Business & Management
Corporate Governance: A Strategy for Business Competitiveness
Renowned Corporate Governance Consultant Japheth Katto has advised businesses to ensure their entities are run on the principles of corporate governance if they are to grow and make profit.
Corporate Governance, he said, is concerned with holding the balance between economic and social goals as well as between individual and communal goals.
Quoting Sir Adrian Cadbury, Katto said the corporate governance framework exists to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society.
Mr. Katto was speaking during a public lecture, organized by the School of Business, Makerere University on Corporate Governance as a Strategy for Business Competitiveness held on April 5, 2023 in the Yusuf Lule Auditorium.
He said good corporate governance is the foundation of any successful business. “In business, it refers to the purpose, people, processes, practices, and policies used to make formal decisions and run the company.”
“Research has shown that better-governed firms have higher stock prices and investors are rushing to buy their shares” Mr. Katto said.
Corporate governance not only applies to big firms but also the small start-ups, Mr Katto shared.
“The high level of informality of most African Economies, which includes Uganda and the role of these businesses that operate informally (SME’s who employ 75% of Ugandans) significantly add to the economic growth of the economy but –
there are no formal ways to enforce and improve their corporate governance since they are not officially captured in the data. Uganda’s 1.1 million SME’s account for 80% of the country’s GDP and 90% of its private sector,” he said.
Mr. Katto shared that corporate governance has some pillars that all firms must abide by. These include;
- Transparency
- Accountability
- Fairness
- Responsibility
- Independence
- Ethical conduct
- Reputation and Reputational risk
All these pillars, Ambassador Damalie Ssali one of the panelists added, must be imbued in the employees of the organization. She underscored the importance of diversity among board members as well as employees. She said diversity will result in innovation among the employees and thus spur competitiveness.
“Your organization should have diversity of skills and gender. Research has shown that companies with gender diversity perform better than those that are male dominated” she added.
To become competitive, businesses were advised to 1. Establish and implement clear policies and procedures 2. Appoint a suitable board of directors (skills, ethics, independence) 3. Implement robust internal controls and trainings, and 4. Be accountable.
Once a company is competitive it stands to gain from access to loans, access to markets, strategic partnerships, talent retention, good will from the public, reporting and accountability and long term sustainability among others.
On the qualities of individuals that companies hire, Mr. Katto said, “We’re looking for three things, generally, in a person: intelligence, energy and integrity. And if they don’t have the last one, don’t even bother with the first two”.
Ms. Cathy Adengo, one of the panelists emphasized that people want to be associated with organizations that have good corporate governance because those will thrive. She advised the students to look to such firms when searching for jobs.
The public lecture was graced by the Vice Chancellor Prof. Barnabas Nawangwe who appreciated the keynote speaker for sparing time to share knowledge with staff, students and members of the public present. He encouraged the students to listen attentively as he too was delighted to listen to Mr. Katto and learn something new on corporate governance.
He thanked the School of Business for organizing the public lecture for it will benefit the students. “They will go out to lead the world better equipped,” he said.
The Vice Chancellor made reference to a newspaper article that cited the Mulwana Empire as being one of the few surviving family businesses in Uganda, which was attributed to its corporate governance. In reference to Makerere, he said the institution also survived the political turmoil of the 1980s due to good corporate governance.
The Dean School of Business, Prof. Godfrey Akileng who represented the Principal of the College of Business and Management Sciences (CoBAMS), Prof. Eria Hisali, also appreciated Mr. Katto and the organisers of the lecture. He challenged the students to ensure they learn something and utilize it to run or start their businesses.
“Corporate governance not only relates to private firms but can be used as a driver in SMEs and public institutions,” he said.
A delegation from the African Economic Research Consortium (AERC) today paid a courtesy call on the Vice Chancellor of Makerere University. The delegation was led by Prof. Victor Murinde, Executive Director of AERC.
The team was received by Prof. Tonny Oyana, who represented the Vice Chancellor at the meeting. Prof. Oyana expressed appreciation for AERC’s continued support to the School of Economics, and commended the longstanding partnership between Makerere University and AERC.
Drawing on his expertise in Information Systems, Prof. Oyana emphasized the importance of deep and strategic collaboration between institutions. He noted that, much like in Information Systems where components must be tightly coupled to function efficiently, partnerships in academia must be deeply integrated to yield meaningful impact.
The Dean of the School of Economics, Prof. Ibrahim Mike Okumu, who accompanied Prof. Murinde, also expressed his gratitude for AERC’s unwavering support. He highlighted several key areas of assistance including:
- Scholarships for Master’s and PhD fellows;
- Support for ICT infrastructure development; and
- Contributions toward the construction of the School of Economics building.
