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.”
General
Minister Janet Museveni Lays Foundation Stone for School of Graduate Studies Building, Commissions the School of Law Building and the renovated Lumumba Hall
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni, has laid the foundation stone for Makerere University’s School of Graduate Studies building, whose construction is now underway.
The Minister laid the foundation stone for the USD8 million project during a brief function held on Wednesday 18th December 2024 at the site opposite Makerere University’s Lumumba Hall. The event was attended by several dignitaries, including the State Minister for Primary Education, Hon. Joyce Moriku Kaducu, University Council Chairperson Mrs. Lorna Magara, and Makerere University Vice Chancellor, Professor Barnabas Nawangwe.
Others in attendance included Acting Deputy Vice Chancellor of Finance and Administration, Professor Henry Alinaitwe; Acting Deputy Vice Chancellor of Academic Affairs, Professor Buyinza Mukadasi; University Secretary Mr. Yusuf Kiranda; Dean of Students Winfred Kabumbuli; Guild President Vincent Lubega Nsamba; and the Vice Guild President, Joy Eve Serunjogi among others.
The building is a donation (in-kind) from the late Hasmukh Patel, an industrialist and former Chairman of Tororo Cement who passed away on August 29, 2024, after a short illness. The journey to this befitting donation to Makerere University started in December 2022, when Hasmukh Patel accompanied by some members of his family and friends visited the Vice Chancellor, Prof. Barnabas Nawangwe to declare his donation. From December 2022, a number of meetings were convened involving the Minister of Education and Sports, the University leadership, Mr. Hasmukh Patel, his family and Tororo Cement regarding this donation. Living true to his commitment during those meetings, his family and Tororo Cement are implementing his wishes to construct the building, which will house the School of Graduate Studies at Makerere University.
Before laying the foundation stone for the School of Graduate Studies building, Hon. Janet Museveni first unveiled a plaque to officially open the new building for the School of Law. She then headed to Lumumba Hall, where she unveiled another plaque marking the completion of its renovation.
The First Lady, who had initially laid the foundation stone for the School of Law building on May 17, 2022, returned to the main campus to officially open the completed structure. Funded by the Government of Uganda to the tune of UGX 7.3 billion, the new three-storeyed building features lecture rooms, tutorial and seminar rooms, a library, a moot court, offices, a cafeteria, a lactation room, and other teaching and learning facilities. Construction was undertaken by M/S CK Associates, with Symbion serving as a consultant.
The renovation works for Lumumba Hall commenced in June 2023, with the site handed over to the contractor, National Enterprise Corporation (NEC). Funded by the Government of Uganda to the tune of UGX 9 billion, the project involved extensive renovations to restore Lumumba Hall to its original splendor. Lumumba Hall now accommodates about 725 students.
Lumumba Hall was the first hall of residence to undergo renovation, followed by Mary Stuart Hall, which has also been handed over to NEC for refurbishment. These renovations, which began last year, are a result of the Government of Uganda’s efforts to improve the nine (9) halls of residence at the main campus.
Speaking at the event, Hon. Janet Museveni thanked the University Council and management for their dedication to rebuilding the institution. She expressed confidence that the physical restoration efforts would also rebuild the character of young people.
“There is a restoration of dignity that comes to an institution or a community when we choose to rebuild and it is not only physical, there is a spiritual restoration that comes as well. For Nehemiah, it was not just the rebuilding of a physical wall it was the rebuilding of broken lives and a broken covenant. It was the rolling away of the reproach they had suffered as a nation,” she said.
Adding; “I therefore salute the Council and the management of Makerere for your dedication to the rebuilding of this University. I am confident that as you rebuild physically, you are rebuilding the character of our young people. My prayer is that the physical restoration is translating into the spiritual restoration of this great institution.”
The first lady, Hon. Janet Museveni recalled her earlier visit to Makerere University, where she observed the dilapidated state of the halls of residence, which prompted her to initiate the renovation works.
“I remember taking a tour of the halls of residence in this University and Kyambogo University in the thick of the COVID-19 pandemic. My heart bled when I saw the state of the halls of residence. Like Nehemiah, I took my burden to the Lord and now see what the Lord has done! Commissioning of the refurbished Lumumba Hall today is a testament to the faithfulness of our God. It is even more gratifying to know that other projects are ongoing and these include: the renovation of Mary Stuart Hall, the construction of the Perimeter Wall, and improvements at the University Hospital, including setting up an operating theatre and ICU.” She said.
Hon. Janet Museveni also expressed gratitude to the Vice Chancellor, Prof. Barnabas Nawangwe, for his leadership, which facilitated the realization of the Tororo Cement project. “This Project would not have been possible without the guidance and leadership of the Vice Chancellor of Makerere University, Prof. Nawangwe, who drew my attention to this offer by Tororo Cement, and requested me to endorse this Project, which will be named after Mr. Hamukh Patel,” she said.
Adding: “I am informed that the construction of this building is estimated to cost 8 Million US dollars and will consist of: lecture and seminar rooms, smart classrooms, laboratories, an innovation space, a conference hall, offices and other facilities. We remain forever grateful for this donation, which will increase access and contribute to improving the quality of postgraduate education.”
Speaking at the event, Vice Chancellor Prof. Nawangwe commended Hon. Janet Museveni for prioritizing the development of Makerere University, which has seen remarkable progress under her leadership. “Hon. Minister, from the time you took over the Office of Minister of Education and Sports and the Higher Education Sector, Makerere University in particular has transformed tremendously. Most notable is the infrastructure revolution at Makerere. On several occasions, you have come to Makerere to lay the foundations for new buildings and to open completed buildings, including our iconic Main Administration Building,” he said.
