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.”
An extraordinary sitting of the Uganda Vice Chancellors Forum (UVCF) meeting at Makerere University on 23rd June 2025 has made a special appeal for the scientific evaluation of the impact of the Higher Education Access Certificate (HEAC) programme as its future hangs in a balance. The sitting was hosted by the Acting Vice Chancellor, Prof. Mukadasi Buyinza and addressed by the Executive Director UVCF, Prof. Eriabu Lugujjo, Chairperson UVCF and Vice Chancellor Busitema University, Prof. Paul Waako and representative from the National Council for Higher Education (NCHE), Dr. Maria Nakachwa and a representative from the HEAC programme, Prof. David Orema.
Welcoming members of the Forum to Makerere University, Prof. Buyinza Mukadasi expressed warm regards from the Vice Chancellor, Prof. Barnabas Nawangwe who was away on official duty. Turning to the agenda of the day, he said “I find the proposed items on the order paper quite pertinent given the time, as we offer guidance and input towards our next journey in higher education.
“We believe that by the close of the day, we should be able to come up with a position paper that will inform the next course of action in this regard” remarked Prof. Buyinza Mukadasi in reference to the scheduled updates from NCHE on the HEAC Programme.
The ED UVCF, Prof. Eriabu Lugujjo in his remarks thanked Makerere University for accepting to host the extraordinary session at short notice. Commenting on the successful reconstruction of the Main Building he said, “90% of the Vice Chancellors gathered today had not been here since the conflagration so we wish to commend you on the quality of work, especially the preservation of history.” He reiterated the host Vice Chancellor’s hope that the sitting would come up with unified resolution on important issues pertaining to the Higher Education sector.
The Chairperson, Prof. Paul Waako thanked the Africa Renewal University for the warm hospitality accorded during the 75th meeting of the UVCF and congratulated Universities upon participating in the National Science Week and Summit 2025.
“This is a very good forum for institutions to interact, share progress on innovations and catch up with how far the country is progressing in science, technology and innovation. The new addition this year was the Science Summit, which is supposed to bring together all scientists in this country and out of that we would like to generate a position paper on science, technology and innovation, which we are insisting should be discussed by Cabinet every year” Prof. Waako remarked.
The Chairperson UVCF noted that the extraordinary meeting had been called on short notice to feed into ongoing discussions at high levels regarding the HEAC programme and the recently passed Uganda Technical and Vocational Education and Training (TVET) Act, 2025. He noted that the TVET Act has big implications on Higher Education training at Diploma and Certificate level, warranting a discussion by Vice Chancellors.
Stakeholders from NCHE and the Commissioner for Higher Education and Training in the Ministry of Education and Sports (MoES) were invited to enrich the discussion. Equally invited were; Prof. David Orema who worked with NCHE to develop the HEAC programme and the first training programme at Busitema University, Incoming and 24th Guild President of Gulu University and HEAC beneficiary Mr. Alex Opio Ongom, a student representative from Kabale University, and the first female graduate engineer from Buyende District – also a HEAC beneficiary.
Giving an overview of the HEAC programme, Dr. Nakachwa observed that Uganda remains a hub of Higher Education in the region and the programme acts as a good bridge for international students who need to meet entry requirements of Ugandan institutions. She also pointed to the fact that the HEAC programme acts as a remedial programme for students who sat and completed the Uganda Advanced Certificate of Education (UACE) but did not attain sufficient grades to enroll for Diplomas or Degree programmes.
“Looking at the recently released UNEB exams, people with one principal pass were 29,000. Where are they going? Are they going to repeat? Very few do. In 2023, 18,000 students got one principal pass. Should we deny them access to the Ugandan Higher Education?” she pondered.
Dr. Nakachwa added that NCHE, which is mandated by the Universities and Other Tertiary Institutions Act to set minimum entry requirements to any certificate, diploma or degree programme developed minimum standards for the HEAC programme in 2016, with institutions having the leeway to add two or three courses to help students cope with the rigour.
“This is well prescribed in Instrument 34 of 2008. It is a Level 4 of the Uganda Education qualifications framework because it is Post-A-Level, and the Higher Education Certificate Programme was approved by the National Council for Higher Education in 2016” elaborated Dr. Nakachwa.
She added that the HEAC is intended for four categories of students; 1) foreign students whose education system differs from Uganda’s, 2) a remedy programme for students with A-Level qualifications but not admissible for Diplomas and Bachelors, 3) holders of vocational qualifications i.e. holders of national certificates from the Directorate of Industrial Training (DIT) intending to pursue higher education, and 4) a bridge for the science/arts divide for students who may have passed sciences at O-Level but pursued arts at A-Level and thereafter, seek to pursue clinical or nursing programmes.
Furthermore, she noted that the change in nomenclature from the Higher Education Certificate (HEC) to the Higher Education Access Certificate (HEAC) programme was as recommended by a 2022 review, that also recommended an increase in subject content for the Biological and Physical sciences tracks of the programme. The HEAC also offers a third General track for arts. Nevertheless, students on all three tracks are required to interact with content in the three areas of; Life Skills Education, Study Skills and Academic Writing, and Foundations of Mathematics and Statistics.
Sharing results as at December 2024, Dr. Nakachwa noted that 21 out of the 56 registered Higher Education Institutions in Uganda are accredited to run the HAEC programme, with a total of 3,908 students enrolled. “We have learnt some lessons which include; having the regulatory frameworks reviewed is critical, and continuous engagement with stakeholders is paramount.”
The presentation by the National Council for Higher Education guided the discussions for the rest of the UVCF sitting, which concluded with the resolution to develop a position paper. Thereafter, the UVCF was led on guided tour of the reconstructed Main Building by the Acting Vice Chancellor, Prof. Buyinza Mukadasi.
