The Vice Chancellor, Prof. Barnabas Nwangwe (Right) shakes hands with Mr. Tetteh Ayitevie, the CEO of Prudential Assurance after the MoU signing on 21st October 2022 at Makerere University.
Makerere University and Prudential Assurance Uganda on October 21th, 2022 signed a partnership to establish the “Prudential Actuarial Support Scheme” (PASS) at the college of Business and Management Sciences.
The Memorandum of Understanding was signed by Vice Chancellor Prof. Barnabas Nawangwe and Mr Tetteh Ayitevie, the CEO of Prudential Assurance.
This memorandum of understanding looks at the establishment of a scheme that looks to promote development of actuarial capacity through rewarding excellent students in actuarial science as well as supporting top graduate students with mentorship, internship opportunities and financial assistance to become certified actuaries at the College of Business and Management sciences (CoBAMS).
Each year one top student from Makerere University will be offered a one-year apprenticeship at Prudential and the top five students of Actuarial Science will each be rewarded with USD 500 upon graduation. Prudential will also cover the cost of all examinations written by the students.
Professor Eria Hisali the Principal College of Business and Management Sciences which is the beneficiary college highlighted that it is such another important day for the university for yet again to partner with prudential a few days after ACCA Global to boost training in the Bachelors of Commerce and Actuarial Sciences.
“The Choice of partnering with Prudential and ACCA Global speak to an initiative of quality assurance and our strategic focus set in place by CoBAMS to ensure standard and professionalism for our students”. Said Professor Hisali who thanked Prudential Assurance Uganda for always thinking about Makerere University.
Speaking during the launch, Mr. Tetteh Ayitevie, CEO- Prudential said “As a business, promoting professionalism within the industry is important. This program seeks to pave the path for graduates in actuarial science to sign up for professional affiliate programs as a way of deepening their knowledge of insurance from a business perspective”.
Mr. Ayitevie added that by this partnership, a seed of transformation in the economic development of Uganda has been sown since the country is on the move evident by the steadily increasing uptake of Insurance as reported by the Insurance regulatory Authority (IRA) of Uganda.
Mr. Ivan Kilameri who represented the Chief Executive Director Insurance Regulatory Authority Uganda Al-Hajji Kaddunabi Lubega, said the PASS program is a timely endeavor, coming at a time when the insurance industry is noticing a rise in the demand for insurance financial services.
“Insurance is a vehicle through which people cultivate their financial security and cultivate their wealth and largely hinged on actuarial science. This program is timely and will go a long way in increasing the number of certified actuaries in the industry,” concluded Mr. Kilameri.
Professor Barnabas Nawangwe the Vice Chancellor Makerere University, thanked Prudential for the initiative that will go a long way in making certification more attractive to students highlighting how tremendously Makerere has impacted the world in every discipline to an extent that every country in the world at least has a product from the “Ivory Tower”.
Prof Nawangwe added that considering the experience Prudential has in insurance, he is convinced beyond measure that it will guide and mentor not only Makerere University students but also staff to improve their lives and careers at large.
The Prudential Actuarial Support Scheme (PASS) is a deliberate move by Prudential to contribute to the growth of Insurance Industry in Uganda and ensure that the sector has required resources to develop products that meet the needs of the customers.
This similar program by prudential is also run in Kenya and Ghana since 2014 and 2015 respectively and very intentional that due to this program, at least 25 actuarial students will be supported by 2027.
The training, held from September 23rd to 26th, 2025 at the College of Business and Management Sciences, aimed at strengthening the capacity of government officials to effectively identify, prepare, and implement public projects.
The closing ceremony was officiated by Ms. Belinda Bisamaza, who represented the Permanent Secretary/Secretary to the Treasury (PS/ST). In her remarks, Ms. Bisamaza commended participants for their commitment, noting that the training had offered a solid foundation in the entire PIM cycle — from project conceptualization and profiling, through monitoring and evaluation (M&E), to the use of the Integrated Bank of Projects (IBP), Environmental and Social Risk Management, and Public-Private Partnerships (PPPs).
