General
Dr. Martin Aliker to Prof. Maggie Kigozi: The Legacy of MakEF
The Outgoing Chairperson, Makerere University Endowment Fund (MakEF) Board of Trustees, Dr. Martin J. Aliker has in his handover speech reported that the Inaugural Board grew the onshore fund from scratch to UGX 1.2 Billion by the end of their tenure in 2019. This was at a function presided over by the Chairperson of Council, Mrs. Lorna Magara on 30th September 2021 in the Central Teaching Facility 2 (CTF2) Auditorium to inaugurate the new MakEF Board.
Dr. Aliker’s remarks read on his behalf by member of the Pioneer Board, Mr. Barnabas Tumusingize reported that this growth was made possible through several income generating activities including the MakEF Run (MakRun).
“The onshore return on investment during our tenure was 14.5 percent. All this investment was undertaken through treasury bills, bonds, equities and cash deposits. Our Board considered investing in securities as the primary approach to growing the Fund through capital appreciation” read Dr. Aliker’s speech.
During their tenure, the Inaugural Board appointed a fund administrator, fund manager and custodian for the efficient management of the onshore endowment fund. The onshore fund is complemented by an offshore fund managed in the United Kingdom (U.K.).
Dr. Aliker nevertheless noted that despite its popularity in the global north, the idea of university endowment funds was nascent in Makerere and the African continent. “For instance, there are a few studies that have been conducted to examine the utility and systematic trends that bear useful lessons for the Board and other stakeholders” he added.
He concluded by wishing the incoming board chaired by Professor Maggie Kigozi success. “We commit our availability for consultations as and when the need arises, as We Build for the Future.”
The Vice Chancellor, Prof. Barnabas Nawangwe who was represented by the Principal College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali in his remarks extended sincere gratitude to the outgoing MakEF Board for the pioneer efforts and dedication, despite the fact that the concept of endowment funds is yet to be fully appreciated in this part of the world.
Prof. Nawangwe commended the outgoing board for;
- Identifying and entering into contract with two fund managers; GenAfrica Asset Management Limited for the onshore fund and Crown Agents Investment Management for the offshore fund based in the UK.
- Their oversight that enabled prudence in investment that resulted in a commendable return on investment. The onshore fund grew from nothing in 2014 to the current UGX 1.5 Billion, while the offshore fund is now valued at 1.5 Million GBP (approximately UGX 7.1 Billion)
- Popularising MakEF through various activities such as the MakRun held in 2017, 2018 and 2019.
- Reaching out and encouraging Colleges at the University to contribute to the fund. CoBAMS positively responded by establishing a college fund.
- Reaching out to institutions affiliated to Makerere University such as Makerere College School and encouraging them to contribute to the fund in response to a resolution by the University Council.
The Vice Chancellor acknowledged that whereas endowment was still in its infancy, the Management looks forward to a future where MakEF would be able to support; the University’s academic endeavours, financial aid to deserving students from humble backgrounds, the University’s research agenda and the University’s long-term strategic planning.
“I would like to start by inviting everyone to join me in appreciating the contribution of Dr. Martin Aliker and the members of the outgoing Board of Trustees, whose dedicated service has led us to this day” remarked Mrs. Lorna Magara, the Chairperson of Council as she commenced her address.
The Board chaired by Dr. Aliker was also made up of; Ambassador Edith Sempala, Mr. Martin Owiny, Mr. Barnabas R. Tumusingize, Mr. Grace Isabirye, Prof. John Ddumba-Ssentamu and Hon. Gerald Karuhanga.
She observed that it was over seven years since the University Council established MakEF at its 130th Meeting held on 20th February 2014, motivated by the dream to build a sustainable financial base for Makerere and diversify revenue beyond the reliance on student fees and Government subvention.
“The motivation to set up Makerere University Endowment Fund is much more critical today than it was then. The financial demands of the University will continue to rise following the current and future ambitions in research and innovation, along with the need to implement new technologies for teaching and learning” remarked the Chairperson Council.
She added that although MakEF was still modest in comparison to the initiatives of Makerere’s international peers, she was confident that the Fund was on the right path, thanks to the strong foundation laid by Dr. Aliker and the pioneer Board of Trustees.
“It will be up to the new Board to pursue the multiple opportunities available amongst alumni, local and international philanthropists, the private sector, government and development partners to raise the Fund to greater heights” added Mrs. Magara.
She congratulated the new Board upon their appointment and wished them a fruitful tenure. “It is my greatest honour to inaugurate the new Board of Trustees, as We build for the Future” she concluded.