Prof. Okumu noted that these efforts have significantly enhanced the School’s academic and research capacity, and he looked forward to continued collaboration and deepened partnership between the two institutions.
During the meeting, Prof. Murinde shared AERC’s Strategic Plan 2025–2035, titled “Reinventing the AERC for Delivering Africa’s Economic Prosperity.” He explained that AERC is embarking on a comprehensive reform agenda designed to:
- Strengthen research excellence,
- Enhance policy impact, and
- Secure long-term institutional sustainability across Africa.
Following the meeting, the AERC delegation joined scholars, economists, and academics for a for and a meeting, further demonstrating AERC’s commitment to knowledge exchange and regional capacity building in economic research.
Business & Management
PIM Centre of Excellence Launches KCCA Training in Public Investment Management
May 19, 2025 |
The Public Investment Management Centre of Excellence (PIM CoE) at the College of Business and Management Sciences (CoBAMS), Makerere University, has launched a five-day training in the Essentials of Public Investment Management (PIM) for officials from the Kampala Capital City Authority (KCCA).
This specialized training marks a significant milestone—not only in advancing professional capacity within KCCA, but also in reinforcing strategic collaboration between academia, local government, and national planning institutions. The training was officially opened by Ms. Esther Ayebare, Assistant Commissioner of the Project Analysis and Public Investment Department (PAP), Ministry of Finance, Planning and Economic Development (MoFPED).
A Commitment to Professionalization
Speaking at the opening ceremony, Ms. Ayebare emphasized the importance of investing in PIM capacity as a cornerstone of Uganda’s development agenda. “The government is committed to building a pool of skilled professionals who can design, appraise, and manage viable public projects. This training is part of a broader strategy to ensure that public investments deliver real value for money,” she said.
She encouraged the participants to actively engage with the course content, especially the hands-on and practical components that simulate real-world project scenarios.
Strategic Investment by KCCA
In his remarks, Mr. Edson Masereka, Manager for Research and Business Development at KCCA, expressed gratitude to the PIM Centre of Excellence and MoFPED for facilitating the training. He noted that KCCA has over 30 projects currently in the pipeline and stressed the need to equip staff with the right skills to manage them effectively.
“This training is timely. It will strengthen our internal capacity to design, prepare, and execute public investments. We hope the quality and impact of our projects will improve significantly as a result,” he said.
A Unique Cohort with a Strong Message
Prof. Edward Bbaale, the Principal Investigator of the PIM Centre of Excellence, praised the training as both unique and transformative. “This is the first cohort fully sponsored by KCCA itself—a testament to the authority’s commitment to internal capacity building and professional excellence,” he said.
He also recognized the visionary partnership between Makerere University and MoFPED, which has made it possible to establish the PIM Centre of Excellence as a leading hub for training, research, and policy advisory in Uganda’s public investment space.
“Beyond training, we are also working on revising the Development Committee Guidelines, assessing public investment performance since NDP I, and producing knowledge to inform decision-making,” Prof. Bbaale noted.
The trainees will undertake three core PIM modules during the five-day session:
- Project Identification and Preparation
- Integrated Bank of Projects (IBP) and Execution
- Monitoring, Evaluation, and Impact Assessment, with a strong emphasis on climate, environmental, and social safeguards.
In the coming months, participants will have the opportunity to enroll in advanced modules on financial and economic appraisal, delivered in collaboration with Cambridge Resources International and Queen’s University (Canada), leading to a prestigious international certification.
Building a National Cadre of PIM Experts
The training reflects broader national efforts to build a robust and professional cadre of PIM practitioners capable of driving Uganda’s development goals through effective project management. Participants will receive joint certification from Makerere University and MoFPED, underscoring the academic and policy rigor of the programme.
Prof. Bbaale encouraged the participants to be active contributors in this journey:
“This workshop is just the beginning. You are the future champions of effective public investment. Engage fully, learn deeply, and take these skills back to your institutions to make a difference.”
The PIM CoE at Makerere University remains committed to providing high-quality capacity building, evidence-based research, and technical support that enhances Uganda’s ability to implement impactful public investment projects.
Business & Management
EfD Launches $30,000 Carnegie CECAP-funded Research Project on Household and SME Energy Efficiency in Uganda
Kampala, Uganda – May 15, 2025
The Environment for Development (EfD) initiative at Makerere University has launched a two-year research project aimed at studying energy demand and efficiency among Ugandan households and small and medium enterprises (SMEs). The project, supported by a $30,000 grant from the Carnegie Corporation under the CECAP program, officially kicked off with an inception workshop held at the EfD Mak conference room on Wednesday.
