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Address Financial Literacy to Improve Household Income-Study

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Findings by a team of researchers from the College of Business and Management Sciences (CoBAMS) have recommended that the Government through its agencies should partner with private financial institutions to organise financial literacy trainings to teach households on how to access capital, save and invest in productive ventures. The recommendations were made at a research dissemination workshop for the project titled: Evaluation of the effectiveness of financial inclusion on household’s welfare in Uganda: A case study of Busoga region.

While officially opening the hybrid dissemination workshop held on Wednesday 29th September 2020 in the School of Business Conference Room and virtually, the Principal CoBAMS, Dr. Eria Hisali thanked the Government of Uganda for funding the project through the Makerere University Research and Innovations Fund (Mak-RIF). He equally commended the Principal Investigator (PI), Dr. Eric Nzibonera and his team on successfully completing their project and achieving the set objectives.

Chief Guest at the Dissemination Mr. John Peter Mujuni represented The Executive Director, Microfinance Support Centre.

Dr. Hisali proposed four options to ensure that the findings from the study reach a wider audience.

  1. Immediately upload the findings on the College’s new working paper series website, which will enable staff to read the document and provide feedback
  2. Proceed to transform the working paper into a journal article so as to reach audiences from different parts of the world
  3. Proactively review curricular in preparation for the possibility of gradually using research from Makerere as part of course outlines and teaching materials.
  4. Take advantage of the College’s planned framework of engaging policy makers formally through policy labs that will be held every quarter.
Principal College of Business and Management Sciences Dr. Eria Hisali officially opened the workshop

Presenting the findings from the project, the PI Dr. Nzibonera thanked the Principal for his advice and his research team for their hard work. Other members of the team that sampled 430 heads of households included the Dean School of Business Dr. Godfrey Akileng and Ms. Hellen Nambi.

“Financial Inclusion is a process through which financial services are delivered to the disadvantaged and low-income sections of the society on a timely basis and at affordable costs” defined Dr. Nzibonera, adding that “the relationship between financial inclusion and poverty alleviation has been widely discussed but only few studies explore the effect of financial inclusion on household welfare.”

He therefore shared the twofold objective of the project as; to establish the extent to which the rural households engage in financial inclusion and to examine the nature of household welfare and establish the extent to which financial inclusion enhance households’ welfare. The latter, he noted, would help guide policy recommendations to the Government and private sector.

Project PI – Dr. Eric Nzibonera (back row 5th Right), Dean of School of Business- Dr. Godfrey Akileng (R) in a group photo after dissemination of the project findings.

Dr. Nzibonera noted that financial inclusion is measured through establishing the extent of availability and accessibility to financial services, affordability, usage and quality of financial products. He added that household welfare is improved through access to quality education and health services, improved shelter, food production and consumption as well as access to information.

The findings on availability and accessibility to financial services revealed an interesting pattern. “Whereas households still find it hard to access formal financial services for savings and deposits’ and services provided by bank agents are irregular, they easily access mobile money services for withdrawals and payments” he shared.

In terms of affordability, findings revealed that although the cost of accessing financial institutions and withdrawing funds from mobile money agents is still high, the cost of accessing financial services through bank agents and carrying out financial transactions through financial institutions is affordable.

Investigations into the usage and quality of services showed that households find it easy to use mobile money and village SACCOs to make deposits and payments for school fees. Despite the ease of use, households find it hard to save with banks, microfinance institutions and SACCOs.

“The accounts opened in banks and SACCOs are not frequently used and the services offered by banks or their agents are not regular” added Dr. Nzibonera.

The research team’s findings showed that financial inclusion has partly enhanced the welfare if households in Busoga.

“The study revealed improvement in income levels as a result of accessing loans from financial institutions and SACCOs. The number of school going children has also increased as a result of borrowing opportunities from SACCOs” said the PI.  

Dr. Nzibonera added that although it is easy for households to access information about financial services relevant for welfare improvement, “there is limited income to enable households gain access to good healthcare and carry out construction.”

