General
MURBS Trustees Declare 12.34% Interest for FY 2022/2023
The Makerere University Retirements Benefits Scheme (MURBS) on 26th October 2023 declared an interest of 12.34% on members’ balances for the financial ended 30th June 2023. The declaration was made at the MURBS 13th Annual General Meeting (AGM) held on Thursday 26th October 2023 in the Yusuf Lule Central Teaching Facility Auditorium. The MURBS Fund value grew from UGX 299billion at the start of Financial Year 2022/2023 to UGX 352billion as at 30th June 2023. This growth resulted in a net return of UGX 42billion, which was distributed to members as interest.
The declaration was preceded by a presentation of the MURBS Performance for Financial Year 2022/2023 to members of the University Council and Management at a meeting held on Tuesday 24th October 2023 at the Telepresence Centre, Senate Building, Makerere University. The presentation was attended by the Chairperson of Council, Mrs. Lorna Magara represented by the Chairperson Finance, Planning, Administration and Investment Committee (FPAIC) of Council, Mr. Bruce Balaba Kabaasa, the Vice Chancellor, Prof. Barnabas Nawangwe represented by the University Secretary, Mr. Yusuf Kiranda, Acting Deputy Vice Chancellor (Finance and Administration), Prof. Winston Tumps Ireeeta, Director Quality Assurance, Dr. Cyprian Misinde, Acting Director Human Resources, Mr. Deus Tayari Mujuni and Acting Dean of Students, Mr. Peter Rivan Muhereza. The CEO Uganda Retirements Benefits Authority (URBRA), Mr. Martin A. Nsubuga was represented by his Head of Supervision, Mr. Lubega Rodgers.
During the Year, the Trustees operationalised the Trust Deed and Scheme Rules (TDSR) as amended on 30th May 2023. Overall, the amendments facilitated governance, policy, and operational changes and enhancements, further streamlining and strengthening the Scheme. Effective with the new TDSR, the Board composition changed from five (5) to seven (7) Trustees. As at 30 June 2023, the Board was composed of six (6) Trustees, pending appointment of the independent Trustee.
Changes in the Board of Trustees
During the year, the Board discharged one member and appointed three members. The changes involved the retirement of Mr. Wilber Grace Naigambi who completed his term on 31 March 2023 and he was replaced by Dr. Elizabeth Patricia Nansubuga as MUASA’s representative. In a special way, the Trustees recognise and appreciate the contribution of Mr. Wilber Grace Naigambi, who served on the Board of Trustees from 2016 to 2023. In addition, Dr. Deus Kamunyu Muhwezi and Mr. George Bamugemereire, who are Council representatives, joined the Board in May and June 2023 respectively.
Presentation of FY 2022/2023 Performance
Presenting the 2022/2023 performance on behalf of the Chairperson, Dr. Elizabeth Patricia Nansubuga, the Secretary Board of Trustees, Dr. Godwin Kakuba announced that on June 2021, MURBS became the first mandatory Employer-based Scheme in Uganda. Furthermore, he shared that the aforementioned TDSR amendment of 30th May 2023 that changed the Board of Trustees’ size from five to seven also introduced the “Midterm” access by members to 12% of their accrued benefits, provided they are at least 45 years old and have saved with the Scheme for at least ten years .
The Chairperson’s presentation nevertheless cautioned that whereas members were entitled to Midterm access of their funds, it had long-term effects on fund value and return on investment of their cummulative retirement benefits. For example, due to Midterm access in 2022/2023, sixteen Members’ savings shifted from the UGX 200-250million to the UGX 150-200million range, while five members shifted from the UGX 50-100million to the below UGX 50million range.
The shifts due to Midterm access notwithstanding, one members’ savings moved from the UGX 400-450million to the UGX 450-500million range, while three members joined the UGX 400-450million range. The largest number of members; 1,640 out of a total of 3,041 active accounts (53.9%) fall in the category of savings below UGX 50million, a slight improvement from 54.8% last year.
“In a period of five years the Scheme has moved from no one holding benefits above UGX 250million to having 270 members holding benefits above UGX 250million with five of them being above UGX 400million as of 30th June 2023… The Scheme strives to move more members from the lower bands to the upper bands by ensuring timely collection and prudent investment of their contributions” remarked Dr. Kakuba on behalf of the Chairperson.
