General
Mak Holdings Ltd New Board Inaugurated Upon a Firm Foundation
“We know that ultimately you are the land Lord, Your word has said that ‘the earth is Mine and everything that is within it,’ and our role is to be good stewards of the resources that You have given us” prayed Rev. Can. Onesimus Asiimwe as he opened the handover ceremony with prayer.
“So bless them, use them Lord to bring into fruition the plans, the prospects that will bring development to this great university,” echoed the Chaplain’s prayer across in the cavernous Central Teaching Facility 2 (CTF 2) auditorium, where a select few had gathered to witness the handover of the Outgoing and inauguration of the New Board of the Makerere University Holdings Limited (Mak Holdings).
The ceremony, also streamed live to a virtual audience across various platforms on 9th September 2021 was presided over by the Chairperson of Council, Mrs. Lorna Magara and graced by Members of Council, the Vice Chancellor, Prof. Barnabas Nawangwe, Deputy Vice Chancellor (Academic Affairs), Dr. Umar Kakumba, Ag. Deputy Vice Chancellor (Finance and Administration), Dr. Josephine Nabukenya and members of Management.
“On behalf of Management, I would like to thank the Outgoing Board led by Mr. Charles Mbire, for the firm foundation on which the Incoming Board will surely build,” lauded Prof. Nawangwe in his welcome remarks. Mak Holdings was set up by the University Council in June 2014 to improve both the University’s financial position and the nature and extent of services offered to students, personnel and the general public. The first board was inaugurated on 31st August 2014.
The Vice Chancellor reiterated that Makerere has an objective to become a research-led university while decreasing her dependence on the national coffers. He therefore thanked the Outgoing Board for their selfless service to Makerere University in a bid to achieve this objective.
In recognition of their exemplary service, the Chairperson of Council presented certificates of appreciation and plaques to Mr. Charles Mbire (Chairperson), Dr. Ruth Biyinzika Musoke, Dr. Gorettie Nabanoga, Dr. Winifred Tarinyeba-Kiryabwire (in absentia), Mr. Dan Kasirye (in absentia), Mr. Charles Ocici and Prof. William Bazeyo (in absentia).
“I thank you on behalf of the other Members of the Board of Makerere University Holdings Limited for the trust you gave us to serve our two terms, to steer a newborn baby called Makerere University Holdings Company,” acknowledged Mr. Mbire in his handover speech.
Using the analogy of a midwife and the important role she/he plays when a baby is being born into this world, Mr. Mbire shared that the Outgoing Board Members had sacrificed a lot of their time, effort and applied their expertise to try and get the newborn baby to start walking, and possibly start running.
“From a business angle, you have one of the best assets I can assure you” addressed Mr. Mbire to Members of Council and Management. “You actually do not need much from the Central Government; if you worked around this asset, you would be a self-sustaining university and I beg you and the New Board to work so much towards that” he added.
To inspire the Incoming Board he termed as ‘very capable’, Mr. Mbire shared two departing remarks, “picture yourself with a letter calling you to a committee to explain where the public money of 47 million shareholders has gone” and “eyes on, but hands off. That’s the function of a board”.
With the audience’s curiosity sufficiently piqued, it was time for Dr. Josephine Nabukenya to present the profiles of the very capable New Board Members of Mak Holdings. The seven (7) member Mak Holdings Board is composed of four (4) external members and three (3) internal members from Makerere University.
Mr. Christopher K. Musoke (Chairman) is an inclusive financial sector specialist with a wealth of experience in financial management, business management, project management, corporate governance and financial sector development spanning more than two decades.
Dr. Godrey Akileng (Makerere) holds a PhD in Accounting of the National University of Ireland at the University of Cork, a Master of Science, Accounting and Finance and a Bachelor of Commerce (Accounting) of Makerere University. He is currently the Dean of the School of Business and Chair of the School Board and its committees at the College of Business and Management Sciences (CoBAMS). Prior to that, he was Head, Department of Accounting and Finance. He has taught and mentored many students and colleagues, some of whom currently occupy high offices in both public and private sectors in Uganda and Internationally.
Dr. Ruth Biyinzika Musoke is an experienced Private Sector Development expert holding a Doctor of Business Administration; Honoris Causa (DBA) Specialist in Project Management from Commonwealth University, an MBA specializing in SME Development and a Bachelor of Commerce (Accounting). She has more than 10 years of proven working experience as a Programme Manager designing, implementing, monitoring and evaluating projects and programmes as well as providing technical advice to multi-sectoral development projects, including agribusiness, education, manufacturing targeting the corporate and SME sector in both urban and rural development. Ruth has worked extensively on large and complex development programmes in Uganda, Tanzania, Kenya and Ghana for international donor organizations including WB, DFID, EU, ADB and USAID.