The team therefore made the following policy recommendations;

  1. Financial and microfinance institutions should employ agents to at least every parish or sub-county to grant households easy access to financial services.
  2. Government through District commercial officers should encourage households to organise into village savings and credit cooperative organisations (SACCOs) at parish level and identify unique financial products that promote savings and investments for different groups.
  3. Government agencies such as the Micro Finance Support Centre and Operation Wealth Creation (OWC) should partner with private financial institutions to organise financial literacy trainings for households on how to save as well as identify and invest in productive investment ventures.
  4. The cost of financing should be reduced to rates that are affordable by households. This will improve household income for both consumption and investment.
  5. Financial institutions should design financial products that would enable households to access funds for construction as long as there is a clear payment plan and evidence of source of income for loan repayments.

Speaking on behalf of the Mak-RIF Grants Management Committee (GMC) Chairperson Prof. William Bazeyo, Dr. Helen Nambalirwa Nkabala congratulated the research team upon the successful dissemination and thanked Dr. Hisali for proposing policy labs as a means of engaging policy makers.

She urged Dr. Nzibonera as a firsthand witness on the state of financial inclusion to go beyond the policy recommendations and draft a successor project proposal on solutions that can clearly and precisely take financial inclusion at the grassroots level to the next level.

“You are the right people to guide Government on what unique product the community will get and how it will help improve their financial knowledge” she recommended.

Dr. Nkabala thanked the Government for funding research and innovations that inform national development priorities and the University Management for creating an environment conducive to conducting research. In the same breath she thanked the GMC for providing oversight and the GMC Secretariat for ensuring that the projects run smoothly.

“This is a clear example of taking the Ivory Tower to the community” she concluded.

Representing Mr. John Peter Mujuni, Executive Director, Microfinance Support Centre (MSC) and Chief Guest at the dissemination, Mr. Godfrey Mangeni thanked the research team for a job well done, and pledged take the findings and policy recommendations very seriously.

“Please share these findings so that we can work with you in other areas like Bukedi and Karomoja to improve our services” he remarked.

Mr. Mangeni shared that there still remains a lot of work to be done to support Government’s Parish Development Model in the Busoga region despite MSC’s zonal office in Jinja and a satellite office in Iganga and as such, called upon researchers from Makerere to share their expertise.

Dean of School of Business and Member of Research Team- Dr. Godfrey Akileng

Delivering the concluding remarks, Dr. Akileng in his dual capacity as Research Team member and Dean noted that Financial Inclusion is an important topical issue for national development and therefore expressed happiness that the Government had found it fitting to fund the project.

“As a nation, we need to reflect reflect on Government interventions aimed at addressing gaps of financial inclusion that financial institutions have not been able to fill” he rallied. This reflection, he said, ought to be guided by the question ‘Where have been the successes in social impact and where have been the failures?’

He noted that although Financial Technology (FINTECH) is the buzzword when it comes to improving service delivery, its success is hinged on how easy it will be for end-users at the grassroots level to adopt the various solutions offered.

“I believe that a highly informed community with the ability to easily access financial services and mobilise savings is key to the improvement of household earnings as well as boost demand and productivity in the country” he added.

In the discussion that preceded the concluding remarks, Mr. John Emoi, the Manager Investments at Uganda Development Bank who joined the conversation virtually had expressed his organisation’s keen interest in the days topic and research findings. Particularly, he had urged the research team to include the development of FINTECH models as a means of disseminating financial services among their policy recommendations.

In conclusion, Dr. Akileng called for affirmative action for business teaching institutions, “Business touches every sector and it is important to appreciate that if we must make money in any sector, we must understand business.”

Mark Wamai

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CoBAMS Orientation: Principal urges first year students to prioritize academics

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Some of the CoBAMS First Year Students that filled the Yusuf Lule Central Teaching Facility Auditorium to the brim on 5th August 2025. College of Business and Management Sciences (CoBAMS) Orientation for First Year Students 5th-8th August 2025, Day One, 5th August 2025, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.

Welcoming the first year students to Makerere University, and to the College of Business and Management Sciences in particular, the Principal-Prof. Edward Bbaale said: “Prioritize your academics. I urge you to remain focused. This is your season of hard work. You are here to contribute to the transformation of Uganda and the world at large.”

