Business & Management
Academicians Retooled on the System of Environmental-Economic Accounting (SEEA)
By Jane Anyango
Over 30 members of the academia comprising staff and graduate students from Makerere University School of Economics, Muni University and Makerere University Business School on 28th September, 2021 converged for a training on the System of Environmental-Economic Accounting (SEEA).
The blended seminar held physically and virtually was organized by the Environment for Development Initiative (EfD-Mak) Centre facilitated by the Makerere University don, who is also Research Fellow at the EfD-Mak center and Fulbright Scholar Dr. Nickolas Kilimani.
Dr. Kilimani streamed live from the USA on the System of Environmental-Economic Accounting focusing on the Integrated Water Resources Management, Policy Analysis and Decision making.
Dr. Kilimani highlighted the recent developments in Environmental-Economic Accounting in Uganda, the System of Environmental-Economic Accounting and its objectives, Water resources accounting modules and the role of Water Accounting in Integrated Water Resources Management (IWRM).
Dr. Kilimani observed that the national economic policy has been underpinned by macroeconomic theory and the necessary statistics are collected and arranged using the System of National Accounts (SNA) which covers all economic activity from production to consumption and accumulation, and all industries using the Gross Domestic Product (GDP) as the key indicator.
He noted that the basic theoretical foundation of the SNA has not changed since 1953 even with the detail that has evolved with technological, economic and social change adding that, for more than 70 years, governments and business have used the information from the SNA as an information source in economic analysis and policy.
“The SNA does not adequately account for the environment and yet economic activity can adversely drive both observed and unobserved changes in it. The System of Environmental-Economic Accounting (SEEA) aims to address the deficiency of the traditional national accounting (the SNA) by accounting for the environment and linking it to environmental information through common concepts, definitions and classifications” Dr. Kilimani stated.
Compared to the SNA, Kilimani said, the SEEA is not yet widely used in decision making, partly because, it has recently been adopted as an international standard.
Dr. Kilimani said the objectives of SEEA are to develop a consistent data system for economic and environmental data and provide a common system to derive indicators and measure sustainable development.
He explained that the SEEA provides a better measure of national wealth to include not only produced capital but also natural capital, and assesses availability of natural resources, their use in production and final consumption and the cost of depletion. In addition Kilimani said, SEEA assess the level and cost of emissions and other waste from production and consumption and identifies monetary flows related to the environment which are already within the SNA (e.g., expenditures on environmental protection, environmental taxes and subsidies,etc.)
Dr. Kilimani underscored the role of Water Accounting in Integrated Water Resource Management (IWRM) noting that the growing pressure on water resources and high uncertainty on future water availability have caused the urgent need for better planning and management.
He emphasized that water is not only essential to cover basic needs for humans and the environment that underpins them, it is also a key factor for the economic development of diverse sectors with conflicting interests as regard to its use.
“The IWRM paradigm is considered a good approach to deal with those complexities. It proposes a coordinated utilization of water and land resources to support economic and social development without compromising environmental sustainability.
It recognizes that water management is a key aspect since human intervention is the trigger for all trade-offs and conflicts around water. IWRM highlights the influence of catchment management on water resources quantity and quality, as well as the need to preserve the natural capital for future generations.” He added.
Dr. Kilimani said Water management is considered a social, economic, and political issue rather than just technical and therefore, stakeholder involvement in water management is needed and this translates into legal requirements for public participation and transparency in water governance.
“The value of water, the opportunity costs of its allocation, or the costs of making it available should be known and recognized in order to incentivize water use efficiency. The implementation of those legal requirements calls for making information about water publicly available in a clear and accessible way. In this sense, water accounting emerges as a useful tool to promote efficiency and transparency in water resource planning and management”, Kilimani stated.
The current and proposed framework for IWRM in Uganda
Dr. Kilimani said the existing institutional and policy framework shows the multiple institutions charged with the management of water resources in Uganda, but, there is a need for an explicit connection between water sector policies and those of the social-economic sectors, since water resources are a key input into the country’s economic and social sectors.
“The institutional framework in Uganda, provides for a key component such as Water for Production. Institutions in charge of managing the productive sectors of the economy, i.e., MoFPED, (MAAIF), and the MTTI need to link their development plans and policies with those of the water sector. A sound national water policy should relate the different development plans of the social-economic sectors in an explicit manner”. Kilimani said.
In the (2015) paper, Dr. Kilimani and other researchers proposed a framework for policy analysis which relates the development plans for the different social-economic sectors to those of the water sector.