On Tuesday, 17th June 2025, a distinguished delegation from the Mastercard Foundation Board visited Makerere University for the first time since the establishment of the Mastercard Foundation Scholars Program at the university. The visit underscored the progress achieved through the partnership and its positive impact on the university community, Uganda and the African continent over the past decade. The delegation was welcomed to Makerere by the Vice Chancellor, Prof. Barnabas Nawangwe, accompanied by Prof. Buyinza Mukadasi, Acting Deputy Vice Chancellor for Academic Affairs, and Prof. Justine Namaalwa, the Program Director for Mastercard Foundation at Makerere University.
The high-profile delegation was led by Her Excellency President Ellen Johnson Sirleaf, the former President of Liberia and the first woman to hold the presidential office on the African continent. She serves on the Board alongside other members such as Mr. Zein M. Abdalla, the Board Chairperson; Ms. Jennifer Fonsted; Mr. Jim Leech; Mr. Stephen Toope; Ms. Sewit Ahderom; Ms. Baroness Valerie; Hon. Louise Arbour; Ms. Tsega Gebreyes; Mr. Jay Ireland; Mr. Michael Sabia; Ms. Carole Wamayu; Ms. Robin Washington; and Ms. Reeta Roy, the President and Chief Executive Officer of the Mastercard Foundation. Additionally, the Board members were accompanied by the leadership team of the Mastercard Foundation, including Mr. Doug Kasambala, Chief Financial Officer; Ms. Ivy Mwai, Education and Skills Lead; Mr. Adrian Bukenya, Country Director for Mastercard Foundation-Uganda Programs; and Ms. Rachel Nandelenga, Head of Country Program Communications.
The Mastercard Foundation Board conducted a series of meetings with various stakeholders at Makerere University. The meetings begun with the University Leadership, which featured key figures such as Rt. Hon. Daniel Kidega, the Deputy Chairperson of the University Council and Chairperson of the Mastercard Foundation Scholars Program Advisory Board at Makerere; Prof. Barnabas Nawangwe, the Vice Chancellor; Prof. Buyinza Mukadasi, the Acting Deputy Vice Chancellor for Academic Affairs and Chairperson of the Steering Committee for the Mastercard Foundation Scholars Program; and Mr. Yusuf Kiranda, the University Secretary.
While addressing the delegation, Vice Chancellor Prof. Nawangwe expressed gratitude for the partnership between the Mastercard Foundation and Makerere University. He highlighted the Foundation’s impact on Africa’s higher education sector and the livelihoods of young people across the continent.
“We are privileged to host Her Excellency Ellen Johnson Sirleaf, along with other Members of the Board of Mastercard Foundation and the Foundation’s President and CEO, Ms. Reeta Roy, for the first time at Makerere University. The Mastercard Foundation has significantly impacted Uganda and Africa’s higher education sector and the livelihoods of young people, for which we are very grateful,” Prof. Nawangwe remarked.
Prof. Nawangwe also expressed appreciation to the Mastercard Foundation for its partnerships with Makerere University, which began with the Scholars Program and now encompasses additional initiatives such as the E-learning Initiative and, most recently, the Climate Resilience and Sustainability Collaborative project.
During the meeting with the Scholars Program staff, the Program Director, Prof. Justine Namaalwa, had the opportunity to outline the achievements of the first 10 years (First phase) of the Scholars Program at Makerere University and shed light on the future of the second phase of the Program at Makerere University.
Among the achievements highlighted by Prof. Namaalwa during the first phase were the following:
- The Program supported 1,032 young people, of whom 76% were females and 24% were males.
- As of January 2025, 965 Scholars had graduated, achieving an exceptional completion rate of 94%.
- Scholar Alumni have moved on to various pursuits, including formal employment (34%), entrepreneurship (11%), and further education (3%).
- Strengthening the Student Mentorship Engagements through capacity-building sessions for 97 university staff across the colleges, which benefits both the Scholars and other students.
- Drafting the Makerere University Career Guidance and Mentorship Policy to streamline mentorship engagements across the university. The Policy is currently under review by the University Council.
- As of 2024, the Scholars Entrepreneurship Fund has created 86 jobs across various communities.
- The Scholars made a positive impact on communities through their Annual Day of Service, supporting twelve communities by constructing boreholes for clean water access in two communities and building and equipping classrooms in three communities.
Prof. Namaalwa also elaborated on the accomplishments thus far in the second phase of the Scholars Program by highlighting the following;
- 101 Scholars recruited into the Program across different categories.
- Prioritizing the safety of students and staff, emphasized by the well-articulated Makerere University Safeguarding Policy and its implementation activities.
- A fully operational Disability Inclusion Support Centre.
On the other day’s activities, the Board also had the chance to view a mini-exhibition showcasing projects implemented by the alumni scholars. Furthermore, they engaged in a focus group discussion with both the Scholars and alumni.
On their part, the Board members expressed gratitude to Makerere University Management, led by Prof. Nawangwe, for the tremendous achievements the university had attained through the implementation of the Scholars Program and other initiatives aimed at uplifting underprivileged young people in Uganda and Africa. The Board members also expressed their appreciation to Prof. Namaalwa and the Scholars Program for the excellent job done in implementing the Scholars Program and for the continuous support provided to the Scholars and Scholar-alumni.
The Vice Chancellor, Prof. Nawangwe, concluded the day by presenting each visitor with an unforgettable souvenir of Makerere, which included exquisite Makerere University coffee mugs and executive pens.
Mr. Bernard Buteera is the Principal Communication and Public Relations Officer of the Mastercard Foundation Scholars Program at Makerere University
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