The Principal made the remarks on Day One (5th August 2025) of the College of Business and Management Sciences (CoBAMS) Orientation.  Organised by the College Management and 91st College Guild Council, the Orientation is scheduled to take place from 5th to 8th August 2025 at Makerere University Yusuf Lule Central Teaching Facility (CTF2 Auditorium).

The Principal congratulated the first year students upon joining CoBAMS-the leading training unit and supply chain of professionals in economics, business, statistics and planning fields.

“We are proud to be shaping the future economists, business leaders, entrepreneurs, policy analysts, actuaries, and statisticians who will go on to transform industries, drive public policy, and make impactful decisions globally,” he remarked.

Prof. Bbaale pointed out that the College consists of three (3) schools namely Economics, Business, as well as Statistics and Planning. Providing a brief on the leadership of the College, he mentioned the Deputy Principal-Associate Professor James Wokadala, the Dean, School of Economics-Associate Professor Ibrahim Mike Okumu, the Dean, School of Business-Associate Professor Godfrey Akileng, and the Dean, School of Statistics and Planning-Dr. Margaret Banga. With reference to the orientation programme, he informed the students that they would have specialized sessions with the Deans and staff of the respective schools on 6th August 2025. The Principal also acknowledged Heads of Departments, and the College Management Board as key players in leadership.

Prof. Edward Bbaale makes his remarks. College of Business and Management Sciences (CoBAMS) Orientation for First Year Students 5th-8th August 2025, Day One, 5th August 2025, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
Prof. Edward Bbaale makes his remarks.

Inspired by the rich and celebrated history of Makerere (established in 1922), Prof. Bbaale notified the students that the institution celebrated 100 years of excellent service to humanity in 2022, and has built a reputation that transcends borders. “The name, Makerere University is recognized, respected, and revered. I call upon you, to wholeheartedly guard and protect the institution’s name and reputation,” he said.

Tackling safety and well-being, Prof. Bbaale guided that safeguarding starts with an individual. He encouraged the students to read the Makerere University Safeguarding Policy to understand the safeguarding concerns, guidelines and responsibilities of the respective Offices. He informed the students that the College had safeguarding champions including a student representative, who have been trained to handle the safeguarding concerns, and to work closely with the students’ body to identify and report safeguarding matters.

He also cautioned the students against any forms of misconduct. “The University is committed to ensuring zero tolerance against sexual harassment, and exam malpractices. During the orientation, staff from the Gender Mainstreaming Directorate will provide a brief on the Policy and Regulations against Sexual Harassment, and the College Registrars will guide you on the academic policies.”

The address by the Principal set the pace for presentations on the following critical matters: Life at Campus, Guidance and Counselling, Makerere University Tuition Policy, Information Technology and Library resources, the Emerging Leaders Program (ELP), and a networking session with the 91st College student leaders.

Building on to the Principal’s powerful message, the following University officials interacted and engaged students on 5th August 2025:  Ms Juliet Mirembe Ssewankambo-Acting College Registrar,  Ms. Rose Nalwanga-Senior Counsellor,  Dr. Peace Musiimenta-Representative of the Emerging Leaders program team,  Mr. Peter Mubiru-College Bursar,  Ms. Claire Nakaseeta-from the College Library, Mr. Gilbert Nsazimaana-DICTS,  Ms. Namazzi Madrine Kayima-School of Economics Registrar, Ms. Stella Butamanya-School of Statistics and Planning Registrar, Ms. Ritah Namisango-Principal Communication Officer, and Mr. Moses Kibirango-Web Administrator.

L-R, Mrs. Juliet Ssewankambo (AG.Colllege Registrar), Mr. Gilbert Nizeyimaana (DICTS), Prof. Edward Bbaale (Principal), Mr. Peter Mubiru (College Bursar), Ms Rose Nalwanga (Senior Counselor), and Ms Claire Nakaseeta-representing the College Librarian. College of Business and Management Sciences (CoBAMS) Orientation for First Year Students 5th-8th August 2025, Day One, 5th August 2025, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
L-R, Mrs. Juliet Ssewankambo (AG.Colllege Registrar), Mr. Gilbert Nizeyimaana (DICTS), Prof. Edward Bbaale (Principal), Mr. Peter Mubiru (College Bursar), Ms Rose Nalwanga (Senior Counselor), and Ms Claire Nakaseeta-representing the College Librarian.

