEL RESULTS SHOULD NOT APPLY BECAUSE THEY ARE NOT ELIGIBLE FOR ADMISSION.
Signup using full name, e-mail and Mobile Number. Please note that your name must be similar to the one on your supporting academic documents for your application to be considered valid. If you changed your names please go to Senate Building Office 611 with a deed poll and gazette supporting the name change.
A password will be sent to both your e-mail and mobile number.
The system will prompt you to change the password to the one you can easily remember.
To fill a form (all form sections must be filled)the applicant clicks on the APPLY NOW button displayed on the running scheme.
Obtain a pay reference nunber(PRN) after submitting the application.
Make a payment at any of the banks used by Uganda Revenue Authority.
MOBILE MONEY PAYMENT STEPS:
1. Dial *272*6# on MTN or Airtel
2. Select option 3-Admission
3. Select option 3 Pay Fees
4. Enter reference number obtained from Application portal
5. Details of Application form will be confirmed
6. Enter PIN to confirm payment
The closing date for receiving applications was extended to Friday 13th March, 2026.