Dr. Kakuba concluded the Chairperson’s presentation by thanking the University Council and Management for their cooperation and timely remittance of all members’ contributions to the fund. “We thank all the stakeholders who have worked with MURBS to ensure a successful Financial Year, in a special way, we thank you the sponsor for making time for this occasion.”
Responses to Chairperson’s presentation
Responding to the presentation, Mr. Bruce Balaba Kabaasa appreciated the Board for successfully sustaining the Scheme’s operations for the last thirteen years. He nevertheless urged the Trustees to consider a long and detailed strategic plan to serve as the blueprint for the Scheme Funds’ management and investment, so as to safeguard member benefits from challenges that may arise as the value appreciates.
“I am particularly happy that those of you who have been at the forefront of agitating for staff welfare are now very close to the management of MURBS”, he added in reference to Dr. Deus Kamunyu, former Makerere University Academic Staff Association (MUASA) Chairperson.
Mr. Kabaasa nevertheless took difference with the MURBS opinion that Midterm access to funds before retirement should be discouraged. He noted that from the sustainable development perspective, “you don’t compromise today because you are planning for the future.
“My view therefore, is that man or woman should be given an opportunity closer to retirement to start putting one leg into the waters to test how deep they are in order to be able to put in both legs later, well knowing the depth of the river or lake” he remarked. This he justified by noting that it is better for one to lose 12% of their retirement benefits to poorly researched investment now, than lose 100% at retirement when they have no chance for reprieve.
On this note, Chairperson FPAIC urged MURBS to step up its member education programmes on what works or doesn’t work for various investment vehicles they are likely to engage in. “You should be involved in making sure that our people have the required skill, the required mindset and the required understanding of the opportunities available within our economies and beyond.”
Delivering the Vice Chancellor’s remarks, Mr. Kiranda noted “the story of MURBS is simply one of the many good stories that will continue to stream out of Makerere year after year.” He added that “The Chairperson’s presentation of MURBS’ good performance for the year 2022/2023 is very much appreciated by the University Management for it encourages the employees of Makerere University to remain focused on their core mandate, confident that their retirement benefits are secure.”
He lauded the MURBS Board of Trustees for upholding professionalism and integrity, noting that the University Management has not received complaints concerning retirement benefits from any former employee of Makerere University over the last five years. The Vice Chancellor equally acknowledged the tremendous contribution by the Government of Uganda to a thriving sector by paying salaries on time, contributing to retirement benefits and creating an enabling environment for Schemes and their service providers to invest member funds.
On the subject of Midterm access, Mr. Kiranda re-echoed the Chairperson Council’s call to invest more in training members on how best to invest their retirement benefits. “Chairperson (of MURBS Board of Trustees), Management committed to work with you to do further sensitization and that commitment is still open.”
On behalf of the CEO URBRA, Mr. Lubega commended the MURBS Board for always addressing matters raised by the regulator during onsite inspections. He noted that the retirement benefits sector growth over the last ten years has not been by coincidence, but rather due to strengthened supervision. According to the URBRA website, Uganda currently has UGX 20.56trillion worth of assets under management in the retirement benefits sector.
“I am happy to communicate that Makerere University Retirement Benefits Scheme is one of those schemes that have really implemented these regulations of retirement benefits… the controls put in place by this Scheme can actually show you that they are moving in the right direction so thank you so much Board” commended Mr. Lubega.
Delivering the closing remarks at the presentation, Mr. Bamugemereire thanked all members and service providers for attending the event, reminding all present that planning for retirement starts the day one is employed. As a Trustee, he appreciated the lengths that URBRA goes through to ensure that Trustees are well trained and equipped to perform their duties. “I want to inspire you with confidence that the Scheme is in safe hands.”
Kampala – Braving the morning downpour, participants started gathering as early as 5:00 AM. University roads were awash with green and gold kits clad by thousands of runners who gathered at the Hill to participate in the 6th edition of the Makerere Marathon that took place on September 27 2026.
Attendance was representative, with students, alumni, corporate teams and distinguished guests present to run under the featured race categories including the 5km, 10km, 21km, and 42km, alongside a 3km wheelchair race. These options gave persons of different abilities and fitness levels the opportunity to take part.
