The Vice Chancellor-Prof. Barnabas Nawangwe (2nd R), Stanbic Bank CEO-Ms. Anne Juuko (R), Ag. DVCFA, Dr. Josephine Nabukenya (3rd R) and other members of Central Management listen to DVCAA-Dr. Umar Kakumba (4th L) during the meeting on 12th April 2021, CTF1, Makerere University.
As Makerere University gears up for celebrations to mark 100 years of existence in the second half of 2022, a team from Stanbic Bank Uganda (SBU) led by Chief Executive Officer (CEO) Ms. Anne Juuko on Monday 12th April, 2021 held discussions with a special session of Central Management on how to deepen collaboration. Chaired by the Vice Chancellor, Prof. Barnabas Nawangwe, the session specifically provided a platform for Stanbic to showcase the non-banking services that Makerere can take advantage of in the quest to become a research-led university.
The special session was prompted by a prior engagements between the Acting (Ag.) Deputy Vice Chancellor (Finance and Administration)-DVCFA, Dr. Josephine Nabukenya and Ms. Juuko, wherein the latter expressed SBU’s interest in partnering with Makerere to deliver her ten year strategic objectives. The Vision for the ten year (2020-2030) strategic plan is “a thought leader of knowledge generation for societal transformation and development”.
“Makerere University’s first strategic goal to translate into a research-led university requires a lot of thinking through on how the different services can be rehabilitated into frameworks that support our vision” remarked Dr. Nabukenya.
The Ag. DVCFA was speaking in reference to the research and innovations ecosystem that needs to be created to ensure that Makerere’s research will over the next 10 years have demonstrable economic, environmental, health and social impacts.
The Vice Chancellor thanked the Ag. DVCFA for initiating the discussions with SBU, noting that this was timely and would help take advantage of the huge potential that the University has to offer. “Thanks to funding from the Government of Uganda through the Makerere UniversityResearch and Innovations Fund (Mak-RIF) we now have hundreds of innovations produced by the various research teams.”
“Our biggest problem at present is the lack of funds to commercialise these innovations. Uganda has no venture capitalists but I believe that with the resources that you (SBU) have, we can work together to help support these innovators” remarked Prof. Nawangwe.
Prior to making her presentation the CEO thanked Makerere University for the supporting SBU’s business thus far, as well as the ensuring that the two partners enjoy a quality relationship with each successive Management team. “We take extra pride when it comes to working with Makerere University,” she added.
Ms. Juuko said the reorganisation of SBU in 2018 to include a holding company (Stanbic Holdings Uganda Limited-SHUL) had enabled the entity to enhance the value of products and services offered to its customers. In addition to SBU, other SHUL subsidiaries; Stanbic Properties Uganda Limited, Stanbic Business Incubator Limited, FlyHub and SBG Securities. These, she noted, enable Stanbic to offer a broader range of services to staff and students beyond banking.
Reflecting on the signing of the Final Investment Decision (FID) on 11th April 2021, the CEO shared that SBU in line with its support for responsible investment through assessing and managing environmental, social and governance risks would take keen interest in oil production. “One of the hottest topics is that oil mining is going to take place in one of the most ecologically sensitive zones. How can we partner with Makerere to ensure that this is conducted in a sustainable way?” she pondered.
The CEO also brought to the attention of Central Management that SBU had in 2020 partnered with the United Nations Development Programme (UNDP) to launch the Youth4Business Innovation and Entrepreneurial Facility as an answer to youth unemployment. As a way forward, she added that Makerere would be brought on board to form a three-way conversation on how best to achieve the facility’s objectives, especially following disruptions to micro, small and medium enterprises (MSMEs) operations caused by COVID-19.
Other topics covered by the SBU presentation included; supporting the Makerere University Staff SACCO to grow their funds, Financial Fitness sessions for staff on how best to invest and grow their earnings, and a laptop loan scheme for staff and students where payments can be made over a period of two to three years. Also shared was how SBU is using data to reduce loan approval for customers to 120seconds as well as introducing alternative systems for making payments and receiving collections such as point of sale devices and virtual wallets tagged to customer phone numbers.
In some of the reactions that followed, the Deputy Vice Chancellor (Academic Affairs)-DVCAA Dr. Umar Kakumba thanked SBU for reaching out to Makerere and advocated for increased internship placements for students in the SHUL subsidiaries. He also called for collaboration at the training level.
