General
Prof. Sachs Expresses Optimism about Africa’s Economic Growth, PDMs Success
The Government of Uganda has been called upon to put in place measures to ensure the effective implementation of the Parish Development Model (PDM) programme. The call was made at a High-Level Policy Dialogue organized by the United Nations Development Programme (UNDP), in partnership with the Office of the Prime Minister (OPM), National Planning Authority and Makerere University.
Hosted by Makerere University on Wednesday 28th February 2024 at the Yusuf Lule Central Teaching Facility Auditorium, the Dialogue was based on the theme “Accelerating the Sustainable Development Goals through leveraging Innovating Financing, the Parish Development Model, and Science and Technology”. During the dialogue, the government was urged to set up institutions that can track the usage of the program funds to ensure that the over Shs1 Trillion pumped into the program annually does not go to waste.
This call was made by Prof Ezra Suruma, the Chancellor Emeritus of Makerere University and Uganda’s former Minister of Finance, who was a panelist at the dialogue. Hon Suruma warned that currently, it is difficult to assess the achievements of PDM since there is no clear monitoring of the projects at the parish level where the money is being invested.
“In Uganda, we are investing Shs 1 Trillion in the 10,594 parishes, but if you ask where it is going, you can’t find it. The PDM money is capital that the government is attempting to invest in our country and that capital is supposed to accumulate over time. If we invest Shs1 Trillion this year, next year we should have more than that,” Prof. Suruma said.
The Chancellor Emeritus as such, called for the establishment of an institution that can trace where the PDM funds are being invested so that this money is treated as an investment and not consumption.
Minister for Local Government Hon Raphael Magyezi however, assured Prof Suruma and the audience that implementation of the PDM program is highly monitored and leakages are extremely minimal. This, he said, was because the government decided to digitalize payments of the PDM money directly from the Treasury to the parish-based SACCOs. Furthermore, he noted that Government has put in place the PDM Management Information System (MIS) in line with the Sustainable Development Goals (SDGs) emphasis on data for development.
“We have developed our own Management Information System so that we know which household is actually in subsistence, and we have parameters for that, and we are able to monitor and evaluate our programme based on a tracker system” Hon. Magyezi explained.
The Minister further noted that PDM targets 8.9 million households in Uganda, 39% (3.4 million) of which are still engaged in subsistence, with 1 million of these reached so far. He admitted although the PDM still has its work cut out, the Government is proud of the progress so far. Hon. Magyezi shared that Uganda has 145 establishments at the level of Local Council 5 consisting of 135 Districts and 10 Cities, 2,284 Sub-Counties to supervise the parishes and under the parishes, 70,626 villages.
The Prime Minister, Rt. Hon. Robinah Nabbanja who was Chief Guest at the lecture shared that PDM is the Government of Uganda’s second key strategy for accelerating the SDGs and commended the Model as a “comprehensive strategy to uplift the incomes and welfare of all Ugandans.” The first key strategy is Leveraging Innovative Financing Mechanisms, while the third is putting more focus on Science, Technology and Innovation.
Rt. Hon. Nabbanja highlighted the government’s commitment to harnessing the power of research and innovation to provide a strong foundation to advance the digital agenda. She added that the PDM Laboratory at Makerere gives the University an opportunity to amplify and support efficiency and effectiveness of the programme’s implementation.
“Therefore, the PDM Laboratory should continue to be a platform for 1) Distilling and providing additional insights, 2) Commissioning further research and enquiry on the basis of information provided by the technical units and feedback and 3) Analyse feedback to test out policies and operational issues for Cabinet to take action” remarked the Prime Minister.
She informed the audience that Prof. Jeffrey Sachs is leading similar efforts with a lab at Columbia University and urged the leadership of Makerere University to establish a collaboration with Columbia University, “and I’m sure Prof. Sachs is much willing to support this”.
Professor Jeffrey Sachs, a world-renowned Economist, leader in sustainable development, and senior UN advisor delivered a keynote address in which he expressed optimism about development prospects on the African continent.
The prolific economist and author, projected that Africa would take off and become a global economic force in the next 40 years if it could find ways of uniting into a single economic block.
Citing China and India Prof. Sachs advised the government to set targets and also set instruments to help achieve these targets, if the country is to achieve the SDGs. The simple idea of “targets and instruments” was developed by Nobel Prize Laureate Jan Tinbergen. Tinbergen was awarded the first Nobel Prize in Economics in 1969 together with Ragnar Frisch.