All races were officially flagged off at the Makerere Main Building parking lot by various dignitaries from Makerere, and partnering institutions led by the Chief Runner, the Speaker of Parliament Rt. Hon. Jacob Marksons Oboth. He was joined by the Chancellor of Makerere University and Second Deputy Prime Minister, Hon. Dr. Crispus Walter Kiyonga.
The other dignitaries that accompanied the Speaker included; Dr Lorna Magara the Chairperson of Makerere University Council, Mr. Mark Anthony Muyobo CEO NCBA Bank Uganda, Mr. Phrase Lubega Managing Director of MTN Mobile Money (U) Limited, and Dr Maggie Kigozi, the Board Chairperson of the Makerere University Endowment Fund (MakEF). Representatives from partner institutions and sponsors for this year’s Marathon were also present to witness the lively flag-off ceremony.
Welcoming the dignitaries who convened in the Vice Chancellor (VC)’s Boardroom, Professor Barnabas Nawangwe echoed Makerere University‘s commitment and deep appreciation for the high-level government and private sector support received during the Marathon.
He reiterated that the institution feels privileged to host the Speaker of Parliament and the Chancellor, who also serves as the Deputy Prime Minister, thanking them for their dedication to flagging off the runners despite the heavy downpour.
The same dedication was on full display throughout all race categories up to the finish line. Large crowds lined the university road sides, cheering wildly, blowing trumpets, and waving flags as the runners made their final sprint. Tired but smiling runners crossed the finish line one after the other, raising their hands in victory.
Impact of the Mak Marathon on Disability Support Centre
The Marathon serves as more than just a sports activity, it comes in as a conduit for institutional progress and student empowerment.
During the Speaker Rt. Hon. Oboth’s guided tour of the Disability Support Centre, the Manager, Ms. Elizabeth Rwabu acknowledged that so far, proceeds from the Marathon have directly transformed their services.
She elaborated, “the Makerere Marathon has been the primary driver of our growth as a centre, allowing us to support approximately one hundred and fifty-five students who rely on our services.”
The highlight of the delegation of distinguished guests and runners visit was a guided tour of the Center’s facilities, where technologies so far secured were displayed and existing as well as future needs were put forth.
She pointed out an all-in-one printer, explaining, “this printer is special because it has regular print. We also use it for large print… and scanning.”
She highlighted the machine used for tactile learning, saying, “we have an embosser here. And when students have their soft copy and hard copy notes, they bring them to the center, and we transcribe them to braille format.”
She also described the emergency solution for mobility, stating, “we also procured electric wheelchairs, which students with disabilities can actually borrow and use.”
Among students who added their voice to Ms. Rwabu’s was Ms. Catherine Nakibuuka, Chairperson of the Makerere University Disability Students Association. She is a student with visual impairment pursuing a Bachelor of Laws (LLB) who volunteered to explain to the Speaker how important some of the machines current in use are;
1. Eye Magnifier – This is a complex machine used to magnify small prints. It assists students who have visual impairments and rely on large print to read.
2. Focus Blue 40 – This is a modern device used for taking notes. It replaces older, large, and noisy Braille machines. It is portable enough to fit in a bag, making it suitable for use in meetings or courtrooms. Additionally, it can connect to a computer to display the Braille information on a screen, allowing sighted individuals to see what the user is reading.
Ms. Nakibuuka expressed deep gratitude for the support received through the Endowment Fund, Makerere University, and the organizers of the Marathon.
She stated, “We love these things,” noting that the Makerere Marathon’s goal to support the center makes education more inclusive.
The sharing by staff and students at the centre moved Dr Maggie Kigozi, who in turn appreciated them noting that “I’m glad to hear we are being useful as the Makerere Endowment Fund” and pledged that the Fund “will continue to work with the centre until they achieve more.”
Institutional Vision
The Chairperson of the Makerere University Council Dr. Lorna Magara acknowledged that the current Student with Disability Support Centre space may not be enough for the entire university.
In the spirit of remedying this, she shared that, “one of our goals is to have these centers in every other department of the university.”
“If we can have four or five or even maybe in every Hall of Residence, a smaller unit like this, then students with disabilities don’t have to walk long distances, that’s our target,” Dr. Magara explained.