From 6th to 8th August 2025, the student centered orientation features sessions on the following: Academic policies, orientation meetings with leadership of the respective Schools, understanding the responsibility of a student, health and wellness, brainteaser activities, gender mainstreaming, sensitization about the Red Cross, tour of the library and exposure to resources, as well as IT and hands-on-training.

Delighted that the first year students had turned up in big numbers, filling the auditorium to the brim, the Chairperson of the 91st College Guild Council, Fahad Ssozi Batte, said the 2025 orientation was planned to provide a rich and rewarding experience to students, as they commence the academic year 2025/2026. In addition, Ssozi Batte noted that the information and knowledge shared would provide a firm foundation to the students about life on campus. He thanked the entire College student leadership for remaining steadfast in the advancement of student interests.

Fahad Ssozi Batte (Centre in a suit) and some of the student leaders coordinating the four days Orientation at CoBAMS. College of Business and Management Sciences (CoBAMS) Orientation for First Year Students 5th-8th August 2025, Day One, 5th August 2025, Yusuf Lule Central Teaching Facility Auditorium, Makerere University, Kampala Uganda, East Africa.
Fahad Ssozi Batte (Centre in a suit) and some of the student leaders coordinating the four days Orientation at CoBAMS.

Ritah Namisango
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COVID-19 Deepened Food Insecurity Among Uganda’s Urban Poor, With Women Hit Hardest, EfD Study Finds

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Some of the stakeholders in a group photo after the dissemination workshop. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.

Kampala – July 31, 2025

A study by researchers from the EfD-Mak Centre at Makerere University has revealed stark gender differences in the impact of COVID-19 on food security among Uganda’s urban poor, with female-headed households bearing the brunt of the crisis. The findings were presented at a stakeholder dissemination meeting held at Tick Hotel in Kawempe Division, Kampala.

The research, led by Dr. Fred Matovu, Fred Kasalirwe, and Anitah Kyamugabwa, focused on Kawempe Division, one of Kampala’s most densely populated and low-income areas. Using data from a 2022 household survey of 415 respondents, along with focus group discussions and interviews with key government stakeholders, the study examined how the COVID-19 pandemic and related economic disruptions worsened food security in informal urban settings.

Peter Babyenda speaking during the dissemination workshop. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
Peter Babyenda speaking during the dissemination workshop.

Speaking on behalf of the EfD Uganda Director, Dr. Peter Babyenda stressed that Uganda’s current social protection structures are inadequate, especially for the most vulnerable. He called for policy frameworks that are informed by grassroots realities. “We need policies that involve those affected from the ground up, especially the urban poor who live on daily incomes. During COVID-19, these groups suffered immensely when lockdowns were imposed without consultations,” he said.

The study, titled “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, was conducted between 2022 and 2023 in collaboration with EfD Tanzania. In Uganda, the research focused on how urban poverty intersected with gender and food insecurity.

Peter Babyenda representing the Director EfD-Mak Centre. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
Peter Babyenda representing the Director EfD-Mak Centre.

Presenting the findings, Fred Kasalirwe reported that poor urban households, especially those relying on informal employment, were disproportionately affected due to low and unstable incomes. The containment measures introduced in March 2020 including stay-at-home orders, closure of schools, suspension of public transport, and night curfews had a devastating effect on daily earners. As economic activity halted, access to food, healthcare, and essential services declined sharply.

The research found that food security and dietary quality worsened for both male- and female-headed households. However, the impact was more severe for female-headed households due to greater caregiving responsibilities and fewer income-generating opportunities. With limited access to social safety nets, families resorted to extreme coping strategies such as selling household assets, depleting savings, and changing their diets involuntarily. Kasalirwe noted that government food assistance during the crisis was inconsistent and insufficient.

Fred Kasalirwe presenting the study findings. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
Fred Kasalirwe presenting the study findings.

