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.”
Through the Food for Peace initiative, the Rotary Club of Makerere Passport is stepping in to provide meals to over 200 students who struggle to afford meals, especially during the examination period.
According to Professor Barnabas Nawangwe, the Vice Chancellor of Makerere University and President of the Rotary Club of Makerere Passport, hundreds of students drop out of Makerere University every year due to financial constraints. The reality for those who remain is sometimes tougher, for they struggle to survive.
While addressing the media at a press conference held at Makerere University on November 11, 2026, Prof. Nawangwe shared that many of these students skip meals, a situation that is more frequent during examination periods, when the demands on the brain are much greater.
The University is aware of these reports and in his capacity as Vice Chancellor and President of the Rotary Club of Makerere Passport, Prof. Nawangwe lobbied the club to take action.
In preparation for intervention, a comprehensive needs assessment was conducted, inviting students to come forward and share their needs. About 200 students responded to the survey, indicating a pressing need for food support during examinations.
The findings birthed a legacy project code-named “Food for Peace”, targeting, for a start, 206 students at Makerere University, regardless of their sponsorship status, as long as they participated in the survey. The Makerere Rotary Peace Centre spearheaded the survey that helped identify the first cohort of those who will benefit from the initiative and guided that for a dignified experience, the beneficially names will remain in records and not disclosed.
Prof. Nawangwe emphasised that the core mission of this cause is to move a step up with efforts to ensure that economically challenged students at Makerere University do not go a day without a meal. Service providers in halls of residence will serve these students their food following a meal card.
Seeding the Project
The Guest of Honour, Mr. Emmanuel Katongole, the Rotary International Director (RID) for Zone 22, while launching the initiative shared his personal experience of facing challenges that almost barred him from attaining an education. He believes education is an equaliser in life and that everyone should have a chance to access it. He reminded those in the room that they were all there together because of education.
RID Katongole highlighted the importance of supporting people, both as individuals and as a community. He expressed pride in being part of the launch of this project because it is going to create many more “Emmanuel Katongoles” through the provision of a meal.
He therefore personally committed to contribute UGX 5 million annually, starting this year, for as long as he lives or until the project ends. He also pledged to remain part of the initiative.
92nd Guild Commends “Service above Self”
From a student perspective, H.E. Kadondi Gracious, the 92nd Makerere University Guild President, delivered a vote of thanks for the initiative. She noted that students had petitioned Parliament to intervene in the matter and were happy that solutions had started coming from within.
She framed this move not just as charity, but as a way of restoring hope to Makerereans who were unsure of how they were going to maneuver through the examination period without lunch. In appreciation, the Guild President commended Rotary for showing what it actually means to offer service above self.
Sustainability of the “Food for Peace” Project
Although the immediate intervention is directed towards fewer than 300 students who expressed a need for assistance, the vision is bigger and looking beyond the current examination season.
As the Rotary Passport Club President noted, “if this is going to be sustainable, it means we are going to look out for partners to create a fund to sustain this initiative.”
The Club Secretary, Associate Professor Helen Nambalirwa Nkabala, explained that as a legacy project, it is not a one-off. She committed the services of the Passport Club to supporting this legacy project.
Grounding the sustainability move, RID Emmanuel Katongole set the pace by pledging annual cash and in-kind support towards providing consistent assistance to students throughout subsequent academic periods, thereby enhancing student welfare over the long term.
Dr Winfred Kabumbuli, the Makerere University Dean of Students, showed strong support for the initiative since it falls within the core mission of student welfare. She appreciated the collaboration with Makerere University Passport Club, and pledged to rally internal support.
Call to Action and Contributions
The Club President made an appeal to alumni, corporate bodies, development partners, individuals and institutions of goodwill to join this noble cause, intended to ensure that students not only remain at the University but also attain their full potential on a full stomach.
The immediate fundraising goal is UGX 10 million shillings, which is required to implement the initial phase of food support. Excess amounts collected will facilitate an increase in the number of beneficiaries and after the examination period, add to the kitty for subsequent semesters.