This framework he said is aimed at providing policy analysis of IWRM in a typical economy by linking e.g., agriculture, industry, households, hydro-electricity and navigation which are key sectors that primarily depend on water.
The don explained that development plans in these sectors involve several policy variables and inputs. Therefore, the interaction between the policy variables and their impacts are monitored through multiple indicators in the social-economic and ecological domains.
“Given the multiplicity of variables, the SEEA framework uses aggregated water data as do the existing approaches for analyzing the associated policy impacts.
Computable general equilibrium (CGE) models also use aggregation and hierarchical decomposition in order to simplify model development and data compression to manageable sizes.
While the aggregation hides some of the temporal and spatial variability, it still preserves the fundamental trends that help to provide needed answers by policy-makers”, Kilimani said.
SEEA, a new area of interest to academicians and the Government of Government
The Director EfD-Mak Center Prof. Edward Bbaale described the seminar as the most exciting because it brought on board a new area which is of interest to the Government of Uganda.
Prof. Bbaale said, Uganda Bureau of Statistics, the National Planning Authority and other partners are trying to work on the system of Environmental-Economic Accounting away from the conventional system of National Accounting.
“Our System of National Accounting is deficient in incorporating Environmental aspects because as we produce and consume, then in one way or another, we are depleting the environment which we refer to as natural capital and this natural capital is all the time depreciating but there is no way in our conventional GDP measurements that, but now, this new system is solution to this”, Prof. Bbaale stated.
From the academic perspective, Prof. Bbaale commended the facilitator for showing participants how to undertake the System of Environmental-Economic Accounting and ably bringing participants on board in terms of the key variables that are important in this new system specific to the water sector.
The Director appreciated Dr. Kilimani for exposing participants to the policy, non-policy and the output variables and giving tips on some methods such as the Computable general equilibrium (CGE) which can be utilized to understand the impact of a policy decision on the rest of the economy in terms of the social, economic and environmental outcome.
“The lesson here is that we need to invest our time into understanding this new System of Environmental-Economic Accounting as a way of incorporating new ventures in our research as economists and academicians. And to our graduate students, this is an area worthy of investing their time and I am glad that a number of graduate students attended this seminar”, Prof. Edward Bbaale said.
Prof. Bbaale said, a number of reports are already out and that SEEA is an area which is very virgin, where very limited research has been undertaken partly because of lack of numbers that incorporate the environment into the entire national analysis.
“But now, some strides have been taken, some milestones are being achieved and if our own, Dr. Nickolas Kilimani with a Fulbright Scholar in the US is having all these on his fingertips, it is a huge resource to Makerere University, to our country and it is a starting point of deeper analysis into how the environment is being affected when we are doing our production and consumption activities”, Prof. Bbaale said.
He reported that the seminar was quite intriguing and important for national policy and pledged to arrange to involve policy makers from the Ministry of Water and Environment and the National Water and Sewerage Corporation in the next seminar.
Participants comment on the seminar
Makerere University PhD student from the School of Economics Alex Aliga, who is also a lecturer at Muni University Uganda said the seminar was timely.
“It has enriched many of the things that I had learnt in class and I had taken for granted. The System of Environment and Economic Analysis though new is very important and interesting because once you begin to understand Natural Resource Accounting and integrate it into GDP, then we get to understand the full value of our resources. In that case, it means that we may actually be richer than what we thought we are. Some of these things are not easy to bring to the GDP which is the measure of our national economy.
I got many lessons; – understanding how you can apply the theoretical things into practical and to influence policy is very important for our country. Given the fact that our resources are under attack, climatic change and environmental issues are real, we need this knowledge so as to be able to sustainably use our resources for a better future”, Mr. Aliga said.
Dr. Paul Edabu, a Senior Lecturer at Muni University said:
“The day’s seminar was an eye opener to the current situation in Uganda bearing in mind that we have two blocks of people who are in accounts and economics and there is no integration even in our ministries.
Our country is at a paradox, today people are restricted to cut trees from the forests and also carrying out farming in the wetlands and the next day, a factory is erected in the wetland. This seminar is timely and something I had yearned to learn because it incorporates the environment as a key resource into the national accounting system”, Dr. Edabu commented.
SEEA and the Government of Uganda
Government of Uganda (GoU) is moving towards resource-led industrialization by developing a set of natural capital accounts under the Uganda Natural Capital Accounting (NCA) program. The National Biodiversity Strategy and Action Plan (NBSAP), National Development Plan, and Uganda Green Growth Development Strategy (UGGDS) recognize the challenges of development planning without accounting for its effect on natural resources, many of which are non-renewable.
