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Makerere University-Prudential Assurance sign MoU

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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.

Business & Management

The Academia & Government Officials Identify Research & Data gaps in the Management of Natural Resources in Uganda

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Participants in a group photo after the opening session on 14th March 2024. EdD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.

Environmental economists and graduate students from Makerere University held a meeting with government officials to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda.

The two-day researchers’ training organized by EfD Uganda was held at Esella Country Hotel in Kampala, on 14th and 15th March 2024,

The Deputy Principal, College of Business and Management Sciences (CoBAMS) Dr. Yawe Bruno officially opening the workshop. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
The Deputy Principal, College of Business and Management Sciences (CoBAMS) Dr. Yawe Bruno officially opening the workshop.

Local Government (LG) representatives were brought on board to help understand policy research questions in the local government that researchers can leverage to generate evidence to inform policy implementation and improvement in service delivery and environmental protection in general. The District Natural Resources Officer for Wakiso, Rebecca Ssabaganzi, was the lead facilitator.

Rebecca Ssabaganzi presenting the status of Local Governments in the Management of Natural Resources. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Rebecca Ssabaganzi presenting the status of Local Governments in the Management of Natural Resources.

The national policymakers, on the other hand, presented policy, capacity, research, and data gaps that researchers can focus on to improve their work. Ronald Kaggwa from the National Planning Authority facilitated the training.

Dr. Ronald Kaggwa presenting on the national priorities. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Dr. Ronald Kaggwa presenting on the national priorities.

Center Director Edward Bbaale said the purpose of the workshop was to identify what natural resources and environmental issues are being pitched in National Development Plan (NDP) IV and how Uganda is transiting from NDP III to NDP IV to inform their research.

Prof. Edward Bbaale making his remarks during the opening session. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Prof. Edward Bbaale making his remarks during the opening session.

“This is a great opportunity for our researchers to have a deeper discussion with the local government and National Planning Authority on critical issues and that the government is focusing on so we can ensure that our research is policy-relevant,” said Edward Bbaale.

He urged the government to reduce taxes on renewable energy as a key tool to encourage the public to drop the use of biomass which has negative effects on the environment and human health.

Some of the participants engaged in a group discussion. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Some of the participants engaged in a group discussion.

“Transitioning from the dirty sources of energy to the cleaner sources of energy is a very expensive venture and it requires infrastructure investments.  We would like to hear about green financing and what the government is planning to do to raise the money,” he remarked.

Rebecca Ssabaganzi makes her presentation. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Rebecca Ssabaganzi makes her presentation.

From the Local Government presentation, Ms. Rebecca Ssabaganzi focused on the role of Local Government in protection of natural resources, the structures, challenges and capacity gaps for research. Ssabaganzi stressed the need to raise public awareness on the sustainable use of  the environment and conservation as  an obligation for everyone, the need for mindset change for the public to adopt alternative energy sources and investing in eco-tourism as well as the  regulation of  building substances and valuation as a basis for revenue assessments and best development use.

Rebecca Ssabaganzi responding to questions from participants. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Rebecca Ssabaganzi responding to questions from participants.

She  explained that poor management of water, environment, and natural resources coupled with the worsening effects of climate change have resulted in high exposure to hazards and disasters, with limited capacity for climate change adaptation and mitigation, low disaster risk planning and rampant degradation of the environment and natural resources caused by low enforcement capacity.

From the national planning perspective, Ronald Kaggwa highlighted the persistent ENR management challenges inherited from NDPI, II, III to IV.

Researchers and policy makers that convened at Esella Country Hotel. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Researchers and policy makers that convened at Esella Country Hotel.

These include deteriorating state of ENR, enforcement and compliance challenges, limited use of economic incentives and income poverty among the ENR-dependent populations. Kaggwa also reported that there is low value-addition to ENR, excessive reliance on the market prices to make major decisions and challenges on how to balance the benefits and real costs of natural resource conservation.

Kaggwa proposed some thematic areas for research to inform policy. These include reviewing policy, legal, and institutional frameworks for effective ENR governance and management; reviewing the effectiveness and efficiency of the program approach to ENR governance and the likely impacts of the rationalization of ENR institutions on performance;

A section of participants in a group discussion. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
A section of participants in a group discussion.

