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.”
On 20th January 2025, the blazing afternoon sun was temporarily obscured by cloud cover as a convoy complete with VVIP security detail quietly made its way to the Main Building. As the convoy came to a stop at the Main Building’s Eastern staircase, all eyes were peeled to see who this VVIP was. As she emerged, there was no fanfare whatsoever as she proceeded to pleasantly greet the welcoming party. Princess Zahra Aga Khan, graceful by all standards, had arrived at Makerere University, an institution fondly talked about by her father His Late Highness Prince Karim Aga Khan IV.
It was indeed humbling that Princess Zahra Aga Khan, a Member of the Board of Directors of the Aga Khan Development Network (AKDN) and Trustee of the Aga Khan University (AKU) could include Makerere University on her itinerary. She had earlier on the same day paid a courtesy call on the President H.E. Yoweri Kaguta Museveni at State House Nakasero, and presided over the graduation of 120 students of the Aga Khan University-Kampala.
Princess Zahra who was received by the Acting Vice Chancellor, Prof. Buyinza Mukadasi and the Dean Makerere University School of Public Health (MakSPH), Prof. Rhoda Wanyenze was thankful for the warm reception and Makerere’s unwavering legacy.
“My whole life, my father always told me that Makerere was the best University in Africa,” relayed Princess Zahra, before adding “And my whole life he told me how sad it was that tertiary level degrees had been de-funded and what fragility that bred in these countries.” She went on to explain that her father’s philosophy was that if a country cannot train its upper degrees, it cannot build a free, fair and successful economy.
Princess Zahra nevertheless expressed how glad she was to see that Makerere still remains a beacon of higher education, and that the Main Building that was gutted by fire was reconstructed to perfection. “So to come here and see it looking so amazing and beautiful is really good.”
She confessed that her itinerary, though involving many hops to preside over graduations in Kenya, Tanzania and finally Pakistan, was testimony of how much Aga Khan Institutions had evolved over the past twenty years. Princess Zahra explained that partnerships with Makerere and other universities, especially in the aftermath of events such as CoVID-19, were crucial in helping Aga Khan Institutions to adjust. “An institution can become far stronger and more resilient,” she explained.
In his welcome remarks, Prof. Buyinza thanked Princess Zahra for including Makerere on her eventful itinerary. “We are more than a century old and have greatly impacted the development and economy of this country, not on our own, but with the big network of our partners in many respects. Your coming reinforces the resolve that we must work together for the good of humanity.”
The Acting Vice Chancellor equally welcomed members of Princess Zahra’s delegation who included; her daughter Sarah Boyden, Mr. Zakir Mahmood-Chairman Board of Trustees AKU, Mr. Amin Mawji, OBE-Trustee AKDN, Dr. Sulaiman Shahabuddin-President and Vice Chancellor AKU, Dr. Tania Bubela-Provost and Vice President Academic AKU, Zeenat Shahabuddin-Regional CEO for Aga Khan Health Services (AKHS) in East Africa, and Joseph Mwizerwa-Associate Vice Provost AKU-Uganda.
Contributing to the day’s discussion, Dr. Sulaiman Shahabuddin the President and Vice Chancellor AKU who has been in Kampala for the last twenty years, admitted that the new campus in Nakawa heralds a new era of growth as they commence student activities in June 2025.
“Makerere has been and is a distinguished University in Africa. We look forward to engaging and discussing how best we can come up with programmes that can benefit Uganda and Ugandans” he remarked.
As a rejoinder, Prof. Rhoda Wanyenze admitted that AKU’s and Makerere’s academic programmes present a number of potential synergies both in training and research. “Cancer clinical care and research is a big issue for us here; the burden is growing and we need to do more work to be able to characterize exposures and what it is that’s driving it.”
Other areas singled out in the discussion as potential for collaboration included; the environment, climate change and its linkage with health and other issues, and harnessing of the potential Electronic Medical Records (EMR). Makerere University currently partners with the Ministry of Health to roll out EMR systems nationwide, so as to optimize health service delivery in line with the Uganda Vision 2040.