Dr. Peter Babyenda, a postdoctoral researcher and lead investigator on the project, said the study will focus on identifying the key drivers of energy consumption at the household and SME level, particularly within the manufacturing sector. “We are investigating what factors determine energy use—whether it’s charcoal, LPG, or electricity—and how that use can be made more efficient,” he said.
The research is being conducted under the mentorship of Prof. Edward Bbaale, Director of EfD-Mak, and is part of a larger initiative under the Makerere University Directorate of Research and Graduate Training led by Principal Investigator Prof. Buyinza Mukadasi who also serves as Acting Deputy Vice Chancellor (Academic Affairs)
The project aims to provide evidence-based policy and awareness messages to improve energy efficiency in Uganda, amid rising electricity costs and population growth. “The only sustainable way to address rising energy costs is through improved efficiency,” Dr. Babyenda emphasized.
The workshop brought together stakeholders from the Ministry of Energy and Mineral Development, energy engineers, economists, and researchers from institutions such as the Economic Policy Research Centre. Their input is expected to help refine the study tools and shape data collection strategies.
Dr. Babyenda noted that the team will now revise its research instruments based on feedback from the workshop, and submit the tools for ethical review by the CoBAMS Research Ethics Committee. Field data collection is slated to begin in early June.
The study, selected through a highly competitive process that saw only 25 projects funded, is expected to culminate in two peer-reviewed publications and a comprehensive report. Dissemination efforts will target both policymakers and end users, including the Ministry of Energy and relevant community stakeholders.
“This project is a milestone for us at EfD-Mak. We are excited to contribute research that has the potential to influence national energy policy,” Dr. Babyenda said.
Dean Calls for Deeper Stakeholder Engagement and Practical Insight
The Dean of the School of Economics at Makerere University, Assoc. Prof. Mike Ibrahim Okumu, called for greater alignment between academic research and practical stakeholder perspectives in energy studies.
Congratulating Dr. Peter Babyenda and his team for securing the $30,000 research grant, Prof. Ibrahim praised the initiative as a reflection of both academic rigor and practical relevance.
“My understanding of inception workshops is that they are meant to test whether your conceptualization aligns with stakeholder perspectives,” he said. “The quality of feedback you receive depends on the quality of stakeholders you engage.”
Prof. Ibrahim emphasized the importance of engaging engineers in the electricity sector, arguing that understanding operational mechanisms is essential for any discussion on energy efficiency. “Efficiency is not just an economic concept—it’s grounded in how energy systems work, and that’s an engineering issue,” he noted.
He encouraged the research team to use the stakeholder feedback to refine their research tools and conceptual framework. Drawing from personal experience, he recounted how a paper he published in the Policy Review Journal originated directly from stakeholder insights gained during a previous inception workshop.
The Dean also stressed the need for inclusive dissemination strategies. “For any research to have real impact, it must involve the end users not just at the point of output but from inception through to delivery,” he said. “If you don’t speak to the people who use the energy, you lose the entire purpose of the research.”
Prof. Ibrahim closed by extending gratitude to all participants and reaffirming the School of Economics’ support for the EfD center. “What we’ve earned today are not just discussions, but deep mental insights that will shape this project going forward,” he concluded.
Participants Urge Deeper Energy Awareness and Policy Integration
Key stakeholders from government and academia called for enhanced public awareness and integrated energy policies
Esther Fiona Atek, an Energy Officer from the Ministry of Energy and Mineral Development, underscored the ministry’s interest in the project findings. “While we know how much residences consume, we’re particularly interested in how that breaks down between rural and urban areas, and within specific uses like cooking and lighting,” Atek said. “The research will inform future policies to promote energy-efficient technologies both in households and SMEs.”
Atek emphasized the study’s potential to support the ministry’s mandate to drive energy efficiency in the residential, commercial, and agricultural sectors. She highlighted the need for disaggregated data that can guide technology promotion and tailor interventions to actual consumption patterns.
Meanwhile, Dr. Abubaker Matovu Wasswa, Head of the Department of Electrical and Computer Engineering at Makerere University, called for broader public education on energy types and uses. “People often limit solar energy to lighting, yet it can do so much more. We must understand the different forms of energy—biomass, petroleum, LPG, solar—and how each can be used efficiently,” he said.
Dr. Wasswa stressed that energy sustainability requires a cultural shift in how Ugandans perceive and utilize various energy sources. “If we don’t educate users on energy efficiency across all forms, we risk wasting valuable resources and missing out on long-term sustainability,” he warned.
The EfD-led research project aims to provide actionable data and recommendations to improve energy efficiency across Uganda. Fieldwork is expected to begin in June 2025, with findings set to influence national policy discussions and promote smarter energy use in households and manufacturing enterprises.
Jane Anyango is the Communication Officer EfD Uganda
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