“The staff at the College of Business and Management Sciences (CoBAMS) have in the past conducted financial literacy training for various organisations and are ready to partner with Stanbic as they reach out to various communities in their educational programmes,” added Dr. Kakumba.
Delivering the concluding remarks, the Vice Chancellor thanked the Ag. DVCFA for initiating discussions with SBU as well as the CEO and her team for sparing time to meet with Central Management. “Together, Makerere as the premier and largest University and Stanbic as the largest bank operating in Uganda can do a lot to transform this country.”
The parties agreed to formalise the collaboration by signing Memorandum of Understanding at a later date.
Makerere University has noted the serious concerns raised publicly through social media video posts regarding the conduct of a member of staff. We recognise that such matters can cause profound distress and that it takes courage to speak about experiences of harm. The University takes all matters relating to the safety, dignity, and welfare of its students, staff, and visitors with the utmost seriousness.
Makerere maintains a zero-tolerance policy toward sexual harassment, gender-based violence, and any form of misconduct that threatens the well-being of members of the University community. Formal reports of sexual harassment are handled through established procedures with the seriousness they deserve.
The University has deliberately put clear policies and procedures in place, including the Safeguarding Policy, the Policy and Regulations Against Sexual Harassment, and staff disciplinary processes. These are designed to ensure that any formal complaints received are investigated thoroughly, fairly, and confidentially, while upholding the principles of natural justice and due process for all parties.
Students, staff, and visitors who have concerns are encouraged to make a formal report through the available channels, including the Gender Mainstreaming Directorate, the Office of the Dean of Students, or MakSafeSpace (the University’s online platform that facilitates anonymous and confidential reporting). Professional support services remain available at the University Counselling and Guidance Centre for those who need them.
Makerere University remains committed to fostering a safe, respectful, and inclusive learning and working environment for all. We will continue to strengthen our systems for prevention, reporting, and accountability.
Dr. James Magara, a futurist and Chairman of Yobel Biashara Initiative stood before an audience at Makerere University on September 30, 2026, and projected a map of the world. It was upside down.
He asked the room if anything was wrong, and as the audience hesitated, he revealed that “in 1569, the Flemish cartographer and geographer whose name was Gerardus Mercator, developed a map now known as the Mercator projection. It represented the curved shape of the Earth on a flat map.” He simplified it saying, the Mercator map accurately shows direction and local shape, but it distorts the size of places, especially those that are located near the poles. He pointed out that the map distorts the size of continents, making Greenland appear as large as Africa, when in reality, Africa is 14 times larger.
Fixing the map was easy and free, it took one vote, Dr Magara said, referencing the recent United Nations resolution that encouraged accurate area projections. Indeed fixing the map was easy but the actual material weight of this continent and its institutions that run within the world economy is why dialogues like this exist. “Until we (Africa) fund our own institutions ourselves, the continental agenda will keep belonging to whoever writes the check.”
This and more were part of Dr. Magara’s opening remarks while delivering a keynote at the YOBEL Biashara Conference 2026 hosted at Makerere University School of Public Health Auditorium.
Ms. Doreen Katangaza shakes hands with Dr. James Magara after his keynote address.
The event, was co-hosted by the CASTLE Think Tank, YOBEL Biashara, and Makerere University under the theme: “Africa’s Agency in an Era of Geopolitical Change: Trade, Investment and Economic Transformation,” brought together a diverse assembly of policymakers, academics, and private sector leaders.
Representing Dr. Adam Mugume the Chief Guest who could not make it due to unavoidable circumstances, Ms. Doreen Katangaza, a researcher and economist at the Bank of Uganda (BoU) delivered his remarks while reflecting on Dr. Magara’s keynote.
She explained “what agency means in economic policy, is not isolation, it’s not withdrawal, but the capacity to choose, to negotiate, and to act.”
She emphasized that relying on external factors or rhetoric is insufficient for long-term transformation. Instead, she suggests that agency is defined by internal strength and the ability to act independently. As she states, “Africa’s agency will not only be secured by rhetoric. It will be built through capabilities. The capability to produce, the capability to finance development, capability to manage shocks and above all, capability to make choices based on our own long-term interests and people’s priorities.”
University Secretary-Mr. Yusuf Kiranda (L) and other attendees interact with Dr. James Magara at the Conference.