He explained that female-headed households faced unique challenges, often balancing caregiving with limited means to earn income during lockdowns. “These households suffered more from income shocks, leading to worsened nutrition among children and the elderly,” he said. Most had to rely on informal networks or personal savings to survive.

The study also noted an unexpected finding: persons with disabilities experienced relatively improved food security during the crisis, likely due to targeted social support. However, this level of support was not extended to most households, exposing critical gaps in Uganda’s social protection systems.

Fred Kasalirwe presenting the research findings at Tick Hotel in Kawempe. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
Fred Kasalirwe presenting the research findings at Tick Hotel in Kawempe.

While the COVID-19 pandemic was a primary focus, researchers emphasized that food insecurity among the urban poor in Uganda has been driven by a wider series of shocks. These include prolonged droughts, floods, mudslides, economic recessions and the suspension of major aid programs such as USAID. Each of these events has further strained already fragile food systems and household resilience.

Kasalirwe warned that unless Uganda adopts robust and inclusive social protection policies, the country will remain vulnerable to future crises. He urged the government to consider gender-responsive strategies that recognize the disproportionate burden carried by women and informal workers. “Government programs often collapse because communities are not involved in designing or owning them,” he said. “What we need is a bottom-up approach where self-help mechanisms and community buy-ins are developed alongside government interventions.”

A stakeholder contributes during the discussions. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
A stakeholder contributes during the discussions.

He further noted that while COVID-19 provided the context for the study, the findings are applicable to a wide range of future shocks, including public health emergencies, climate change, and global economic downturns. “We’ve seen floods in Mbale, Ebola outbreaks, and the ripple effects of the Ukraine war. We need systems that don’t crumble when funding dries up,” he said.

The researchers urged both the government and development partners to shift focus from emergency responses to long-term resilience building. They emphasized that coping strategies such as selling productive assets or reducing food intake are impoverishing and unsustainable. The study called for a strong policy framework that prioritizes food security, supports vulnerable populations, and enhances urban livelihoods.

A participant makes contribution to the study finding. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
A participant makes contribution to the study finding.

The study recommends a participatory approach that actively involves vulnerable communities in the design and implementation of social protection programs. It also calls for the establishment of community-based safety nets that are sustainable even in the absence of regular government funding. The researchers stressed the importance of gender-sensitive planning, especially in informal settlements where women face heightened challenges during economic shocks. Additionally, the government is urged to streamline its social protection initiatives through the Ministry of Gender, Labour and Social Development, ensuring effective outreach and awareness to reach those most at risk.

The research was funded by the EfD Global Hub and coordinated by the EfD-Mak Centre. Participants at the dissemination meeting echoed the urgency of addressing urban food insecurity and preparing more effectively for future crises.

More photos from the workshop

A participant contributes during the discussion. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
A participant contributes during the discussion.

A local government official clarifies on some issues during the discussion. Dissemination by EfD-Mak Centre at Makerere University of study “Differences in COVID-19 Effects on Food Security and Adaptive Strategies among the Urban Poor: Experiences from Uganda and Tanzania”, conducted between 2022 and 2023 in collaboration with EfD Tanzania, Tick Hotel Kawempe Division, Kampala Uganda, East Africa.
A local government official clarifies on some issues during the discussion.

Jane Anyango is the Communication Officer EfD Uganda.

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Prof. Edward Bbaale endorses newly founded Mak-CoBAMS SACCO

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L-R: Dr. Christopher Alioni (Interim General Secretary), Dr. Peter Babyenda (Interim Chair), Prof. Edward Bbaale (Principal), Assoc. Prof. James Wokadala (Deputy Principal), Mr. Juliet Mirembe Ssewankambo (Mobilizer) and Mr. Peter Mubiru (Interim Treasurer). Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member on 22nd July 2025, Makerere University, Kampala Uganda, East Africa.

By Ritah Namisango and Monica Meeme

On Tuesday 22nd July 2025, Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member.

The Mak-CoBAMS SACCO, which was inaugurated on 14th July 2025, provides a platform to improve the economic well-being and quality of life of members through accessible financial services, provision of affordable loans, promotion of a savings and investment culture, financial security, and potential dividends.

