Business & Management
School of Business Staff undertake Capacity Building
In a bid to keep abreast with the changing trends in the business sector, staff of the School of Business, College of Business and Management Sciences (CoBAMS), led by the Dean Dr. Akileng Godfrey on November 3, 2021 spent the day interacting with players in the private sector. The staff undertook the capacity building as part of their continuous professional development.
The staff heard from Mr. Kakande Robert, the MD of Finca Uganda who shared an analysis of the performance of the financial sector in Uganda. The participants learnt that despite the Covid–19 pandemic, the banks saw an increase in cash deposits by 20% and a decline in the loan portfolios by 14%. This was attributed to the decline in trade, owing to the travel restrictions. This was also compounded by the fact that Ugandans are generally a risk averse population. Many people, about 49%, borrow from informal lenders such as friends, family and investment groups. It was noted that only 11% of the population keep their money in banks. About 43% keep money in saving groups, 27% keep it at home while 23% keep it on mobile phones.
This, Mr. Kakande said calls for a national financial inclusion strategy. Some of the emerging and contemporary issues in the financial sector include digitization. The world is growing exponentially, which calls for new ways of doing things. The development of the internet, artificial Intelligence, Internet of things has forced banks to digitize all their services. This Mr. Kakande said, has helped improve customer experiences and reduce the number of people transacting in the banking hall. Today, Uganda has 28 million mobile phone users, 12.1 million internet users and 3.6 million social media users. This means the financial sector also has got to evolve and meet the demands of these customers. This has seen the development of online banking, bank to phone transactions, which have greatly improved the financial sector.
The participants learnt that Bank of Uganda, had issued new regulations for commercial banks, in an effort to secure depositors money. This, Mr. Kakande called the BASEI 11 Capital Accord Framework. Commercial banks are now required to have operating capital of Shs150 billion up from Shs25 billion, while tier 4 institutions such microfinance institutions are required to have capital of Shs5billion up from Shs500 million. BOU has also set out to regulate the Mobile Money business which is being run by the telecommunication companies.
Another emerging issue is Bancassurance. This is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank’s customers. In this partnership, bank staff and tellers become the point of sale and point of contact for the customer. Agency banking is another contemporary trend that the financial institutions have adopted. This has also been done in an effort to extend the bank to the clients.
On the issue of high interest rates charged by the banks, Mr. Kakande said, this is because the credit risk among the population is high. The emergence of Infrastructure bonds is something the financial sector players also have to look at in the future.
The staff also got an opportunity to interact with Mrs. Immaculate Ngulumi, the Marketing Manager of Centenary Bank. She shared how the service industry has been able to attract and retain clients. Mrs. Ngulumi said that because service is not a tangible product, the service providers have to appeal to the emotions of people. This, she said calls for investment in 3 Ps (People, processes and physical evidence). The people/staff, she said, have to be well trained, motivated and treated well, so that they can pass on this positivity to the clients. The processes have to be quick and seamless while the ambiance must be good. She shared with the team, the 4 aspects of managing services
- Managing customer relationships
- Managing service quality
- Managing service productivity
- Managing staff and positioning services
Mrs. Ngulumi concluded by saying that in the service industry, the customer does not buy a product, they buy the experience, so give them the best experience.
Other topics discussed included the International Financial Reporting Standards and the role of the private sector in public sector procurement.
The Dean School of Business, Dr. Godfrey Akileng thanked the participants for attending and the facilitators for making time to share with his team.
Betty Kyakuwa is the Principal Communication Officer, CoBAMS
Business & Management
Government Officials Equipped with Critical Skills in Financial Appraisal and Risk Analysis
A two-week intensive training in Financial Appraisal and Risk Analysis for government officers across Ministries, Departments, and Agencies (MDAs) concluded today April 11, 2025 at the Pearl on the Nile Hotel in Jinja. The training, delivered under the Programme on Financial Appraisal and Risk Analysis (PIAR) and spearheaded by the Public Investment Management Centre of Excellence (PIM CoE) at Makerere University, sought to bridge long-standing capacity gaps in the preparation, appraisal, and review of public sector projects.
The event was officially closed by Dr. Hennery Ssebukeera, representing the Permanent Secretary and Secretary to the Treasury at the Ministry of Finance, Planning and Economic Development (MoFPED). Dr. Ssebukeera highlighted that the training was designed in response to a comprehensive needs assessment, which revealed persistent gaps in government officers’ abilities to carry out cost-benefit and cost-effectiveness analyses, and to prepare or assess pre-feasibility and feasibility studies.