Rt. Hon. Oboth Commends Makerere for the Marathon and Inclusivity
The Speaker of Parliament, Rt. Hon. Jacob Marksons Oboth thanked the leadership for the Marathon, stating, “we want to thank the leadership of this university for innovative leadership that has brought the sixth Makerere Marathon to fruition.” He added that it is “gaining traction and momentum” and is “going a long way in creating awareness for persons with disability and its other yearly themes.”
While touring the Disability Centre at the Frank Kalimuzo Central Teaching Facility, Rt. Hon. Oboth addressed the students with disabilities, and emphasised a distinction between sympathy and compassion, noting, “what the students with disability need is not our sympathy. you need our compassion. You need the support. Sympathy will not help because it varies, but compassion remains.”
Regarding Parliamentary support, the Speaker made an individual contribution and also pledged, “as Parliament of Uganda, we are here to support the cause.”
He specifically invited the University to partner with Parliament for future events, saying, “we want to further pledge that for the next Marathon, please work with us through the Clerk of Parliament, so that we can take center stage.”
On a lighter note, he encouraged the students with disability to persevere, remarking, “after all, Makerere University is built on a hill, so every day you climb the hill, you are breaking a barrier. So take those barriers as a hill you are breaking.”
Makerere Marathon from a Student with Disability’s Perspective
Nalumansi Sharon, a student with disability in her third-year pursuing a Bachelor of Applied Psychology secured first place in the 3-kilometer wheelchair race. Beyond her athletic success, Sharon is a passionate advocate for fellow students with disabilities.
In an interview with Makerere Public Relations team, Sharon confessed that her personal motivation to participate in this event was the appreciation of challenges faced by persons with disabilities and desire to contribute to causes that support her peers.
“It feels good to be part of this mobilisation because I also have a disability, and I feel good if I do something that will help my other colleagues,” Sharon confessed.
She added that Makerere University‘s hilly terrain makes mobility difficult but with resilience, students with disability can overcome. She urged donors to contribute toward electric wheelchairs, which would significantly improve students’ ability to study and navigate campus.
Sharon therefore appreciated the Makerere University Endowment Fund for bringing together sponsors and the general public to raise funds for the betterment lives of students with disability at Makerere.
As the conversation deepened, Sharon praised the Makerere Disability Support Center for providing an environment where students with disability can complete coursework, receive guidance, and access printing services, allowing them to focus on their studies without unnecessary distractions.
She concluded by praying that God blesses all who pool their resources for the good of Persons with Disability.
Sponsors’ Inspiration to partner and support Mak Students with Disability
Speaking at the launch on July 1, 2026, Mr. Mark Muyobo, the Chief Executive Officer of NCBA, the Platinum Sponsor of the Makerere Marathon, highlighted that the partnership reflects a shared belief in the power of education to shape the future.
He said “our partnership with Makerere University is founded on a shared conviction that education remains one of the greatest investments any nation can make. For generations, Makerere has produced leaders, innovators and professionals who continue to shape Uganda and Africa. Supporting its future is an investment in our country’s future.”
In an interview, the Managing Director Mr. Phrase Ronald Lubega emphasized that MTN Mobile Money is driven by the belief that every Ugandan deserves the benefit of a modern quality of life.
He stated that MTN aims to positively impact communities within Uganda, ensuring they are healthy, supported, and progressing. By focusing on these areas, the company believes they help communities serve the country more effectively.
Beyond their core mobile money services, Lubega highlights the importance of connecting people through initiatives like sports, which help individuals integrate and network. He explained that these connections are essential for innovation and moving forward.
Organised through the Makerere University Endowment Fund (MAKEF) together with partners, this 6th edition will equip Makerere University’s Disability Support Centre and provide students with disabilities with assistive equipment that enables them to read, type, and hear university assignments and participate more fully in academic life.
This initiative reflects Makerere’s commitment to ensuring that disability does not become a barrier to accessing quality university education.
Photography by Benite Uwase, Public Relations Office, Makerere University
View Flickr Album: https://flic.kr/s/aHBqjD68fW
During the afternoon of September 21, 2026, Makerere University played host to regional discussions as students, academics, and government officials gathered to commemorate the International Day of Peace under the theme “Investing in Regional Peace and Trade for Shared Prosperity”.