Prof. Eria Hisali
“With these skills, you can contribute meaningfully to improving the quality of proposals submitted to the IBP, ensure better risk management, and enhance implementation through robust monitoring frameworks,” she said, adding that participants were now better prepared for advanced modules on financial appraisal, risk analysis, and stakeholder engagement.
Representing the PIM Centre, Prof. Eria Hisali highlighted the need for well-prepared projects that directly contribute to economic growth. “We must move away from the practice of developing projects only when funding is required. Instead, we should create a strong bank of quality projects from which government can easily draw,” he said.
Training participants in session.
The Manager of the PIM Centre, Dr. John Sseruyange, expressed gratitude to the participants and trainers for their dedication. He noted that the facilitators were drawn from Makerere University, the National Planning Authority (NPA), and the Ministry of Finance, Planning and Economic Development (MoFPED). Dr. Sseruyange also revealed that the Centre would be rolling out further in-depth training modules and creating opportunities for alumni to engage in consultancy and research work. The PIM Centre hosts the training as part of broader efforts by Makerere University, MoFPED, and NPA to strengthen Uganda’s public investment management systems, ensuring value for money, improved service delivery, and sustainable economic development.
Thirty-one government officers from Ministries, Departments, and Agencies (MDAs) have successfully completed a two-week intensive training in the Certificate of Financial Implications (CFI) – Integrated Regulatory Cost-Benefit Analysis. The certification ceremony was held at the Pearl on the Nile Hotel, Jinja, marking another milestone in Uganda’s efforts to institutionalize evidence-based and fiscally responsible policymaking.
The training, delivered by the Makerere University Public Investment Management (PIM) Centre of Excellence in partnership with the Ministry of Finance, Planning and Economic Development (MoFPED), and National Planning Authority equipped participants with practical skills to evaluate policy and legislative proposals for their financial, economic, and social implications.
Mr. Paul Mwanja.
Speaking at the closing ceremony, Mr. Paul Mwanja, Commissioner for Infrastructure & Social Services at MoFPED, who represented the Permanent Secretary, commended the officers for their commitment at a time when government institutions are finalizing the Auditor General’s audits, implementing the FY2025/26 budget, rolling out the National Development Plan IV’s tenfold growth strategy, and preparing for the 2026 General Elections.
“Your participation affirms a collective commitment across Government to strengthen the quality, transparency, and credibility of public policymaking in Uganda,” Mr. Mwanja said. He urged graduates to return to their institutions as champions of reform, share their knowledge with colleagues, and drive the change needed in Public Finance Management. He also announced that the next cohort of the training will take place in January 2026.
Prof. Ibrahim Mike Okumu.
Prof. Ibrahim Mike Okumu, Dean of the School of Economics at Makerere University, delivered the graduation address, highlighting the certificate’s importance in addressing Uganda’s triple challenge of scale, scarcity, and speed.
“This program does something unique. It teaches you not only to ask whether a policy or project is beneficial, but also whether it is affordable and resilient under real fiscal constraints,” Prof. Okumu noted. He challenged graduates to apply their skills at project, portfolio, and policy levels—ensuring value for money and enhancing public trust in government spending.
Participants make a group presentation.
He further emphasized that Uganda’s pioneering approach to integrated CFI-CBA positions the country as a leader in Africa and beyond: “You, Uganda’s first CFI-CBA graduates, are now part of a global brain trust. Your work will speak to investors, parliaments, development partners, and above all, the Ugandan people.”
Dr. John Sseruyange, Manager of the PIM Centre of Excellence, expressed appreciation to participants for their active engagement throughout the training and thanked MoFPED and the faculty drawn from Makerere University, the National Planning Authority, Ministry of Finance, and the Ministry of Energy for their technical support.
Dr. John Sseruyange.
