Business & Management
CoBAMS Holds Training to Improve Investment Appraisal & Risk Analysis
The Public Investment Management (PIM) Centre of Excellence at the College of Business and Management Sciences (CoBAMS) has started a two-week training in Investment Appraisal and Risk Analysis. The trainees are drawn from the Ministry of Finance, Ministry of Works, Makerere University, Ministry of Tourism, Wildlife and Antiquities, Ministry of Trade and Industry, Ministry of Education among other MDAs. The training taking place in Jinja, was opened on February 21, 2022 by the Principal CoBAMS, Prof. Eria Hisali.
Prof. Hisali commended the PIM team for fostering knowledge transfer and also encouraged the participants to take keen interest in the course, saying the skills they will get during the duration of the training will help improve the way the country does public investment.
It is envisioned that the capacity building will ensure that projects that are financed can meet the expected outcomes, hence maximize their returns of these investments to the country.
He said CoBAMS was committed to rolling out capacity building with the intention of starting a Masters in Public Investment Management. He called on the trainees to participate in the intermediary level training so that they too can become trainers. “As we embark on developing capacity in PIM, we need to look at forming an umbrella body which will help self-regulate, set and manage standards,” Prof. Hisali said.
The Principal thanked the World Bank for funding the PIM project and the Cambridge Resources International and the Ministry of Finance for partnering with CoBAMS.
The Principal Investigator of the project, Prof. Edward Bbaale also thanked the World Bank and all other partners for trusting the Centre with the training needs of the country.
Ms Rachel K. Sebudde a Senior Economist with the World Bank commended the government for its effort in improving management of public investments.
“As World Bank, representing Development partners, we do commend the various actions government is undertaking to improve the way public investments are managed in the country,” Ms Sebudde said.
The government has in recent years increased the amount of resources it allocates to capital investments. Despite the increase, the country still faces challenges of the quality of the infrastructure.
“If these constrained are removed, the country would no doubt accelerate economic growth and improve quality of life,” Ms Sebudde said.
She warned that it will be difficult to maximize returns from oil and gas investments if the quality of projects is poor.
According to the World Bank study, quality issues arise from the poor design of projects, delays in implementation, cost escalations, time-overruns, contract disputes, abandonment of projects, substandard quality of some completed projects, and rapid depreciation of public capital stock.
The World Bank Officer advised that to make the public resources yield higher returns, and increase and sustain higher rates of economic growth, the government must aggressively improve its investment management capacity, so that projects are well selected, well prepared, transparently tendered and delivered on time and within budget. It then also needs to maintain its existing and new assets, she added.
She reaffirmed the World Bank’s commitment to supporting Uganda’s development agenda. “As a Development Partner, we appreciate the commitment and zeal that the country continues to demonstrate in exploring alternative and more efficient models for development,” Ms Sebudde said.
According to Mr. Hannington Ashaba, a Commissioner in the Ministry of Finance, the government recognizes the need to improve public investment management and has been training its officers in this regard. A few were trained abroad but government sort to reduce the cost of training by establishing the Centre of Excellence for Public Investment Management at Makerere University. This he said will also allow for training of more public service officers.
Dr. Willy Kagarura, the Manager to the PIM Centre of Excellence said the University was committed to providing capacity building to the government. He applied to the World Bank to continue to support the Centre for at least 5 years as it strategizes on being self-sustaining and generating income.
The Public Investment Management Centre of Excellence
The centre was established following a study done by the World Bank. The diagnostic done in 2016 revealed that there was low return on investment. Some studies revealed that the country was losing 60% of the investments it made. To this end, the World Bank recommended the establishment of a PIM training centre. The centre offers capacity building in Public Investment management systems. The training offered by the Centre is at 3 levels.
- Basic training: It was recommended that this training be massive. It targets people working on government projects. This involves identifying projects, concept writing, profile writing, feasibility studies and uploading the same on the Integrated Bank of projects (IBP)
- Intermediary level: This brings in technics of appraising projects before they are selected to go into the public investment plan.
- Advanced Level: Professional training- MSc and PhD.
The Centre got seed funding from the World Bank, having commissioned the study, which revealed the gaps.
Objectives
- Capacity building in public Investment management
- Research in PIM related fields
- Advisory services
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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