“We have already done quite a number of facilities across the country for HIV, probably more than 1,000, but right now we are moving towards having an integrated electronic system for all care, the interoperability of multiple systems that exist, and being able to scale that up” complemented Prof. Wanyenze.
Prof. Buyinza who brought the lively discussion to a close concurred that a lot of potential areas for collaboration exist between the two partners and reassured Princess Zahra Aga Khan and her delegation of the Makerere’s readiness to undertake joint activities for the good of humanity. He also used the occasion to observe a moment of silence in honour of His Late Highness Prince Karim Aga Khan IV, who passed away on 4th February 2025.
Following the signing of the Vice Chancellor’s Visitors Book, Princess Zahra Aga Khan and her delegation proceeded to the Makerere University Innovation Pod (Mak UniPod), where they received a guided tour from Dr. Cathy Ikiror Mbidde, the Director.
Prof. Henry Alinaitwe on 20th February 2025 officially handed over the Office of Deputy Vice Chancellor (Finance and Administration)-DVCFA to Prof. Winston Tumps Ireeta at a ceremony presided over by the Acting (Ag.) Vice Chancellor, Prof. Buyinza Mukadasi. The handover was witnessed by the University Secretary-Mr. Yusuf Kiranda, Chief Human Resources-Mr. Deus Tayari Mujuni, Chief Internal Audit-Mr. Patrick Akonyet, University Bursar-Mr. Evarist Bainomugisha and Chief Legal Affairs-Ms. Nanyondo Sumaiyah Sebuta.
Equally present to witness the ceremony were the Chief Estates and Works- Eng. Okuk Geoffrey, Dean of Students-Dr. Winifred Kabumbuli, Deputy University Secretary-Mr. Simon Kizito, Mr. Juma Katongole-Representing Director ICT Support, Ms. Susan Mbabazi-Representing Director Gender Mainstreaming, Ag. Manager of Planning and Development-Mr. Emmanuel Kitamirike as well as staff from the Vice Chancellor’s and Deputy Vice Chancellors’ Offices.
Prof. Buyinza Mukadasi in his remarks thanked Prof. Alinaitwe for the effort and support rendered to the University through the DVCFA’s Office and prayed that Makerere could continue tapping into his knowledge.
“As colleagues we have a shared agenda and a common destination as we do the best for Makerere. I thank Prof. Henry Alinaitwe for being a hardworking colleague of great humility, collegiality, and being open-heartedly committed to the principle of trust” remarked Prof. Buyinza, who also expressed belief that God has bigger plans for him as he exits office.
In the same breath, Prof. Buyinza congratulated Prof. Ireeta on his new role, admitting that he has what it takes to carry on from where his predecessor left off. “Thank you for accepting to take on this appointment; it takes a person of great responsibility to accept the huge mandate of this office.”
The Chief Human Resources Officer, Mr. Mujuni thanked Prof. Alinaitwe for steering the Office of the DVCFA and pledged to correspondingly support his new supervisor, Prof. Ireeta. The University Secretary, Mr. Kiranda equally thanked Prof. Alinaitwe for the guidance, support, and flexibility accorded to his office to fulfil its mandate.
“Although it is difficult for us to sit here and witness this handover, we are comforted to have previously worked with Prof. Ireeta and look forward to the continuity in service that his experience presents” added Mr. Kiranda.
The Chief Internal Audit Officer, Mr. Akonyet in his tribute thanked Prof. Henry Alinaitwe for his guidance as immediate supervisor, which helped shape the internal audit function. Like Mr. Kiranda, Mr. Akonyet thanked Prof. Ireeta for his support as a member of the University Council’s Audit Committee and expressed confidence that his passion for service would greatly benefit the University in his new role.
Presenting his handover report, Prof. Henry Alinaitwe reflected on a number of achievements such as: Mobilising resources for the Makerere@100 Celebrations and other activities; establishing the Grants Administration and Management Support Unit (GAMSU); realigning Makerere’s Ten-Year Strategic Plan to the Five-Year NDP-recommended interval; Payment of outstanding In-house Benefits; Harmonization of staff salaries; as well as Recruitment, Promotion and Training of staff.
