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.”
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.
Makerere University has urged female students admitted under the Makerere University Council Tuition and Functional Fees Waiver Scholarship for the 2026/27 academic year to take the opportunity seriously, focus on their academic performance, and stay alert about their personal safety.
The message was delivered during an orientation for the scholarship beneficiaries at the Senate Conference Hall, where officials from the Gender Mainstreaming Directorate welcomed the students and shared guidance on academic success, security, mentorship, and responsible social conduct.
The Chief Gender Mainstreaming Officer cautions students on safety and self-reliance
Dr. Euzobia Mugisha Baine, Chief Gender Mainstreaming Officer, congratulated the students on receiving the scholarship and urged them not to take it for granted.
She advised them to seek information from the relevant university offices instead of relying on assumptions or what fellow students tell them, and to keep records of official communication whenever they raise concerns or follow up on university matters.
Dr. Baine said students should take responsibility for their own security, warning them not to trust strangers easily and urging them to be careful about where they go and who they interact with.
She also reminded them that strong academic performance is required to keep the scholarship, and encouraged them to ask for help early whenever they face academic, social, or other challenges instead of waiting until the situation becomes harder to manage.
Students urged to aim for first-class results
The officers welcomed the students and encouraged them to put their studies first, urging them to aim for first-class academic results during their time at Makerere.
They advised them to use the academic support available to them, including help from course mates and any tutorials or mentoring offered within their colleges, and not to hesitate to seek assistance when they have concerns about their results or coursework.
The GMD team also spoke to scholars about personal safety, cautioning students against accepting help from strangers, including with luggage or transport, and referred to a recent incident in which a student’s belongings were stolen. She urged them to stay alert as they settled into university life.
Focus on academic foundations and safe social conduct
Other speakers, including Ms. Susan Mbabazi, who is the Principal Gender Officer, Ms. Abilat Lozirah, and Cynthia Ayaa Kamaketch emphasised the need to build a strong academic foundation from the start of the semester. They encouraged students to attend lectures regularly, read beyond classroom notes, use university resources such as internet access and the library, and develop steady study habits instead of waiting until exams are near.
They also warned students to be careful when meeting people they do not know well, advising them to hold academic discussions and social meetings in open, public spaces such as Freedom Square rather than in private rooms.
The students were also encouraged to seek mentorship from university staff and others who could guide them in their academic and career development, and to identify a mentor before leaving the orientation.
The orientation also pointed students to key university services and locations they should know, including the university health facilities, the Makerere Police Post, the Counselling and Guidance Centre, and places of worship on campus.
Speakers reminded the students that the scholarship gives them a chance to pursue their education at Makerere University, and that keeping it depends on their discipline, academic performance, and willingness to seek support when needed.
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