In her acceptance speech, Prof. Maggie Kigozi admitted that it was a great honour to serve as the second Chairperson of Board of Trustees of MakEF, following in the footsteps of Dr. Martin J. Aliker and the commendable work done by his pioneer Board.
“ Makerere University is not only a premier institution of higher learning in Africa but also my alma mater.” Professor Kigozi enthused before adding, “It was truly an honour and a privilege to have been selected. So many people would have loved to be with us here and so we do not overlook the privilege of having been given those years to study at Makerere.”
Turning to the Mrs. Magara, the first female Chairperson of Council in Makerere’s history she said, “To be here working with you will be such an honour and the young girls out there watching us, watching you, watching me are motivated. They know they can aim for the highest.”
Prof. Kigozi shared that the incoming board would deliberate and agree upon a robust visibility and mobilization campaign hinged on the following;
- A digital platform to profile alumni from all over the world and mobilize them to contribute to ongoing activities such as the MakRun
- Increasing MakEF’s online presence through a dedicated website that highlights the Fund’s projects and various ways through which contributions can be made
She added that her board would develop an investment plan for the purpose of diversifying MakEF’s investment portfolio so as to grow the asset selection and minimise potential investment risks.
“From my experience in the investment world, I am aware that an investor’s asset allocation decision has a strong bearing on portfolio performance of a Fund. Together with my colleagues, we will review the asset allocations and in consultation with existing policies, determine the best options for the Fund” pledged Prof. Kigozi.
As she concluded her remarks, the Incoming MakEF Board Chairperson highlighted that there was a lack of empirical studies specific to the nascent endowment fund terrain on the continent, which made it difficult for institutions like MakEF to systematically examine trends in the endowment sector as a whole. She therefore implored the university to invest in research in this area, which would eventually benefit both the Board and MakEF’s portfolio.
The new members of the MakEF Board of Trustees are;
- Professor Maggie Kigozi – Chairperson
- Associate Professor Umar Kakumba – Member
- Mr. Martin Owiny – Member
- Ms Anne Juuko – Member
- Mr. Kenneth Mugambe – Member
- Mr. Barnabas R. Tumusingize – Member
- Mr. William Ndoleriire – Member
Please see Downloads for brief profiles of the new MakEF Board and Speeches from the event.
General
Minister Janet Museveni Lays Foundation Stone for School of Graduate Studies Building, Commissions the School of Law Building and the renovated Lumumba Hall
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni, has laid the foundation stone for Makerere University’s School of Graduate Studies building, whose construction is now underway.
The Minister laid the foundation stone for the USD8 million project during a brief function held on Wednesday 18th December 2024 at the site opposite Makerere University’s Lumumba Hall. The event was attended by several dignitaries, including the State Minister for Primary Education, Hon. Joyce Moriku Kaducu, University Council Chairperson Mrs. Lorna Magara, and Makerere University Vice Chancellor, Professor Barnabas Nawangwe.
Others in attendance included Acting Deputy Vice Chancellor of Finance and Administration, Professor Henry Alinaitwe; Acting Deputy Vice Chancellor of Academic Affairs, Professor Buyinza Mukadasi; University Secretary Mr. Yusuf Kiranda; Dean of Students Winfred Kabumbuli; Guild President Vincent Lubega Nsamba; and the Vice Guild President, Joy Eve Serunjogi among others.
The building is a donation (in-kind) from the late Hasmukh Patel, an industrialist and former Chairman of Tororo Cement who passed away on August 29, 2024, after a short illness. The journey to this befitting donation to Makerere University started in December 2022, when Hasmukh Patel accompanied by some members of his family and friends visited the Vice Chancellor, Prof. Barnabas Nawangwe to declare his donation. From December 2022, a number of meetings were convened involving the Minister of Education and Sports, the University leadership, Mr. Hasmukh Patel, his family and Tororo Cement regarding this donation. Living true to his commitment during those meetings, his family and Tororo Cement are implementing his wishes to construct the building, which will house the School of Graduate Studies at Makerere University.
Before laying the foundation stone for the School of Graduate Studies building, Hon. Janet Museveni first unveiled a plaque to officially open the new building for the School of Law. She then headed to Lumumba Hall, where she unveiled another plaque marking the completion of its renovation.