Prof. Alinaitwe equally highlighted achievements such as: Formulation of the ICT Policy and purchase of related equipment; Developing a Security Masterplan and enhancing surveillance, personnel numbers and equipment; Support to Student Affairs Management and Governance including overseeing the Emerging Leaders Program; Renovation of Student Halls of Residence; Establishment of the Disability Support Centre; Leading the Design Team for the Reconstruction of the Main Building; Improving Competitiveness of the Staff Housing Policy; Improving the University Fleet and Vehicle Access Control; Improving the Budgeting Process through Unit Ledgers and Accounts; among others.
He concluded by thanking the University Council and the Vice Chancellor for entrusting him with the role of DVCFA as well as all the support rendered to his office in the execution of his duties. “Whereas I have read out all these various achievements, they have largely been due to all your respective contributions and I thank you for that.”
In his acceptance remarks, Prof. Winston Tumps Ireeta similarly thanked the University Council and Vice Chancellor for entrusting him with the responsibility of overseeing the Office of the DVCFA. He acknowledged that despite the fact that he was taking over from Prof. Alinaitwe on whose behalf he had acted a number of times, he still has big shoes to fill. “However, with my God, all things will work out” he prayed.
The incoming DVCFA requested Prof. Alinaitwe to always accept consultation on matters relating to the office and pledged to be as results-oriented as his predecessors. “Let’s all work together for the good of our University” he concluded.
Following the Handover Ceremony, Prof. Buyinza Mukadasi on behalf of Members of Management presented a plaque to Prof. Henry Alinaitwe in appreciation of his dedicated service as Ag. DVCFA from 16th November 2021 to 19th February 2025.
In a pivotal meeting held earlier this morning, the Acting Deputy Vice Chancellor, Prof. Henry Alinaitwe, met with project implementation partners from the Korea Institute for Development Strategy (KDS) and the Korea National Open University (KNOU) to discuss the upcoming Project for Enhancing the Distance Education Environment at Makerere University in Uganda (2024-2028). This collaboration, set to launch on February 27, 2025, is poised to revolutionize the university’s distance learning initiatives.
The project, which is generously funded by the Korean Government through KOICA (Korea International Cooperation Agency), will receive a substantial investment of USD 12.2 million. It aims to address critical areas in e-learning at Makerere University, with key components focusing on the development of a comprehensive e-learning master plan, capacity building for staff in Open and Distance eLearning (ODeL), equipping two state-of-the-art content development studios, and the development of necessary infrastructure.
Prof. Henry Alinaitwe expressed his enthusiasm for the partnership, stating, “This project marks a significant milestone for Makerere University as we strive to enhance our distance learning capabilities. The integration of advanced technology and capacity building will not only improve the quality of education but also ensure greater accessibility for learners across the region. We are grateful for the generous support from the Korean Government and look forward to the successful implementation of the project.”
The delegation from Korea, led by Prof. Chun Se yeoung, also expressed their commitment to the success of the project. Prof. Chun Se yeoung remarked, “We are excited to partner with Makerere University on this transformative project. We believe that by enhancing the distance education environment at Makerere, we will not only benefit the university but contribute to the development of higher education in Uganda and the broader East African region. Our goal is to build a sustainable and scalable model that empowers educators and students alike.”
The project is expected to have a lasting impact, significantly strengthening Makerere University’s capacity to offer high-quality education remotely, thereby increasing access to learning opportunities for students across Uganda and beyond.
-
Agriculture & Environment2 weeks agoMak, CGIAR GENDER Impact Platform drive equitable & inclusive agricultural development through enhanced gender & agriculture curricula
-
Engineering, Art & Tech4 days agoCall for applications: Master’s Scholarship for Exchange Semester at TUM for Winter Semester 2025/26, 1 Oct 2025 – 31 March 2026
-
General2 weeks ago91st Electoral Commission Promises a free and fair Electoral Process
-
Agriculture & Environment6 days agoAdvanced training course in Deforestation-Free Supply Chain Management
-
General2 weeks agoCelebrating Women in Science at Makerere University