Other research areas proposed are coordination, regulation, and monitoring of ENR management at LG and national levels, exploring the feasibility of economic instruments for ENR management, and the public good and trans-boundary nature of ENRs and governance challenges.

Key takeaways from the workshop

From the presentations and group discussions, the meeting agreed on key thematic areas for research including valuation of existing resources, appropriate mix of policies, stocktaking of existing data and the role of decentralization in protecting the environment. Other proposed areas are climate financing and transitioning to a low-carbon economy, cost-benefit analysis for an energy transition  and climate change and its effects

One of the research fellows presenting after the group discussions. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
One of the research fellows presenting after the group discussions.

The meeting also resolved to strengthen collaborations between Makerere University‘s existing projects, government ministries, departments and agencies, development partners and international agencies, financial institutions, and civil society organizations.

EfD-Mak to prepare research proposals and tailored courses

Uganda’s IGE policy engagement specialist Peter Babyenda said the meeting identified the capacity gaps in Local Governments that the center can fill, by preparing tailored courses to address gaps. The courses would entail training Local Government workers in data collection, evaluation of natural resources, stakeholder engagement, mindset change, and feasibility studies

IGE engagement specialist Dr. Peter Babyenda speaking during the workshop. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
IGE engagement specialist Dr. Peter Babyenda speaking during the workshop.

For the researchers, the meeting informed them of where they are needed and their role at a national level.

“We are preparing our research proposals to have multidisciplinary research projects, which means, we need sociologists, accountants, statisticians for data collection, etc. but also, a partnership between academia and policymakers”, Peter Babyenda said.

Dr. Nicholas Kilimani wrapped up the workshop proceedings. EfD-Makerere University Center, Kampala Uganda, training to identify research and data gaps to address the persistent environmental and natural resources (ENR) challenges in Uganda, 14th to 15th March 2024, Esella Country Hotel.
Dr. Nicholas Kilimani wrapped up the workshop proceedings.

The center will build on key issues generated from the meeting.

Jane Anyango is the Communication Officer EfD Uganda

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Business & Management

Prudential, ACCA, EPRC award best CoBAMS students

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The Vice Chancellor-Prof. Barnabas Nawangwe, Principal CoBAMS-Prof. Eria Hisali, Dr. Felix Wamono and CEO of Prudential Assurance-Mr Tetteh Ayitevie with the top five Actuarial Science students of the 74th Graduation Ceremony. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

Makerere University in collaboration with three partner companies have recognized and awarded best performing business graduates of the 74th graduation who were conferred with bachelors and Masters in January.

The companies including Prudential Uganda, ACCA, and EPRC presented to graduates with cash prizes, mentorship and training opportunities in the companies.

The recognizing and awarding ceremony was held at the School of Business, Makerere University on March 12 from where 12 graduates from the College of Business and Management Sciences (CoBAMS) received their prizes.

While addressing the graduates and their parents, Prof Barnabas Nawangwe, the University Vice Chancellor, congratulated the awardees upon obtaining good degrees.

“It is very difficult to get a good Makerere degree. If you are being honoured you have got a first class, you must count yourself extremely clever and also blessed by God,” Prof Nawangwe said.

The VC said he has struggled to create a conducive learning environment for the students by restoring discipline among the students to connect them to the world.

“We have been trying hard to restore discipline and people didn’t know. So if you go anywhere in the world people know Makerere is a serious university and you will be considered favourably compared to other people.”

Prof. Barnabas Nawangwe addresses the graduates, their parents and guests. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

Makerere has maintained partnership with companies already thriving in the industry to help students get exposed to the field of their work and also get opportunities through graduate training to gain experience.

Prof Nawangwe has signed several memorandums of understanding over the years with those companies and the relationship have been so helpful especially for self-growth of Makerere products.

“Our partners are in the industry understand it better than we do. When they come and inspire you, they add to what we have done here to encourage you and give you more confidence that you can go out in the world and serve humanity and succeed,” the VC told graduates.

He encouraged students to look out for opportunities across the world.

“We are living in a very competitive world because currently you may find there are around 200,000 students in Uganda with degrees and yet jobs are very scarce.”

He recalled in 1970s, when he was a student at Makerere and they were not more than 2000 people studying at the time and it was a sure deal for all of them to get employed somewhere.