In cognizance of the above, GoU with her development partner UNEP with its World Conservation Monitoring Centre arm is working with the Darwin Initiative to develop Natural Capital Accounts for Uganda.
The project is aligned with existing initiatives on natural capital accounting, i.e., the Gaborone Declaration for Sustainable Development in Africa, the UN project on Natural Capital Accounting, and the World Bank Wealth Accounting and the Valuation of Ecosystem Services programme.
The Uganda Bureau of Statistics (UBOS) Ministry of Water and Environment, and Ministry of Lands, Housing and Urban Development commenced with the development of land accounts and Water accounts in 2019. Under the NCA program, the country launched the Wood Asset and Forest Resources Accounts.
Natural Capital Accounting effort is based on the international statistical standard, System of Environmental-Economic Accounting (SEEA).
Jane Anyango is the Principal Communication Officer, College of Agricultural and Environmental Sciences (CAES)
Business & Management
Thirty Public Officers Certified in Integrated Regulatory Cost-Benefit Analysis
Thirty public officers from various Ministries, Departments and Agencies (MDAs) have successfully completed a two-week intensive training in Integrated Regulatory Cost-Benefit Analysis (IRCBA), culminating in the award of certificates at a closing ceremony held on 27th February 2026 at the Pearl on the Nile Hotel in Jinja.
The training was jointly organized by the Public Investment Management Centre of Excellence at Makerere University and the Ministry of Finance, Planning and Economic Development (MoFPED), in collaboration with the Infrastructure and Social Services Department (ISSD) and the National Planning Authority (NPA). It focused on operationalizing the Revised Guidelines for the Issuance of Certificates of Financial Implication (CFIs), which came into effect on 1st July 2025.
A Strategic Reform for Fiscal Credibility
In closing remarks delivered on by Commissioner Paul Patrick Mwanja behalf of the Permanent Secretary/Secretary to the Treasury, participants were commended for undertaking the training during a demanding budget cycle, when many MDAs are simultaneously preparing the FY 2026/27 Budget, executing the FY 2025/26 Budget, and implementing the National Development Plan IV and the Tenfold Growth Strategy.
The PS/ST emphasized that the revised Guidelines mark a significant shift toward a more transparent, data-driven, consultative, and analytically rigorous approach to evaluating policy and legislative proposals. Participants were equipped to assess fiscal implications, evaluate economic and socio-economic impacts, analyze distributional effects, and address uncertainty using structured analytical tools.
They were reminded that training alone is not sufficient, the real test lies in consistent application. As members of the third cohort, they were challenged to serve as reform ambassadors, championing evidence-based policymaking and strengthening analytical standards across government.
Bridging Academia and Public Service
Delivering the official closing remarks, the Director of the PIM Centre of Excellence, Prof. Edward Bbaale, commended participants for their active engagement and unwavering commitment throughout the training.
He described the programme as both timely and strategic, designed to equip officers with practical tools to prepare robust Statements of Financial Implication (SFIs) that support credible issuance of CFIs. He noted that strong financial analysis enhances fiscal discipline, policy coherence, and the overall quality of legislation and public policy in Uganda.
Prof. Bbaale underscored the longstanding partnership between Makerere University and the Ministry of Finance, highlighting how it continues to bridge academia and public service by combining analytical rigor with practical policy experience. He emphasized that the collaborative model — bringing together faculty from the College of Business and Management Sciences and practitioners from Government, reflects the core vision of the PIM Centre of Excellence: strengthening national systems through evidence-based policymaking.
During the two weeks, participants gained hands-on experience in applying cost-benefit analysis across four critical dimensions: budgetary analysis, socio-economic analysis, distributive impacts, and risk assessment. Prof. Bbaale encouraged them to return to their institutions as agents of transformation, improving evaluation frameworks, strengthening regulatory decisions, and ensuring that public interventions deliver value for money and long-term development impact.
He also reaffirmed the Centre’s broader mandate beyond training, noting its recent support to the revision of Development Committee Guidelines, assessment of public investment performance since NDP I, and hosting of the Second Public Investment Management Conference in August 2025.”
Building from “Zero Kilometre”
Earlier, the Manager of the PIM Centre of Excellence highlighted the practical approach adopted during the training. Participants began with blank Excel sheets and built analytical models from scratch, likened to the engineering concept of starting at “zero kilometre,” where construction begins from the very starting point and progresses step by step.
The interactive sessions enabled participants from diverse disciplines, including policy analysts, planners and statisticians, to interrogate assumptions, refine costing approaches, and debate implementation and enforcement frameworks. Their sector-specific insights enriched the learning process and strengthened the analytical models developed.