Ultimately, Ms. Katangaza aligned with all speakers mobilising for a holistic approach involving government, the private sector, and academia to build these foundations. She noted that the Bank of Uganda is committed to harmonising policies and payment systems to support this, but success depends on whether these ideas translate into tangible outcomes, such as stronger institutions and resilient economies, when stakeholders reconvene in the future.
She concluded by congratulating the YOBEL Biashara Initiative, CASTLE Think Tank, and Makerere University for organizing the forum “a platform for thoughtful discussion about Africa’s economic future.” She thanked all the speakers, all panelists, and participants for their valuable contribution and attention during her communication and entire event.
Cost of Institutional Dependence to the Continent
Dr. Magara’s address was his critique of the continent’s institutional funding. He pointed out that member states currently fund only 24% of the African Union’s own program budget. Charity begins at home, he stated. With 76% out of every dollar the African Union spends coming from partners outside the continent. He argued that this dependency is self-inflicted and fixable.
He advised that if we genuinely want a technology-creating continent, the work has to start in the primary school classroom, not in the university innovation hub. He added, while also highlighting that Africa’s research and development spending sits at 0.4 percent of GDP, far below the world average.
Dr. James Magara.
Dr. Magara also addressed the implementation gap that has affected the continent for decades. He suggested that the failure to execute on well-crafted strategies is not just a capacity problem, but a result of selfish interests within. Some people are benefiting from the way things are, he explained. So, if they change, they will lose the benefit.
As a futurist and leadership strategist, Dr. Magara used his keynote address to also dismantle some of the comfortable narratives often repeated in policy circles. He challenged the audience to reconsider the concept of agency, arguing that choice only becomes agency when backed by the capacity to act. He pushed back against the common narrative that Africa’s youth population is automatically a demographic dividend.
A youth bulge without a falling birth rate, without matching job creation is not a dividend, he warned. It is a dependency burden wearing dividends lobbying.
Dr. Magara said, “if you ask any panel anywhere on this continent why Africa has not industrialised, you will get the same three answers almost every single time. Not enough skills, not enough infrastructure, not enough finance. And all of this is true. All of it is real. None of it should be dismissed.” But none of those three answers explains a much stranger fact sitting right in front of us, “why have we been writing almost identical strategy documents, making almost identical recommendations for 30 years plus.”
Dr. James Magara presents his keynote address.
He urged the room to be honest about the reality of the labor market, noting that every year, between 10 and 12 million Africans enter the labor market, while economies create roughly three million formal jobs. That gap cannot close itself, he stated. And it does not close by wishing it away in a policy document.
Engagement with Dr. Magara’s Keynote
The keynote featured significant engagement, primarily from Professor Pamela Mbabazi, Ms. Allen-Sophia Asiimwe, and Dr. Fred NK Muhumuza, who offered diverse perspectives that somewhat aligned with, and at certain points challenged his arguments.
Professor Pamela Mbabazi, Executive Chairperson of the National Planning Authority (NPA), offered a government perspective on the issues raised. She acknowledged the disconnect between some policy and deep thinking. Siding with Dr. Magara, there is a visible rush into making decisions without having deep thinking and engaging with amazing think tanks like YOBEL, CASTLE, she admitted.
Prof. Pamela Mbabazi.
She called for a more intentional approach to policymaking, urging think tanks to collaborate more closely with government bodies like the NPA. She explained that countries like China did not get to where they are by accident, they were intentional to include their think tanks into policy making and no decisions were made haphazardly.
Professor Mbabazi suggested that as a country and continent we can have our think tanks drive policy if we want to build a five-hundred-billion-dollar economy by 2040.
She concluded her submission joining Dr Magara in questioning whether Africa could credibly speak of strategic agency when the institutions through which agency is exercised remain substantially dependent on financing from elsewhere.
Allen Sophia Asiimwe the Deputy CEO/Chief of Programme at trademark Africa addressed the conference via zoom, and expressed she was happy “when Dr. Magara started off with a question on the size of Africa on the map and in reality, it matters.”
Ms. Allen Sophia Asiimwe contributes virtually.
However, she challenged some of his assertions on financing. She requested to push back on this very strongly saying “If you look at how Africa is made up, a lot of our countries are still very poor,” arguing that the continent’s economic reality as of now requires external support.