Prof. Sachs defined Sustainable Development as the result of achieving four difficult objectives namely; Material wellbeing for everybody, Social inclusion, Environmental Sustainability, and Peace and Cooperation. He nevertheless shared that these can be achieved by Tinbergen’s “targets and instruments” idea.
He advised Uganda to copy China and invest in six major types of capital namely; Education, Infrastructure, Massive Interconnected Infrastructure, Protecting Natural Capital such as clean energy sources, Intellectual/Science and Technology Capital as well as Business Capital. On financing, he advised the government to find flexible and low interest financing with 40 year maturity if it is for sectors such as education.
“What I want to promise you, though I can’t give you the final answer for that part of innovative financing, we are going to get it done. Uganda is going to show a strong NDP IV, it is going to show a very robust plan to achieve rapid growth over the next 40 years, it is going to show that that rapid growth easily repays any long-term low-interest loans that have taken to achieve that, it is going to make the case that the Parish Development Model proves the last mile in an ingenious way, and that institutionally this country is poised for the breakthrough that we are talking about at the regional, national and local level” Prof. Sachs summed up.
In her remarks, Ms. Nwanneakolam Vwede-Obahor, the UNDP Resident Representative warned of Uganda’s widening development financing gap, standing currently at 33 trillion shillings (US$ 8.8 billion) annually.
“Traditional financing sources such as domestic taxes, Overseas Development Assistance (ODA), concessional loans from external partners, borrowing from the domestic market and foreign direct investment are not enough to finance the SDGs,” she said.
“Uganda must explore alternative avenues to secure affordable and flexible financing to drive the development phase in the next seven years. This will involve continuous alignment of the budget allocations and development plans with SDG priorities, diversifying funding sources, including public-private partnerships and unlocking new innovative financing models, and enhancing financial resilience.”
The dignitaries, accompanied by the Vice Chancellor, Prof. Barnabas Nawangwe, toured the state-of-the-art Innovation Pod, which is poised to drive innovation and research in the country. In his remarks, the Vice Chancellor said that Makerere remains focused on implementing strategies and programmes under SDG 4 which emphasizes Quality Education. “I am therefore pleased that today, as we continue the implementation of Sustainable Development Goals, Makerere University is on board hosting Prof. Jeffrey Sachs, the Office of the Prime Minister, National Planning Authority, UNDP, and a number of stakeholders to enhance the discussion on leveraging innovative financing, the parish development model and science and technology.”
Prof. Nawangwe shared with the audience, Makerere’s readiness to contribute to the success of the PDM, citing the role of the PDM Policy lab headed by Prof. Eria Hisali. The PDM Policy lab conducted capacity building to sensitise low-income earners about government programs and how they can utilize the funds to improve their standards of living. The lab continues to undertake research on how to effectively implement PDM. The Vice Chancellor equally shared Makerere University’s commitment to undertaking research and programmes aimed at ensuring that health becomes a priority on the global agenda through the Centre of Excellence for Sustainable Health (CESH). Established in partnership with the Karolinska Institute, Sweden, CESH’s core activities include; Capacity development and Education, Tools and resources, Networks and partnerships, and Research.
Makerere University Retirement Benefits Scheme (MURBS) has hit a historic UGX 547 billion valuation following an impressive 15.4% growth in the 2025/2026 financial year.
During a review meeting of the MURBS performance held at Makerere University Main Administrative Building on October 27 2026, ahead of its 16th Annual General Meeting (AGM), the scheme revealed the booming portfolio will directly benefit its close to 8,000 members.
This presentation primes the upcoming October 29 AGM, where MURBS will officially declare this year’s highly anticipated interest rate to the general members.
Chairperson’s Statement on the Scheme’s Performance FY 2025/2026
Dr. Michael Kizito, Chairperson MURBS Board of Trustees, presented the scheme’s success, noting it is rooted in a deep sense of responsibility. He said “prudent stewardship guides our (MURBS) actions, and every contribution invested to MURBS carries an expectation of future security.”
MURBS’ commitment to members is further checked in the scheme’s transition in sync with statutory regulations, and ensuring fairness and transparency for all. In line with this, Dr. Kizito discussed pro rata interest calculation methodology as the new trend for MURBS. Pro rata key features include; contributions earning interest from time of receipt, interest compounding and stopping at exit.