The Manager noted that excellence is not about knowing everything, but about bringing together the right expertise. Facilitators from MoFPED, NPA, the Office of the President, and Makerere University ensured that theory remained grounded in practical government realities.
Participants Applaud Practical and Engaging Sessions
Speaking on behalf of the cohort, a participant described the training as highly engaging and transformative. The combination of theory and practical application, coupled with patient facilitation, allowed officers from varied professional backgrounds to learn from one another.
The participant highlighted the final day’s discussions as the most impactful, expressing confidence that the knowledge gained would enhance policy analysis and improve the quality of programmes and projects across MDAs.
Certificates Awarded
The ceremony concluded with the award of certificates to all 30 participants in recognition of their successful completion of the IRCBA training. The certification marks another milestone in Government’s effort to build a critical mass of experts capable of institutionalizing rigorous financial and economic analysis in public policy processes.
As the workshop was formally declared closed, participants were encouraged to apply their newly acquired skills consistently, mentor colleagues, and contribute to strengthening fiscal governance across Government.
The PIM Centre of Excellence reaffirmed its commitment to continuous research, policy advisory support, and capacity building as Uganda advances toward more credible, transparent, and sustainable public decision-making.
Business & Management
Botswana Delegation Visits Makerere’s Public Investment Management Centre to Study Sustainable Training Model
Business & Management
Celebrating Academic Excellence: CoBAMS Presents 975 Graduands at Mak 76th Graduation Ceremony
26th February 2026– The third day of Makerere University’s 76th Graduation Ceremony, held on 26th February 2026, underscored the University’s central role in shaping economic thought, business leadership, and public policy in Uganda and beyond. On this day, the College of Business and Management Sciences (CoBAMS) together with Makerere University Business School (MUBS) presented their graduands for the conferment of degrees and award of diplomas.
CoBAMS Graduation Statistics
Across the University, a total of 9,295 graduands will be presented during the 76th graduation ceremony (24th to 27th February 2026). The College of Business and Management Sciences presented 975 graduands, comprising 14 Doctor of Philosophy (PhD) degrees, 334 Master’s degrees, 2 Postgraduate Diplomas, and 625 Bachelor’s degrees. This robust academic profile reflects the College’s sustained investment in advanced research, graduate training, and industry-relevant programmes designed to equip graduates with analytical competence, ethical grounding, and leadership capacity required to contribute meaningfully to economic transformation, institutional development, and enterprise growth at national, regional, and global levels.
Prof. Nawangwe emphasized that CoBAMS remains a key pillar in advancing the University’s research agenda. Through strategic partnerships with government ministries, the business community, and the private sector, the College has produced over 60 high-quality research outputs under the CoBAMS Working Paper Series, many of which have been published in internationally recognized peer-reviewed journals. These outputs he said are aligned with the UN Sustainable Development Goals (SDGs), Uganda’s 10-fold National Economic Growth Strategy, and the University’s Strategic Plan, reinforcing CoBAMS’ role in driving evidence-based development.
The Vice Chancellor commended the College for its five dynamic research centres—Entrepreneurship and Innovation; Statistics and Demography; Public Investment Management; the Environment for Development Initiative; and the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling—which collectively form the backbone of the College’s research enterprise. Through these centres, he noted CoBAMS continues to advance high-level scholarship, foster interdisciplinary collaboration, and deepen policy engagement, firmly positioning itself at the forefront of national and regional economic discourse.
In his message to the graduands, Prof. Nawangwe tasked them to become job creators, who are ready to turn challenges into opportunities. He encouraged them to remain proud ambassadors of Makerere University, upholding integrity and excellence, and to utilize their knowledge to transform communities and nations.
“You are all graduating with disciplines that are needed by society. We have equipped you with the knowledge and skills that will make you employable or create your own businesses and employ others. Do not despair. If you cannot find employment, reflect on the immense opportunities around you and raise to the occasion as an entrepreneur,” Prof. Nawangwe stated.
Addressing the congregation, the Guest of Honour, Hon. Janet Kataaha Museveni, First Lady and Minister of Education and Sports commended Makerere University for its pivotal role in transforming lives and shaping Uganda’s future. She congratulated the graduands upon reaching a significant academic milestone and reflected on the broader purpose of higher education in developing both knowledge and character.
She highlighted the success of the Emerging Leaders Programme, launched at Makerere University as a deliberate initiative to cultivate a generation of leaders grounded in values, integrity, and service. Founded on the conviction that higher education must shape both mind and character, the programme equips young people to navigate real-world challenges. She noted that 20 graduates from the inaugural cohort of the Emerging Leaders Programme were being celebrated at the 76th graduation.