Mrs. Judy Rugasira Kyanda is a commercially and technically savvy property professional with over 25 years’ experience in the East African, and the United Kingdom Real Estate markets. Mrs. Kyanda is a result oriented and highly driven individual with proven leadership skills, who is able to deliver results through the development and motivation of teams. She fully understands the value and importance of integrity and accountability in the business environment and uncompromisingly drives her team to go the extra mile to exceed clients’ expectations.
Mrs. Priscilla Mirembe Serukka is an experienced Leader and Manager with a Masters Degree in Management. She is an effective team builder with experience in leading dynamic-results-based International organizations. For 15 years, she led an International NGO intervening in 5 East African countries. She also posses 21 years’ experience in building successful investment portfolios and effective funds management.
Assoc. Prof. Ireeta Tumps Winston (Makerere) is a down to earth academic, researcher in optical fiber communication and loves passing on knowledge to others especially his students. He has supervised over 25 MSc. and PhD students and published over 30 peer reviewed journal papers. Assoc. Prof. Ireeta holds a Bachelor of Science Degree in Physics and Mathematics from Makerere University, a Master of Science Degree in Physics (Electro-Optics) from the Norwegian University of Science and Technology (NTNU), Trondheim, Norway and a PhD in Physics (Optical Fiber Communication) from Nelson Mandela Metropolitan University (NMMU), Port Elizabeth, South Africa.
Prof. William Bazeyo (Makerere) is a Uganda Physician, Academician and a Professor of Occupational Medicine at Makerere University. He holds a Bachelor of Medicine and Bachelor of Surgery Degree (MB ChB) Makerere University, a Master of Medicine Degree (Occupational Health) (M Med OM) National University of Singapore, a Doctor of Philosophy (PhD) Atlantic International University and a Doctor of Science (Honorary Degree) from Tufts University. Prof. Bazeyo also obtained a certificate in Authentic Leadership Development from Harvard Business School. Currently, he acts as Head of Grants Administration, Management and Support Unit (GAMSU) of Makerere University.
Prior to inaugurating the New Board Members, the Chairperson of Council, Mrs. Lorna Magara expressed her deep appreciation of the work that the Outgoing Members had done to bring Mak Holdings to its current state.
“As the Inaugural Board of Makerere Holdings, you took up the responsibility of steering the company before it attained the proof of concept, and when it was debatable whether a holding company was a workable idea for a university. You built the foundation that has got us where we are today, for this we cannot thank you enough” said Mrs. Magara.
Carrying forward Mr. Mbire’s analogy of the Inaugural Board’s role as midwife, she added, “You are the parent of this Makerere Holdings and when a parent has delivered a child, they do not leave that child in hospital. They work and nurture and train that child to adulthood and so we are trusting that you will still be available for us to come back to you for consultation and guidance.”
Mrs. Magara warmly welcomed the New Board Chairperson and Members, and thanked them for accepting to serve Makerere University. “An excellent team can only succeed a great team; you are standing on the shoulders of those that have gone before you and so we look forward to a great journey that lies ahead of you. We have all the faith that you will open new frontiers and scale new heights” she added.
The Chairperson noted that although Makerere as the pioneer is still testing the concept of holding companies in Ugandan universities, the Council has great expectations of and confidence in Mak Holdings. “The assets in this university present incredible opportunity to not only provide finances to manage this institution but also provide resources that can reach out to the communities around and make a difference.”
She added that Mak Holdings with the support of Council has the potential to convert the University’s land as well as the Intellectual and other properties to generate the needed revenue to finance her ten year strategic plan as approved in 2020.
“The University Council pledges utmost support to Mak Holdings. Over the last couple of months, we have strengthened the framework conditions in which the company will operate; the University’s Investment Policy has been revised and the reporting relations between Mak Holdings and other University organs have been streamlined” reassured Mrs. Magara before announcing, “It is now my singular honour and privilege to declare the New Board of Directors of Makerere University Holdings inaugurated.”
Delivering his acceptance remarks, the Chairman Board of Directors Mak Holdings Mr. Christopher K. Musoke thanked the Outgoing Board for laying a foundation upon which they could now build. “I know a little bit about building and if the foundation is not right, whatever you do above ground is a waste of time; something will break.”
Turning to his New Board Members, Mr. Musoke thanked them all for heeding the call to serve, particularly those that had accepted to stay on from the previous term, noting that this would give continuity. He acknowledged that although the New Board had high expectations to meet, he confessed “I believe with God, all things are possible.”
Mr. Musoke noted that although the new normal occasioned by COVID-19 poses a few challenges to the work environment, new and exciting innovations were causing their fair share of disruptions too. “Let us not ignore this. Things are being done differently now because of technology and we must be alert and aware as Makerere Holdings of how we can take advantage of these paradigm shifts.”