With that said, she shifted the focus from external funding to internal inefficiencies, agreeing that Africa is sabotaging its own growth through non-tariff barriers, noting, “we are self-sabotaging. If we opened up for trade, if we allowed goods to cross the borders, we may actually make a big difference,” Ms. Asiimwe discussed.
Dr. Fred Muhumuza a prominent Ugandan development economist, senior lecturer, and policy advisor also engaged with the views on economic planning and indicators.
He agreed that think tanks are an issue, and that they must be embraced for the better. We must think about our problems, talk about them, and see what sense we make to ourselves.
Dr. Fred Muhumuza.
Dr. Muhumuza questioned the premise that the source of financing is the primary issue, suggesting that the quality of the plan being financed is more critical.
Major General Gregory Mugisha Muntuyera, added his voice to Dr Magara’s arguing that beyond map size, Africa’s development is hindered not by a lack of potential, but by a mindset of dependency. Drawing a contrast to the conditioning of elephants in India mastered by small humans.
The General stated, “we have got the knowledge, we have got the qualifications, but we have been conditioned.”
He emphasized that true progress requires discipline for ” without this nothing is going to happen” regardless of how many conferences are held.
The Cost of a Broken System
Ms. Eseza Mulyagonja, a member of the YOBEL Biashara board, as one of the opening speakers, issued a strong reminder of the urgency required in addressing the continent’s challenges.
Ms. Mulyagonja shared a story so dear to her, of a young boy in a village who died after being bitten by a snake because he was not in school, for his fees were unpaid. She used this to illustrate the human cost of broken systems and advised that we do not have to wait for calamity to strike, since this is a story that is so common.
Ms. Eseza Mulyagonja.
She said as a continent, we have got to confront these things saying if we do not bring these stories close to home, we will not be propelled to change the direction for the better.
MAKERERE-CASTLE-YOBEL A PARTNERSHIP FOR AFRICA’S TRANSFORMATION
Representing Professor Sarah Ssali, the First Deputy Vice Chancellor in charge of Academic Affairs, Professor Edward Bbaale the Principal College of Business and Management Sciences, emphasised the institution’s commitment to being an active partner in national and continental transformation acknowledging the global economic order is undergoing profound change, characterised by geopolitical realignment and an accelerating energy transition.
Prof. Edward Bbaale.
“These questions cannot be settled in just one conference. These are conversations that we’re going to have to continue even after here. So once again, I thank our chief guest, our keynote speaker, our discussants, our partners, the organizers, and every one of you who have made this time a meaningful time spent and made meaningful contributions to Africa’s future.
“The important question, therefore, is not simply how Africa will be affected by these changes, but how Africa will shape them”, Professor Bbaale remarked.
Crowning the remarks from the host institution, Makere University Chairperson of Council Dr. Lorna Magara appreciated everyone that was present for this noble conversation.
She said, “I trust that each of us leaves today with at least one idea that we are going to execute for the good of our continent.”
Dr. Lorna Magara shares a light moment with other dignitaries during the Conference.
She proposed that the first item on the agenda of the YOBEL Biashara 2027 conference should be looking at the scorecard of what has been done to see that Africa increasingly moves from being a passive recipient of global economic decisions to becoming an active participant in shaping the rules, institutions, and partnerships that determine its development direction.
Makerere University confirms with deep sadness the death of Kabuye Kelvin Charles, a second-year student pursuing a Bachelor’s degree in Architecture at the College of Engineering, Design, Art and Technology (CEDAT).
On the early morning of 28th September 2026, the body of the deceased was discovered on campus inside the fence that houses the MTN mast opposite the University Library. University security promptly reported the matter to Makerere Police Station. Police officers responded immediately and have handed over the investigation to the Wandegeya Homicide Desk and Scene of Crime Officers.
The cause of death is not known at this time; however, a post-mortem examination has been requested, and investigations remain ongoing. The University is fully cooperating with the Uganda Police Force.
The University Management extends its heartfelt condolences to the family, friends, and classmates of the late Kabuye Kelvin. We share in this profound loss and pain.
Members of the University community who may be affected by this incident are encouraged to seek assistance. Counselling and psychosocial support services are available to all students and staff through the University Counselling and Guidance Centre. Makerere University remains committed to the safety and well-being of its students and staff.
We will provide further updates as official information becomes available from the investigating authorities.