Support and assistance can come in the form of financial contributions, food supplies, corporate partnerships, logistical support, and long-term partnerships.
To facilitate support, the club, through its Charter Treasurer (C.T.), Professor Winston Tumps Ireeta, shared the banking details as follows
Bank: NCBA Uganda Limited.
Account Name: Rotary Club of Makerere Passport
Uganda Shillings (UGX) Account Number: 228129200017
United States Dollar (USD) Account Number: 228129200027
SWIFT Code: CBAFUGKA
Bank Code: 36
Students were left with one final promise from the Chief Guest, “you are no longer alone. You have a partner in the Rotary Club of Makerere Passport.”
Prof. Edward Bbaale, Acting Deputy Vice Chancellor for Finance and Administration at Makerere University, on November 10 2026 welcomed a delegation from the International Water Association (IWA), led by Mr. Keith Robertson, the Learning and Events Director at International Water Association (IWA). Mr. Robertson, in his remarks, highlighted their visit to Makerere University as a fact-finding mission regarding the potential establishment of a new regional IWA office in Africa to support the continent in solving challenges relating to water.
The International Water Association is a leading global nonprofit organisation and knowledge hub for the water and sanitation sector. Connecting more than 10,000 individual members and 500 corporate entities across 140 plus countries, the association bridges the gap between scientific research and practical engineering to solve global water crises, improve sanitation, and secure clean water systems. Currently, IWA is evaluating potential host cities in Africa; Makerere University in Kampala is the first they have visited out of their three countries and venues earmarked.
This meeting held at Makerere Main Administrative Building, was attended by university leadership, faculty from College of Engineering, Design, Art and Technology (CEDAT), and representatives from the National Water and Sewerage Corporation (NWSC). Discussions explored possibilities of the yet to be established office bridging the gap between academic research and practical application in the water sector not only in Uganda but also on the continent.
On behalf of University Management, Prof. Edward Bbaale underscored this engagement that focused on possible Water and Sanitation advancement partnership as one that aligns well with the strategic direction of the University.
Projected Impact of a Kampala-Based IWA Office
Dr Philip Nyenje, Head of Department, Civil and Environmental Engineering (DCEE), expressed optimism about the collaboration, saying, “this is a very good opportunity for us to grow our interest in the sector of water and sanitation.”
In addition, Dr Seith Mugume, a Senior Lecturer at DCEE, noted that the regional office would unlock research and innovation opportunities in the real world for our students and also provide incentives for them to pursue projects within local research and innovation angles.
Eng. Zainab Mpakiraba, Acting Senior Manager at NWSC framed Kampala as a very unique venue for the centre and highlighted Makerere as one of the core academic partners for the regional Eastern and Southern Africa hub of the Global Sanitation Graduate School. Eng. Mpakiraba further endorsed Makerere, saying that, as a top-notch university in Uganda and in the region, when it leads on any aspect, it is able to pull most of the other universities.
Makerere’s Strategic Initiatives and Activities so far in the Area of Water
Dr Nyenje noted that his Department has a very strong base in water and sanitation, covering disciplines like water resources, environmental, structural, and highway engineering. Dr. Mugume added that they are conducting research on “modeling of water resource systems, hydrological and hydraulic modeling,” “water quality management,” and “fecal sludge management, sanitation in low-income and peri-urban areas.”
The two also mentioned that the department has introduced a “master’s in sanitation, and also a postgraduate program… a diploma in sanitation” to address growing interest in the sector.
All these strategies have been made possible through good will and funding from the Government of Uganda, strategic partnerships, and International Collaborations that have positioned Makerere as a key player in the region.
Concluding the session, Prof. Edward Bbaale reaffirmed Makerere’s ability to run this Office when established as the University has human resources in multidisciplinary research, global credibility and working relationships with many organisations and institutions on the continent and far.
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