“By the grace of God we will triumph and indeed, we will be able to Build for the future” concluded Mr. Musoke.
Please click the embedded video below to view the proceedings
General
Makerere University and World Bank Sign Partnership to Strengthen Environmental and Social Sustainability Capacity
On 5th March 2026, Makerere University signed a Memorandum of Understanding (MoU) with the International Development Association (IDA), the financing arm of the World Bank Group, establishing a strategic partnership aimed at strengthening environmental and social sustainability systems in Uganda and the wider East African region.
The collaboration brings together Makerere University through the College of Agricultural and Environmental Sciences (CAES) and the College of Humanities and Social Sciences (CHUSS) and the World Bank to jointly advance training, research, and policy advisory in environmental and social sustainability.
The three-year agreement provides a framework for cooperation focused on building national capacity to manage environmental and social risks associated with large-scale development investments.
Advancing Sustainable Development through Knowledge Partnerships
The partnership will be anchored in the Environment and Social Sustainability Centre (ESSC) at Makerere University, a national hub established to promote applied research, policy engagement, and professional training in environmental and social governance.
Through the Centre, the two institutions will collaborate to strengthen Uganda’s ability to plan and implement development projects in ways that safeguard communities and the environment.
Speaking during the signing ceremony, Ms. Francisca Ayodeji (Ayo) Akala, the World Bank Country Manager emphasised that the collaboration reflects a shared commitment to strengthening systems that support sustainable growth.
“This partnership with Makerere University is an important step in strengthening Uganda’s systems for environmental and social sustainability. By working through the Environment and Social Sustainability Centre, we aim to build the capacity of professionals across government, the private sector, and development institutions to better manage environmental and social risks and deliver investments that promote sustainable growth while protecting people and the environment.” Ms. Francisca Ayodeji (Ayo) Akala, World Bank Country Manager, Uganda, noted.
The partnership will support training, research, and policy advisory activities through the ESSC, helping Uganda pursue a development trajectory that promotes economic growth while protecting people and the environment.
Building National Capacity for Environmental and Social Risk Management
Uganda’s development agenda under the Fourth National Development Plan prioritises large-scale investments in infrastructure, agro-industrialisation, energy, and science and technology. However, such investments require strong environmental and social risk management systems to ensure sustainable outcomes.
The new partnership, therefore, focuses on building a skilled workforce capable of applying international best practices in environmental and social governance.
Under the MoU, Makerere University will design and deliver demand-driven short-course training programs targeting public sector officials, development practitioners, financial institutions, civil society organisations, and private sector actors implementing major projects.
Seven certificate-level short courses have already been developed and approved across multiple colleges at the University. These courses cover areas such as environmental and social risk management, climate risk assessment, construction health and safety, and integrating environmental and social considerations into investment cycles.
“Makerere Universityis proud to partner with the World Bank in strengthening Uganda’s capacity to manage environmental and social risks in development investments. Through the Environment and Social Sustainability Centre, we have already developed and approved seven certificate-level short courses across multiple colleges, designed to equip professionals in government, the private sector, and development institutions with practical skills to plan and implement sustainable projects. This collaboration reflects Makerere’s commitment to providing knowledge-driven solutions that support Uganda’s development while safeguarding communities and the environment.” Prof. Barnabas Nawangwe noted.
Strengthening Collaboration between Academia and Development Partners
As part of the agreement, the World Bank will support the development and delivery of the training programs, including conducting Training of Trainers (ToT) on the Bank’s Environment and Social Standards and international best practices.
The Bank will also leverage its convening power to encourage participation from development partners, government institutions, and project implementers, while supporting impact monitoring of trained professionals to document improvements in project performance and job creation.
The collaboration will further promote professional networking, policy dialogue, knowledge exchange, and the development of knowledge hubs containing environmental and social tools, databases, and resources for practitioners.
Positioning Makerere as a Regional Knowledge Hub
Through this partnership, Makerere University seeks to position the Environment and Social Sustainability Centre as a leading knowledge hub for environmental and social governance in Africa.
By combining academic expertise with the World Bank’s global experience in development financing and technical assistance, the initiative is expected to strengthen the institutional capacity required to deliver sustainable and climate-resilient investments in Uganda.
The partnership also aligns with the World Bank’s broader commitment to supporting Uganda’s development agenda and strengthening country systems for environmental and social sustainability.
Together, the two institutions aim to equip professionals across government, the private sector, and development organizations with the skills required to ensure that Uganda’s development pathway remains inclusive, responsible, and environmentally sustainable.