“When you inspected the halls of residence in 2021, I could see the frustration in your eyes, looking at the dilapidated state the halls were in, especially Lumumba, part of which had been condemned for 2 years,” Prof. Nawangwe said.
“Hon. Minister, I am sure that today, after seeing the glamorous new building for the School of Law and the glittering renovated Lumumba Hall, you are in a completely different mood compared to that visit in 2021. We are as delighted as you must be and your efforts are the reason for our happiness today. Our law students and professors can now comfortably study, work and conduct research in the best building for any school of law that I have seen,” Prof Nawangwe added.
Reflecting on the Graduate School Building, Prof. Nawangwe recalled when he received a proposal from Mr. Hasmukh Patel in 2022 who had initially intended to donate the Main Administration Building, which had been destroyed by fire, but opted to donate School of Graduate Studies Building after finding that the main building reconstruction had already started.
“Hon. Minister, in the morning of 13th December 2022, a miracle happened in my office in the Frank Kalimuzo Building. General David Muhoozi and Major General Apollo Gowa walked into my office with the Late Hasmukh Patel. Gen. Muhoozi introduced Mr. Hasmukh Patel as the Chairman of Tororo Cement, who after learning about the destruction by a fire of our Main Administration Building, expressed the wish to reconstruct that iconic building. On reaching Makerere, Mr. Hasmukh Patel found a contractor already on site, and he told us, that he would all the same donate a building to Makerere University as a gift on our 100th anniversary,” Prof Nawangwe said.
“He said it in such a simple way, that I thought I was dreaming. That evening, at the invitation of Mr. Patel, I visited the building that Mr. Patel had built for a school at Bukoto and I told him that a similar building for Makerere would be just what we needed for our School of Graduate Studies and Research that we needed. The University Council unanimously voted to thank Mr. Patel for his magnanimous offer and, you, Maama Janet graciously endorsed the project. I later visited Mr. Patel in Mombasa and was amazed at the humanitarian work he was doing among the communities. He was such a rare human being,” Professor revealed.
“Today we are here to witness the laying of the foundation stone for this, the largest academic building at Makerere University, and the first such donation I know by an African philanthropist to a university in Africa. The building will have lecture and seminar rooms, a conference hall, innovation spaces, PhD student rooms, computer and other laboratories, a restaurant, staff offices and other facilities. I thank Tororo Cement and the family of the Late Hasmukh Patel for honoring his wish and I wish to assure Mr. Patel, who must be in heaven smiling at us, that we will honor his legacy in this building and that we will put the building to its best use in the service of humanity, which is what Mr. Patel lived for,” Prof Nawangwe added.
On her part, the state Minister for Primary Education, Honorable Joyce Moriku Kaducu acknowledged Hon. Janet Museveni for prioritizing the Education sector in her leadership, which has led to the tremendously development of the sector.
“On behalf of the education sector, we want to thank you as the mother of the nation, indeed you are a big gift and a blessing to the nation and education at large, all this achievement would not have been possible if it was not under your visionary leadership and the guidance you have offered,” Minister Kaducu said.
Hon. Kaducu also hailed Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model, which is intended to create wealth among citizens.
“As President Museveni is preaching the message of wealth creation, I want in a special way to thank Makerere University for playing a very critical role in sensitizing, disseminating knowledge, and raising awareness to the public on the message of the Parish Development Model (PDM), and they have a committee that monitors and informs government. They are indeed part of the team promoting wealth creation in this country,” she said.
Mrs. Lorna Magara, the Chairperson of the Makerere University Council said that the construction of the Graduate studies building speaks to the University’s mission of being a research-led institution because it comes as a dedicated building to house the Directorate of Research and Graduate Training, which marks the resolution of a critical gap in our institutional framework
“At the heart of Makerere University’s current strategy is the promotion of a research-led institution, with a strong focus on graduate training. The establishment of a dedicated facility for the School of Graduate Studies, which also houses the Directorate of Research and Graduate Training, marks the resolution of a critical gap in our institutional framework. The late Patel’s timely and generous contribution will undoubtedly advance graduate training and research for generations to come. We extend our heartfelt gratitude for your exceptional support,” she said.
Mr. Manish Varsani who represented the Patel family took the first lady through how Mr. Hasmukh Patel started the idea of donating the building to Makerere. He explained that, Mr. Patel intended to present a gift that was coming from the bottom of his heart, and he teamed up with General Muhoozi who led him to Prof. Nawangwe’s office.
He also recalled when Mr. Patel met H.E President Yoweri Kaguta Museveni Museveni in Bukoto where he (Patel) had donated a building to a school and told the President that he would want to donate the same building to Makerere University as a gift to the First Lady Janet Museveni because he loved her so much, and in response, the President said he would take the message back to the First Lady.
The Guild President Lubega Vincent Nsamba asked the First Lady to consider constructing another hall of residence for the female students to solve what he described as an accommodation imbalance.
“Maama Janet Museveni, allow me to report to you that we still have only three halls of residence gazetted for female students against the six halls of residence gazetted for male students. These halls of residences were built back in colonial and independent times when the female students were fewer compared to their male counterparts, and to me Maama, this accommodation imbalance is something that should be addressed,” he stated.
“To me Maama, this speaks to the sense of how there is a dire need to invest in another additional hall of residence for the girl child here at Makerere University, and Maama, without any fear of contradiction, we humbly request that you consider building an additional hall of residence named after you in recognition of the contribution and honor of the service you have made for this country as a mother and as an educator,” he said.
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