The First Lady, who had initially laid the foundation stone for the School of Law building on May 17, 2022, returned to the main campus to officially open the completed structure. Funded by the Government of Uganda to the tune of UGX 7.3 billion, the new three-storeyed building features lecture rooms, tutorial and seminar rooms, a library, a moot court, offices, a cafeteria, a lactation room, and other teaching and learning facilities. Construction was undertaken by M/S CK Associates, with Symbion serving as a consultant.
The renovation works for Lumumba Hall commenced in June 2023, with the site handed over to the contractor, National Enterprise Corporation (NEC). Funded by the Government of Uganda to the tune of UGX 9 billion, the project involved extensive renovations to restore Lumumba Hall to its original splendor. Lumumba Hall now accommodates about 725 students.
Lumumba Hall was the first hall of residence to undergo renovation, followed by Mary Stuart Hall, which has also been handed over to NEC for refurbishment. These renovations, which began last year, are a result of the Government of Uganda’s efforts to improve the nine (9) halls of residence at the main campus.
Speaking at the event, Hon. Janet Museveni thanked the University Council and management for their dedication to rebuilding the institution. She expressed confidence that the physical restoration efforts would also rebuild the character of young people.
“There is a restoration of dignity that comes to an institution or a community when we choose to rebuild and it is not only physical, there is a spiritual restoration that comes as well. For Nehemiah, it was not just the rebuilding of a physical wall it was the rebuilding of broken lives and a broken covenant. It was the rolling away of the reproach they had suffered as a nation,” she said.
Adding; “I therefore salute the Council and the management of Makerere for your dedication to the rebuilding of this University. I am confident that as you rebuild physically, you are rebuilding the character of our young people. My prayer is that the physical restoration is translating into the spiritual restoration of this great institution.”
The first lady, Hon. Janet Museveni recalled her earlier visit to Makerere University, where she observed the dilapidated state of the halls of residence, which prompted her to initiate the renovation works.
“I remember taking a tour of the halls of residence in this University and Kyambogo University in the thick of the COVID-19 pandemic. My heart bled when I saw the state of the halls of residence. Like Nehemiah, I took my burden to the Lord and now see what the Lord has done! Commissioning of the refurbished Lumumba Hall today is a testament to the faithfulness of our God. It is even more gratifying to know that other projects are ongoing and these include: the renovation of Mary Stuart Hall, the construction of the Perimeter Wall, and improvements at the University Hospital, including setting up an operating theatre and ICU.” She said.
Hon. Janet Museveni also expressed gratitude to the Vice Chancellor, Prof. Barnabas Nawangwe, for his leadership, which facilitated the realization of the Tororo Cement project. “This Project would not have been possible without the guidance and leadership of the Vice Chancellor of Makerere University, Prof. Nawangwe, who drew my attention to this offer by Tororo Cement, and requested me to endorse this Project, which will be named after Mr. Hamukh Patel,” she said.
Adding: “I am informed that the construction of this building is estimated to cost 8 Million US dollars and will consist of: lecture and seminar rooms, smart classrooms, laboratories, an innovation space, a conference hall, offices and other facilities. We remain forever grateful for this donation, which will increase access and contribute to improving the quality of postgraduate education.”
Speaking at the event, Vice Chancellor Prof. Nawangwe commended Hon. Janet Museveni for prioritizing the development of Makerere University, which has seen remarkable progress under her leadership. “Hon. Minister, from the time you took over the Office of Minister of Education and Sports and the Higher Education Sector, Makerere University in particular has transformed tremendously. Most notable is the infrastructure revolution at Makerere. On several occasions, you have come to Makerere to lay the foundations for new buildings and to open completed buildings, including our iconic Main Administration Building,” he said.
“When you inspected the halls of residence in 2021, I could see the frustration in your eyes, looking at the dilapidated state the halls were in, especially Lumumba, part of which had been condemned for 2 years,” Prof. Nawangwe said.
“Hon. Minister, I am sure that today, after seeing the glamorous new building for the School of Law and the glittering renovated Lumumba Hall, you are in a completely different mood compared to that visit in 2021. We are as delighted as you must be and your efforts are the reason for our happiness today. Our law students and professors can now comfortably study, work and conduct research in the best building for any school of law that I have seen,” Prof Nawangwe added.
Reflecting on the Graduate School Building, Prof. Nawangwe recalled when he received a proposal from Mr. Hasmukh Patel in 2022 who had initially intended to donate the Main Administration Building, which had been destroyed by fire, but opted to donate School of Graduate Studies Building after finding that the main building reconstruction had already started.