A group photo at the end of the award ceremony. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

He discouraged graduates against walking on the streets of Kampala looking for jobs and encouraged them to try out international opportunities and self-employment.

“The good thing the population in the rest of the world is going down. It is only in Africa where the population is going up. With the decrease in population, there are many countries where there is a big deficit of skilled workforce.”

Prof Eria Hisali, Principal COBAMS, pledged more support to this year’s academic giants and promised to provide them with all the necessary assistance they may need.

“We have quite a number of initiatives and when we call upon you to participate in some of them, please respond positively. We are still fully available to support you in any way possible,” Prof Hisali said.

Prof. Barnabas Nawangwe presents the EPRC Award to Mr. Sebuliba Jude as Prof. Eria Hisali and Ms. Fatumah Namubiru witness. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

The principal lauded the VC for his tireless efforts to partner with different companies through MOUs he signs every now and then.

“For any MOU that comes his way, Prof Nawangwe has been there for us to sign them on behalf of the university,” he said.

Prudential Assurance

 The CEO of Prudential Assurance, Mr Tetteh Ayitevie congratulated the graduands saying “your relentless pursuit of knowledge and your unwavering determination have set you apart as the best and brightest in their field.”

Mr. Tetteh revealed that with the support of their Support Scheme, the awardees are not only receiving financial assistance but also mentorship and internship opportunities that will propel them towards success in their future endeavours.

Prudential Uganda rewarded the top five Actuarial Science students with $500 each.

Mr Tetteh Ayitevie addresses the graduates, their parents and guests. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

Additionally, through the Prudential Actuarial Support Scheme (PASS), these students will receive scholarships fully covering their professional exam fees.

In total, Prudential Uganda has dedicated one hundred and thirty-five million shillings (UGX 135,000,000) to support the students.

The country Manager of ACCA Uganda, Ms Charlotte Kukunda, said while awarding the best student of Bachelor of Commerce, Mr ………………. And reminded the students of the exception that ACCA granted students of Commerce (Accounting). The students get 9 exceptions at ACCA level.

Ms Fatumah Namubiru from Economic Policy Research Centre (EPRC), congratulated the Sebuliba Jude, upon emerging the best Masters of Economics students and also called on the female students to strive hard to be among the best. Jude received a placement as a research fellow at EPRC and Shs1.5million. 

Best students

Jude Sebuliba, the best student in the Masters of Arts in Economics with CGPA of 4.95, said the conducive learning environment created space and time for them to read his books.

Prof. Barnabas Nawangwe, Prof. Eria Hisali and Mr Tetteh Ayitevie join the top five Actuarial Science students as they pose with a dummy cheque of UGX 135 million from the Prudential Actuarial Support Scheme (PASS) towards scholarships fully covering their professional exam fees. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

“I dedicated much of my time to books, perseverance, God and parents were all part of my journey up to this milestone I have reached today,” Sebuliba said.

His research was about the impact of remittances to inflation in Uganda and his findings revealed that there is a positive impact between inflation and remittances.

 “Many people go out but we don’t know the impact of the money they get to our economy.”

The best Master’s student now is eyeing a PhD if any opportunity avails and is currently blessed with a job at the Economic Research Policy Centre of Makerere University where he is employed as a researcher.

Derrick Amanya, Bachelor of Commerce (BCOM) graduate, scored a first class of CGPA 4.54 and attributes excellence to hard work and group discussions.

The research he conducted from Mbarara District was about ‘How sustainability can be adopted in furniture” He looked at ways to make furniture that has metallic components in an effort to reduce deforestation in the country.

“My research found out that if certain components of furniture are used on metallic components, it can reduce on depletion of forests to up to 60 percent,” Amanya’s findings revealed.

The fresh graduate is now enrolled for CPA and he is sitting his first exams in June, thanks to great partners, the ACCCA.

Ms. Charlotte Kukunda presents the ACCA Award to Mr. Prosper Lwamasaka as his parents, Prof. Barnabas Nawangwe, Prof. Eria Hisali and Dr. Eric Nzibonera witness. Prudential Assurance, ACCA Uganda and EPRC award ceremony for best performing business graduates, 12th March 2024, Conference Room, Room 2.2B, Level 2, School of Business, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

Anneliz Namuddu, B. Sc. Actuarial Science graduate, as well prioritized discussions after believing at University if you are not a part of any discussion group, you cannot understand the concepts.