The interim Committee that was instituted to kick-start the SACCO has been working under the guidance of the Deputy Principal, Associate Prof. James Wokadala as Patron.

Tasked with finalizing the operations of the SACCO, the Interim Committee, chaired by Dr. Peter Babyenda consists of the following members: Dr. Allen Kabagenyi-Vice Chairperson, Dr. Christopher Alioni-General Secretary, Mr. Peter Mubiru-Treasurer, and Mrs. Juliet Mirembe Ssewankambo-Mobilizer. The Committee members representing the three schools include: Mr. Fred Kasarirwe-School of Economics, Dr. Marion Nanyanzi-School of Business, and Dr. Hellen Namawejje-School of Statistics and Planning. Mr. Joseph Ikarok represents support staff on the SACCO.

L-R: Mrs. Juliet Mirembe Ssewankambo, Dr. Christopher Alioni, Dr. Peter Babyenda, Assoc. Prof. James Wokadala, Mr. Peter Mubiru, and Prof. Edward Bbaale interact. Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member on 22nd July 2025, Makerere University, Kampala Uganda, East Africa.
L-R: Mrs. Juliet Mirembe Ssewankambo, Dr. Christopher Alioni, Dr. Peter Babyenda, Assoc. Prof. James Wokadala, Mr. Peter Mubiru, and Prof. Edward Bbaale interact.

As the SACCO kicks off, the Committee agreed on the following contributions: Membership fee of 20,000/=, Annual subscription fee of 30,000/=, a minimum of ten shares at 100,000/= per member, and a minimum monthly contribution of 50,000/=.

The Committee believes that the rates set are manageable by members of staff. According to the Chairperson, Dr. Babyenda, the Committee is enrolling members. He stated that the minimum monthly saving of 50,000/= is a priority, and also called upon each member to pay up the minimum 10 shares before 31st July 2025.

Congratulating the College Principal, Prof. Bbaale upon becoming a member of the Mak-CoBAMS SACCO, the interim General Secretary-Dr. Alioni, reported that they need at least 30 members to start operations.

Following his enrollment as a Member, Prof. Bbaale, lauded the team for the establishment of the SACCO, a long-awaited intervention that will provide financial support to staff members. He thanked Associate Prof. James Wokadala for his resilience and dedication to making this initiative a reality. 

Prof. Bbaale explained that the SACCO is well-aligned with the college’s research and academic programs, which focus on business, economics, statistics and planning.He highlighted the critical need for accessible finance, citing it as one of the leading constraints to development and business growth. The SACCO will fill a significant gap by providing staff members with financial support at reasonable interest rates. 

Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member on 22nd July 2025, Makerere University, Kampala Uganda, East Africa.
Prof. Edward Bbaale makes his remarks.

Prof. Bbaale believes that the SACCO will transcend his tenure and become a lasting legacy for the college, providing benefits to staff members for years to come. He commended the interim committee for their hard work and commitment to establishing the SACCO. He expressed confidence in the team’s ability to manage the SACCO effectively, citing their strong work ethic and dedication.

Pledging his full support towards the SACCO, Prof. Bbaale rallied members of staff to join the initiative and participate in its activities and programmes. He stated that the SACCO will have a positive impact on the college community, addressing financial constraints and improving the well-being of staff. 

The Deputy Principal, Associate Prof. Wokadala, acknowledged the College Principal for hosting the meeting and guiding the process leading to the establishment of the SACCO. He noted that the SACCO is a long-standing dream of the college’s formulators and a game-changer for the institution. To this end, the College Board unanimously welcomed the idea and set up an interim committee to oversee its implementation.

Associate Prof. Wokadala commended the colleagues who volunteered to steer the initiative, expressing confidence that the SACCO would become vibrant and successful. He visualised the SACCO evolving into a microfinance institution or bank with member support.

The Deputy Principal reported that the Principal’s office provided a contribution of 3,000,000/= to kick-start the SACCO’s activities, which would be accounted for by the committee. He emphasized transparency and accountability in managing the funds, noting that the committee would account for every shilling received, and present a report to the Annual General Meeting (AGM).

Ritah Namisango
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