“We recognised that our young people face real challenges such as moral decay, violence, addiction, exploitation and sometimes a loss of purpose and direction. The Emerging Leaders Programme was a deliberate commitment to raise a generation of leaders grounded in values, integrity and service to others. Today, 20 graduates represent the early visible fruit of that vision. They have deliberately chosen to build their lives on a foundation of strong moral values and servant leadership,” the Minister said.
The Minister urged graduands to view their achievements not as an end, but as a commissioning. She called upon them to lead with courage, humility, and responsibility, emphasizing that the world needs graduates who embody not just skills and knowledge, but character, integrity, and service. She reminded graduates that as they step into society, they carry the promise of a new Uganda, one where talent, ambition, and knowledge are matched by integrity, purpose, and service,” she exhorted, celebrating the role of higher education in nurturing both excellence and character.
Delivering the commencement address, Dr. Patricia Ojangole, Managing Director of Uganda Development Bank and a proud Makerere University alumnus, lauded the University for equipping graduates with a strong intellectual foundation and the confidence to navigate the complexities of the modern world. She recognized the sacrifices of parents, guardians, and relatives, noting that behind every graduand lies a story of perseverance, encouragement, and unwavering support.
Dr. Ojangole urged the graduands to look beyond traditional employment, highlighting the vast opportunities for entrepreneurship and innovation in today’s digitally connected and globally integrated Uganda. She reminded them that the skills, exposure, and knowledge they possess, position them to create solutions, build enterprises, and drive economic and social transformation.
She emphasized lifelong learning, adaptability, and the cultivation of emotional intelligence and leadership as essential tools for sustained success, noting that the most effective leaders inspire and empower others. Above all, she urged the graduates to guard their integrity, develop strong networks, and remain resilient in the face of setbacks, framing every challenge as an opportunity to strengthen character.
“Learning does not end with this degree. The world of work is constantly evolving—technology advances, markets shift, and customer needs change. Those who stop learning quickly fall behind. Graduates must develop skills in artificial intelligence, data literacy, analytical thinking, forecasting, and strategic planning, while also cultivating emotional intelligence and leadership. These abilities are essential in the 21st-century workplace, where people follow leaders who inspire. Lifelong learning, adaptability, curiosity, and a willingness to embrace change are no longer optional—they are the new currency of corporate and business success,” she submitted.
The Makerere University Chancellor, Dr. Crispus Kiyonga urged graduates to view their time at Makerere not only as an academic journey, but as an opportunity to engage with the world around them. He encouraged them to identify opportunities within their communities and the nation at large, highlighting that while some may secure government or private sector jobs, others will need to create their own paths through entrepreneurship.
“Beyond pursuing your courses, seize the opportunities at the university to broaden your knowledge of the world, your country, and the communities in which you live. Be attentive to the opportunities around you—those you can leverage to engage in meaningful and viable activities that bring prosperity,” the Chancellor advised.
A key highlight of the day was the conferment of the Doctor of Letters (Honoris Causa), of Makerere University upon Dr. Japheth Buleetwa Katto, recognizing him as an Honorary Scholar of Makerere University. A distinguished professional with remarkable achievements, Dr. Katto has made significant contributions to Uganda, the East African region, and beyond, particularly in advancing the accountancy discipline and strengthening the capital markets industry. His work has played a transformative role in Uganda’s social and economic development while also influencing the accountancy profession on a global scale.
Accepting the Honorary Doctorate Doctorate, Mr. Japheth Buleetwa Katto expressed deep gratitude to Makerere University and those who supported his journey. Reflecting on fifty years in corporate governance and finance, he emphasized a key lesson: integrity, diligence, and ethical leadership are always noticed, and the rewards of sowing excellence will inevitably follow, even if it takes decades.
“This recognition comes as a surprise and brings with it an important lesson, I wish to share with everyone here: people are always watching. They notice when you choose integrity over shortcuts, when you champion good governance even when it is unpopular. They see not only the good, but also the bad and the ugly. We must never forget the eternal law of the harvest: we reap what we sow. If you sow excellence, diligence, and ethics, the harvest—though it may take decades—will always find you,” Dr. Katto said.
Addressing the graduands, Mr. Japheth Buleetwa Katto urged them to embrace the unexpected, recognize that integrity is their greatest strength, and harness the power of networking. He reflected on his own journey, crediting teachers, mentors, colleagues, and family for their support, and encouraged the new graduates to always strive to make a positive impact in everything they do.
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