“I always trusted God in addition to serious attention I gave to books and ensuring that she prepared for her exams in time not waiting for the last minute to panic.

Her research was about factors influencing expenditure among women in rural areas of Uganda. And used secondary data which she converted in to small variables that were convenient for her.

The research findings indicated the expenditure is mostly influenced by the sources of income women are getting and from the kind of family they are in.  Is it a single parent home or are they married.

“I thank Prudential for the scholarship they gave me to do the certification that confirms me to be a qualified actuary,” Namuddu said.

The best students B.sc Actuarial Science

  1.  Muhumuza Mark
  2. Kobugabe Michelle Audrey
  3. Uwera Ruth Michelle
  4. Bunjo Steven Hugh
  5. Namuddu Anneliz

Best students Bachelor of Commerce

  1. Lwamasaka Prosper
  2. Nanfuka Sheebah
  3. Amanya Derrick
  4. Birungi Mercy Olivia
  5. Kaganzi Devis
  6. Namubiru Phionak Rebecca

Best Master of Economics

  1. Sebuliba Jude

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Business & Management

CoBAMS partners with UMA to increase industrial research

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Prof. Eria Hisali, Mr. Deo JB Kayemba and other officials pose for a group photo on 27th February 2024. Makerere University College of Business and Mangement Sciences (CoBAMS)-Uganda Manufacturers Association (UMA) Industrial Research MoU Signing Ceremony, 27th February 2024, Nakawa, Kampala Uganda, East Africa.

Makerere University‘s College of Business and Management Sciences (CoBAMS) and the Uganda Manufacturers Association (UMA) have inked a Memorandum of Understanding (MoU) with the objective of bolstering industrial research efforts.

The collaboration aims to harness research capabilities to address challenges within Uganda’s manufacturing sector, thereby boosting its growth and competitiveness. Makerere University, in line with its strategic objectives, prioritizes forging strong partnerships and upholding a research-centric approach.

Prof. Eria Hisali and Mr. Deo JB Kayemba sign the MoU as other officials witness.  Makerere University College of Business and Mangement Sciences (CoBAMS)-Uganda Manufacturers Association (UMA) Industrial Research MoU Signing Ceremony, 27th February 2024, Nakawa, Kampala Uganda, East Africa.

At the MoU signing ceremony held at UMA on February 27, 2024, Mr. Deo JB Kayemba, the Chairman of UMA’s Board, referenced the significant progress witnessed in countries like India, Japan, and South Korea, attributing it to the integration of research in supporting industrial advancement. He emphasized the pivotal role of innovation in driving the manufacturing sector forward and underscored the necessity of collaboration in realizing research-led manufacturing.

Prof. Eria Hisali, the Principal of CoBAMS at Makerere University, expressed appreciation for the collaborative efforts and committed to operationalizing the MoU. He stressed the importance of enhancing graduates’ practical skills by involving industry experts in curriculum development and delivery, thus enriching students’ knowledge base and fostering skills development.

Prof. Eria Hisali and Mr. Deo JB Kayemba show off the signed MoU as another witnesses. Makerere University College of Business and Mangement Sciences (CoBAMS)-Uganda Manufacturers Association (UMA) Industrial Research MoU Signing Ceremony, 27th February 2024, Nakawa, Kampala Uganda, East Africa.

Additionally, Prof. Hisali highlighted the imperative to innovate in support of industry, manufacturing, and technology, aligning with the overarching objective of promoting locally manufactured goods and self-sufficiency. The partnership will encompass various activities, including joint research endeavors, publication of findings, policy paper writing, and engagement with relevant stakeholders.

Specific initiatives under the MoU include providing internship opportunities for UMA-selected students through Makerere University‘s internship programs, facilitating knowledge transfer and staff exchange programs, organizing joint seminars, workshops, and conferences aimed at skill development, and collaborating on curriculum review and development to align with industry needs.

Prof. Eria Hisali, Mr. Deo JB Kayemba and an UMA official chat after the ceremony. Makerere University College of Business and Mangement Sciences (CoBAMS)-Uganda Manufacturers Association (UMA) Industrial Research MoU Signing Ceremony, 27th February 2024, Nakawa, Kampala Uganda, East Africa.

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