“Many government projects have not been properly appraised due to limited internal capacity,” Dr. Ssebukeera stated. “Too often, we rely on external consultants to prepare feasibility studies, yet our officers are not adequately equipped to interrogate or validate those studies.” He expressed confidence that participants now possess practical skills to analyze topics such as risk analysis, financial modelling, discount rates, project finance, and consumer surplus. “You are now in a position to not only prepare but also critically evaluate complex project documentation,” he added.
Ms. Esther Ayebare, Acting Assistant Commissioner in the Public Investment Management Department at MoFPED, acknowledged the participants’ dedication and active engagement. “As the unit that hosts the Development Committee, we are pleased that this training has added critical skills to help you prepare and submit viable public projects,” she said, calling on the participants to be part of building a sustainable pipeline of investment-ready projects.
In his remarks, Dr. John Sseruyange, Manager of the PIM CoE, emphasized that this training is only the beginning. “While we’ve now completed the financial appraisal component, the next step is Economic Appraisal and Stakeholder Analysis—where we evaluate a project’s broader impact on society and the economy,” he said. He also extended appreciation to the Government of Uganda, particularly MoFPED, for funding the training, as well as to Ms. Esther Ayebare and other facilitators for their unwavering commitment.
Prof. Eria Hisali, who represented the Principal of the College of Business and Management Sciences, praised the participants for navigating what would typically be a semester-long course within just two weeks. “This is a practical, work-oriented training. The knowledge you’ve gained here should be applicable immediately,” he said. He further invited the graduates to attend the upcoming Public Investment Management Conference in August 2025 to share their experiences and provide feedback.
Participants also expressed their gratitude. One quoted the Quran, saying, “Whoever gives you knowledge has given you everything,” in appreciation of the facilitators and the opportunity to learn.
The PIAR program, jointly implemented by Makerere University, MoFPED, the National Planning Authority (NPA), and Cambridge Resources International (CRI), includes two modules: the just-completed Financial Appraisal and Risk Analysis, and the upcoming Economic Appraisal and Stakeholder Analysis. As Uganda continues to push for better value from public investments, trainings like this are building a critical mass of experts who will ensure that every shilling invested delivers real impact.
Business & Management
Makerere and MoFPED Resume Training of Government Officials in Financial Appraisal and Risk Analysis
The Public Investment Management Centre of Excellence (PIM CoE) at Makerere University has resumed its in-depth training program for government officials in Financial Appraisal and Risk Analysis. The two-week training, held in Jinja, brings together public officers from various Ministries, Departments, and Agencies (MDAs) across Uganda.
The training was officially opened by Ms. Esther Ayebare, who represented the Permanent Secretary and Secretary to the Treasury (PSST) at the Ministry of Finance, Planning and Economic Development (MoFPED). She emphasized the Ministry’s commitment to strengthening public sector capacity under the Public Investment Management System (PIMS) framework.
Ms. Ayebare underscored the importance of the training in building the technical capacity required for sound investment decision-making. “This training will empower you to make informed decisions, assess financial viability, and identify risks that could impact investment outcomes,” she noted.
Professor Edward Bbaale, Principal Investigator of the PIM CoE, he expressed appreciation to MoFPED for its financial support and strategic collaboration in organizing the training and nominating participants. “Your continued support is instrumental in enhancing the skills and capacity of government workers in Public Investment Management,” he said. He further acknowledged the role of Vice Chancellors, Permanent Secretaries, and CAOs in nominating participants and reaffirmed Makerere’s commitment to delivering transformative learning through a blend of theory and hands-on project appraisal.
Participants in the training will engage with real-world projects in sectors such as roads, health, energy, and education. Upon successful completion, they will receive a prestigious tripartite certificate from Makerere University, MoFPED, and Queen’s University in Canada.
The training features facilitators from Cambridge Resources International, the International Growth Centre, the National Planning Authority, and MoFPED, offering a curriculum rooted in global best practices.
Participants were encouraged to not only apply the knowledge in their respective roles but also to mentor colleagues, thereby broadening the reach and impact of the program.
The PIM CoE continues to play a pivotal role in shaping Uganda’s public investment landscape through research, advisory services, and outreach. Recent milestones include the revision of the Development Committee guidelines and the convening of a national PIM conference in October 2024.
With the resumption of this training, Uganda takes yet another step toward fostering a skilled public sector capable of steering high-impact investments for sustainable national development.
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