“Hon. Minister, in the morning of 13th December 2022, a miracle happened in my office in the Frank Kalimuzo Building. General David Muhoozi and Major General Apollo Gowa walked into my office with the Late Hasmukh Patel. Gen. Muhoozi introduced Mr. Hasmukh Patel as the Chairman of Tororo Cement, who after learning about the destruction by a fire of our Main Administration Building, expressed the wish to reconstruct that iconic building. On reaching Makerere, Mr. Hasmukh Patel found a contractor already on site, and he told us, that he would all the same donate a building to Makerere University as a gift on our 100th anniversary,” Prof Nawangwe said.
“He said it in such a simple way, that I thought I was dreaming. That evening, at the invitation of Mr. Patel, I visited the building that Mr. Patel had built for a school at Bukoto and I told him that a similar building for Makerere would be just what we needed for our School of Graduate Studies and Research that we needed. The University Council unanimously voted to thank Mr. Patel for his magnanimous offer and, you, Maama Janet graciously endorsed the project. I later visited Mr. Patel in Mombasa and was amazed at the humanitarian work he was doing among the communities. He was such a rare human being,” Professor revealed.
“Today we are here to witness the laying of the foundation stone for this, the largest academic building at Makerere University, and the first such donation I know by an African philanthropist to a university in Africa. The building will have lecture and seminar rooms, a conference hall, innovation spaces, PhD student rooms, computer and other laboratories, a restaurant, staff offices and other facilities. I thank Tororo Cement and the family of the Late Hasmukh Patel for honoring his wish and I wish to assure Mr. Patel, who must be in heaven smiling at us, that we will honor his legacy in this building and that we will put the building to its best use in the service of humanity, which is what Mr. Patel lived for,” Prof Nawangwe added.
On her part, the state Minister for Primary Education, Honorable Joyce Moriku Kaducu acknowledged Hon. Janet Museveni for prioritizing the Education sector in her leadership, which has led to the tremendously development of the sector.
“On behalf of the education sector, we want to thank you as the mother of the nation, indeed you are a big gift and a blessing to the nation and education at large, all this achievement would not have been possible if it was not under your visionary leadership and the guidance you have offered,” Minister Kaducu said.
Hon. Kaducu also hailed Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model, which is intended to create wealth among citizens.
“As President Museveni is preaching the message of wealth creation, I want in a special way to thank Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model (PDM), and they have a committee that monitors and informs government. They are indeed part of the team promoting wealth creation in this country,” she said.
Mrs. Lorna Magara, the Chairperson of the Makerere University Council said that the construction of the Graduate studies building speaks to the University’s mission of being a research-led institution because it comes as a dedicated building to house the Directorate of Research and Graduate Training, which marks the resolution of a critical gap in our institutional framework
“At the heart of Makerere University’s current strategy is the promotion of a research-led institution, with a strong focus on graduate training. The establishment of a dedicated facility for the School of Graduate Studies, which also houses the Directorate of Research and Graduate Training, marks the resolution of a critical gap in our institutional framework. The late Patel’s timely and generous contribution will undoubtedly advance graduate training and research for generations to come. We extend our heartfelt gratitude for your exceptional support,” she said.
Mr. Manish Varsani who represented the Patel family took the first lady through how Mr. Hasmukh Patel started the idea of donating the building to Makerere. He explained that, Mr. Patel intended to present a gift that was coming from the bottom of his heart, and he teamed up with General Muhoozi who led him to Prof. Nawangwe’s office.
He also recalled when Mr. Patel met H.E President Yoweri Kaguta Museveni Museveni in Bukoto where he (Patel) had donated a building to a school and told the President that he would want to donate the same building to Makerere University as a gift to the First Lady Janet Museveni because he loved her so much, and in response, the President said he would take the message back to the First Lady.
The Guild President Lubega Vincent Nsamba asked the First Lady to consider constructing another hall of residence for the female students to solve what he described as an accommodation imbalance.
“Maama Janet Museveni, allow me to report to you that we still have only three halls of residence gazetted for female students against the six halls of residence gazetted for male students. These halls of residences were built back in colonial and independent times when the female students were fewer compared to their male counterparts, and to me Maama, this accommodation imbalance is something that should be addressed,” he stated.
“To me Maama, this speaks to the sense of how there is a dire need to invest in another additional hall of residence for the girl child here at Makerere University, and Maama, without any fear of contradiction, we humbly request that you consider building an additional hall of residence named after you in recognition of the contribution and honor of the service you have made for this country as a mother and as an educator,” he said.
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