The Certificate of Financial Implications – Integrated Regulatory Cost-Benefit Analysis was introduced following the Revised Guidelines for Financial Clearance, effective July 1, 2025. The guidelines require MDAs to prepare their own financial implications statements, subject to rigorous cost-benefit analysis, thereby strengthening linkages between fiscal responsibility and regulatory impact assessments.
With the successful completion of the second cohort, Uganda is steadily building a critical mass of professionals capable of embedding cost-benefit thinking across government, ensuring every shilling delivers maximum impact for citizens.
A female participant receives her certificate.A male participant receives his certificate.
The Public Investment Management Centre of Excellence (PIM CoE) at Makerere University held its Steering Committee meeting on 4th September 2025 at Mestil Hotel in Kampala. The session, attended by all members, focused on reviewing progress, reflecting on achievements from the past financial year, and charting the way forward for the Centre.
About the PIM Centre of Excellence
The PIM CoE was established in March 2022 at Makerere University’s College of Business and Management Sciences (CoBAMS), in partnership with the Ministry of Finance, Planning and Economic Development (MoFPED). Its purpose is to strengthen Uganda’s public investment management system through training, research, and advisory services.
The Steering Committee plays a critical role in oversight, review, coordination, and advisory functions, guiding the Centre’s work and ensuring that public investment processes align with national development priorities.
Dr. Joseph Muvawala.
Highlights from the Meeting
Speaking at the meeting, Dr. Joseph Muvawala, the Executive Director of the National Planning Authority, praised the October 2024 Annual PIM Conference for expanding perspectives on project design and delivery. He emphasized the importance of shifting from theory to practice in training, advocating for students and officials to engage with real-world projects. He also underscored the Centre’s new autonomy—transitioning from a subvention to a vote—which gives it greater independence but also demands stronger financial accountability. Dr. Muvawala further called for a permanent physical home for the Centre, noting that sufficient resources are available to make this possible and that negotiations with government are underway.
Mr. Ashaba Hannington, Director Budget at MoFPED, shared key achievements from the 2024/25 financial year. He noted that the Annual PIM Conference, organised jointly by MoFPED and the Centre, provided a vital platform for stakeholders to reflect on progress in public investment management.
Steering Committee Members and part of the Secretariat at the meeting.
Mr. Ashaba reaffirmed MoFPED’s commitment to working closely with the Centre to strengthen Uganda’s public investment capacity.
Prof. Eria Hisali (Left) and Mr. Hannington Ashaba (Right).
Prof. Eria Hisali, Co–Principal Investigator of the PIM CoE, outlined strategies to increase the Centre’s vibrancy and impact. He emphasized direct project engagement, advisory services, and peer reviews as ways to bridge the gap between theory and practice. Looking ahead, he revealed plans for a Master’s program in Economic and Investment Modelling, a Training of Trainers (ToT) initiative, and deeper practical capacity-building efforts.
Prof. Hisali also noted several successful trainings from the past year, including:
46 staff from MDAs trained in Essentials of PIM.
59 participants across two cohorts trained in Financial Appraisal and Risk Analysis.
25 participants trained in Economic Appraisal and Stakeholder Analysis.
He proposed the introduction of a “trailer feasibility test” to evaluate whether completed projects deliver benefits as projected and to address optimism bias in project planning.
Dr. John Sseruyange (Centre) with Prof. Tonny Oyana (Left) and Ms. Alice Nakimbugwe (Right).
Dr. John Seruyange, Manager of the PIM CoE, highlighted the Centre’s growing regional footprint. Beyond Uganda, six central government officers from Somalia have been trained in Infrastructure Asset Management, generating further interest in advanced training from Somalia, Zimbabwe, and Somaliland. To position itself as a regional hub, the Centre is preparing a prospectus to market its courses across Africa and beyond.
Why It Matters
The Steering Committee reaffirmed its commitment to ensuring that the PIM CoE remains a leading think tank and capacity-building hub for government and regional partners. By improving the appraisal, financing, and implementation of public projects, the Centre is strengthening accountability, enhancing service delivery, and contributing to Uganda’s broader development goals.