Caroline Kainomugisha is the Communications Officer, Advancement Office, Makerere University
General
Makerere University Explores Expanded Partnership with Stanbic Bank to Advance Innovation and Investment
On 5th March 2025, the Vice Chancellor, Makerere University, Prof. Barnabas Nawangwe, paid a courtesy visit to Stanbic Bank Uganda’s Chief Executive Officer, Mr Mumba Kalifungwa. The purpose of the visit was to explore areas for further collaboration with Stanbic Bank Uganda to strengthen innovation, entrepreneurship, and strategic investment.
The engagement reaffirmed the long-standing relationship between the two institutions and provided an opportunity to explore how academia and the financial sector can work together to unlock opportunities for students, staff, alumni, and the broader Ugandan community.
Discussions during the meeting focused on innovation and entrepreneurship support, student development programs, infrastructure partnerships, and investment opportunities linked to the University’s strategic development agenda.
Driving Innovation and Youth Entrepreneurship
During the engagement, the Vice Chancellor highlighted Makerere’s continued efforts to position itself as a research-led and innovation-driven university, emphasising the importance of partnerships with industry in translating academic research and ideas into practical solutions.
He underscored the need to empower young people with the skills and support required to create enterprises and generate employment opportunities, given Uganda’s fast-growing population, particularly the mushrooming young population. According to UBOS, by 2024, the young population was approximately 22.8 million persons out of a total population of 45.9 million people.
“If we do not support young people to innovate and create enterprises, we risk facing serious economic and social challenges. The employment of the future will increasingly be created by young people themselves,” he noted.
Among the proposals discussed was the possibility of establishing a Stanbic-supported innovation competition, aimed at stimulating entrepreneurship and providing a platform for students and young innovators to transform ideas into viable businesses.
Such an initiative could build on existing innovation and incubation programs run at Makerere and Stanbic Bank while strengthening collaboration between academia and the private sector in supporting enterprise development.
Expanding Strategic Collaboration
Speaking during the meeting, Mr Mumba Kalifungwa, the Chief Executive Officer of Stanbic Bank Uganda reaffirmed the bank’s commitment to strengthening its partnership with Makerere University.
He noted that while the bank has long provided financial services to the university and its staff, there is a significant opportunity to deepen collaboration in areas that generate broader societal impact.
“As an institution, we are interested in partnerships that go beyond financial services to create meaningful impact in society through the Stanbic Bank positive impact agenda. Education is one of the most important sectors through which we can drive that impact,” he noted.
The CEO also highlighted Stanbic Bank’s National Schools Championship program, which promotes innovation among secondary school students across Uganda, noting that a similar approach could potentially inspire initiatives at the university level.
Exploring Investment and Infrastructure Opportunities
The meeting also explored opportunities for collaboration in investment and commercialisation initiatives linked to university infrastructure and land assets.
University representatives shared insights into ongoing efforts to explore public–private partnership (PPP) models for strategic investments aimed at improving infrastructure and unlocking value from underutilised university assets.
Potential development opportunities discussed include projects related to hospitality facilities, commercial spaces, and other revenue-generating infrastructure within and around the university. Such initiatives could provide sustainable revenue streams for the university while creating opportunities for private sector participation in campus development.
Supporting Students, Staff, and Alumni
Additional discussions focused on expanding programs that benefit the wider Makerere community. These include financial literacy initiatives for students, expanded internship and graduate training opportunities, and collaborative programs to support student entrepreneurship and enterprise development.
The meeting also explored opportunities for collaboration in alumni engagement, leveraging Makerere’s extensive global alumni network to strengthen partnerships between the university and industry.
Programs aimed at improving financial preparedness and retirement planning for staff were also discussed, alongside potential housing and asset financing solutions tailored to the needs of university employees.
“Through this partnership, we are exploring opportunities that support the entire Makerere community, from financial literacy and entrepreneurship programs for students to internship pathways, alumni engagement, and financial preparedness initiatives for staff. These efforts will be anchored within the renewed collaboration framework between Makerere University and Stanbic Bank Uganda,” said Mr Awel Uwihanganye, Chief Advancement Officer.
The Chief Advancement Officer further noted that these initiatives are expected to be anchored within a renewed Memorandum of Understanding (MoU) between Makerere University and Stanbic Bank.
A Shared Vision for Impact
Both institutions expressed optimism about the potential of the partnership to contribute to national development by supporting innovation, enterprise creation, and the development of future leaders.
As Makerere University continues to strengthen its role as a leading research and innovation institution in Africa, partnerships with forward-looking institutions such as Stanbic Bank Uganda remain critical in advancing the university’s mission of generating knowledge, nurturing talent, and driving solutions that address national and global challenges.
Caroline Kainomugisha is the Communications Officer, Advancement Office, Makerere University
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