The event organised by the Makerere University 92nd Guild Security Ministry in partnership with the Global Peace Guild, served as the official launch of the East African Peace and Trade Law Moot Court Competition. The idea was conceived as an annual event where the youth across East Africa will gather to deliberate on the nexus between regional peace and trade in fostering regional integration.
Acting Vice Chancellor (VC) of Makerere University Prof. Anthony Muwagga Mugagga graced the event, welcomed the distinguished guests and set a reflective tone for the day.
Reminiscing about his old days the VC noted, “lecturers were the ones who used to come and talk about politics, economics, and law but somehow, somewhere, things never went well”. He appreciated the Students’ Guild, and all who were involved in organising the celebration and launch for a good job done.
Prof. Mugagga further encouraged students to look beyond the classroom, urging them to engage in critical debates in different sectors while emphasising that peace is a prerequisite for all development.
People anchor Trade – Keynote address
Representing the guest of honor who was the Minister of State for East African Community Affairs Hon. James Magode Ikuya, Dr. Andrew Musiime – Commissioner for Political Affairs, delivered a keynote address.
His entry was that you cannot talk about trade and not talk about people. Trade is done by people, and therefore as a Ministry, they facilitate free movement of people.
Dr. Musiime provided a comprehensive breakdown of the East African Community (EAC) as an intergovernmental organisation.
“So it is an intergovernmental organisation. Therefore, the governments remain with their constitution, the governments remain with their sovereignty, the governments remain with their national boundaries, the governments remain with their national laws, Musiime explained.”
He mentioned that the East African Community is anchored on the four pillars for integration that is the Customs Union, the Common Market, the Political Federation and Monetary Union.
Dr. Musiime equally challenged the students to move beyond theory, urging them to research the EAC treaty and actively participate in regional integration.
In a gesture of togetherness, he told the distinguished guests that the Ministry operates an open door policy for students and those interested in engaging can apply for opportunities across the Ministry’s various departments.
From UPE to the Halls of Parliament
The event also featured inspiring remarks from the National Female Youth Member of Parliament, Hon. Mercy Kanyesigye. Reflecting on her own journey from Universal Primary Education (UPE) to the halls of Parliament, she delivered a powerful message on peace and security.
In agreement with Prof. Muggaga, she linked the day’s theme to the practical realities of trade, noting that sustainable trade can not exist without peace.
“This moot competition is therefore not just academic exercise. It’s a training ground for the next generation of East African traders, lawyers, negotiators, judges, policy makers who will defend the spirit of our East African common market and our custom union”, Kanyesigye told the attendees.
92nd Guild Calls for Embracing Dialogue
Hon. Denis Mabirizi, the Minister of Security for the Makerere University 92nd Guild, underscored the event’s purpose by highlighting that peace is the foundation for justice, opportunity, and cooperation. He then called upon the student community to reject violence and intolerance, urging them to use dialogue and established leadership structures to address their concerns.
Mabirizi also emphasized that universities are not just centers of academic excellence, but places where the leaders of tomorrow are shaped.
“Universities are not only centers of academic excellence, they are also places where future leaders are shaped. The conversations we have, the values we promote, and the decisions we make today will influence the kind of society we create tomorrow. Peace begins with each one of us, Mabirizi noted.”
The Global Peace Guild Initiative
Mr. Joseph Micheal Tenywa, the founder and President of the Global Peace Guild, shared the vision behind the organization. He explained that the Global Peace Guild was born out of a desire to involve young people in the promotion of peace, trade, and regional integration.
“Global Peace Guild is an initiative born out of a desire to have young people get involved into the promotion of peace, trade, and regional integration.”
He reminded the audience that regional integration would only become a reality when young people actively participate in the market and hold policy makers accountable.
“As we commemorate the International Day of Peace, it’s an invitation for young people to get involved, not only in ensuring that there is no violence, but that we also put in place the conditions that take our strength, and these are our economic provisions, we call it trade.”
The launch of the East African Peace and Trade Law Moot Court Competition marks a significant milestone for the student community as it brings together academic rigor with a focus on regional policy.
International Day of Peace is observed globally on September 21, 2026, under the unified United Nations theme: “Invest in Peace – For Everyone, Everywhere, Every Day”. The day emphasizes that achieving lasting peace requires continuous local action, shared civic responsibility, and strategic conflict mitigation to ensure long-term regional development.
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