Demonstrating a clear focus on maximising member yields, Dr. Kizito also discussed operational expenditure saying even with an increase in the administrative costs, they have kept below the budgeted percentage.
Going past the balance sheets, Dr. Kizito echoed MURBS’ dedication to the over 3,000 active members building their dreams and the close to 5,000 retired members enjoying the fruits of their long service.
At the back of MURBS dedication, he recognised the ambassadorial framework that was designed to support incoming trustees and the proactive efforts to reach members.
As Dr. Kizito concluded, he expressed gratitude for support and reception from University Council, Management, URBRA Uganda, Trustees, Ambassadors and MURBS members.
He reiterated the scheme’s focus remains on innovation, governance, and growth which will continue to be achieved through digital transformation to improve service delivery and ensuring every member’s records are up to date.
All this is done in effort of ensuring that when the time comes for a member to retire, they do so with confidence and financial peace of mind.
MURBS Evolution From High Risk to a Benchmark Scheme
Ms. Daisy Lynda Nabakooza, Chief Manager Supervision and Market Conduct at Uganda Retirement Benefits Regulatory Authority (URBRA) recognised MURBS success saying it “comes from the good working relationship” between its trustees and experts, and that “the MURBS trustees usually have the information on hand,” which “is a plus.”
On the status/impression of the fund, Ms. Nabakooza revealed that ten or so years ago, when she had just joined URBRA, MURBS was one of those schemes that was “high risk” due to “unremitted contributions.” Thankfully, “the sponsor Makerere University has since embarked on having these unremitted contributions, remitted over a period of time.”
Now, “MURBS has become a benchmark for many schemes.” Ms. Nabakooza said as a regulator, they “really commend MURBS on the work done in terms of compliance.”
Ensuring a Dignified Retirement for Staff through MURBS
Professor Henry Alinaitwe, representing the Vice Chancellor emphasised the ultimate goal is the well-being of the university community during and after service. He referenced a local proverb, saying, “Buto n’ekorera bukuru,” explaining that “when we are here, and still young and working, what we are able to do and put aside will help us in the future.”
He expressed the University’s strong commitment to staff welfare, saying, “we do not want to see ourselves or fraternity really suffering when they are leaving university or when they have since left the university. We want to see people living well and prospering even in their retirement.”
Professor Alinaitwe acknowledged the work done by MURBS team in growing the scheme noting that since 2021, the fund has more than doubled raising from UGX 225 Billion to over UGX 500 Billion. The Vice Chancellor concluded his message by pledging Makerere University‘s good will to ensure sustenance of the fund for a dignified future of its staff.
The Chairperson of Council Dr. Lorna Magara in her message delivered by Hon. Daniel Fred Kidega expressed genuine satisfaction with the current trajectory of the retirement scheme, noting, “I want to congratulate the trustees, the management of MURBS, for maintaining a healthy organisation. When I was looking through the figures, I felt very happy.”
This financial health is not just a statistic but a foundation for the staff’s future. The Chairperson urged the leadership to “maintain the good health of the scheme and let members enjoy their savings.”
Beyond the numbers, the Chairperson Makerere University Council made a heartfelt plea to the board on human impact of the scheme, stating, “I plead with the board of trustees, to avoid delays when it involves the living families of members who are no longer there in service; dead or retired.”
Ultimately, as shared by Hon. Kidega and Professor Alinaitwe, the University vision is ambitious, it involves making MURBS one of the best retirement schemes on the continent and in the world where even those still in service can access resources and make their life better.
About MURBS
Makerere University Retirement Benefits Scheme (MURBS) is a mandatory employer scheme for Makerere University staff, established by the university under an irrevocable trust. On 23 April 2010, MURBS was registered as a corporate body under the Trustees Incorporation Act, CAP. 165, and it commenced operations on July 1 2010.
Following the enactment of the Uganda Retirement Benefits Regulatory Authority Act, 2011, MURBS was established as a voluntary occupational scheme under the new law. The scheme is licensed by URBRA (License Number RBS.0005).
On 21 June 2021, the Minister responsible for Finance, Planning and Economic Development exercised his powers under the law to approve MURBS as a superannuation scheme in the “Exempted Employment” category under the NSSF Act.
The two-week training programme aims to equip government officers with practical skills to assess project viability, manage investment risks and ensure public resources deliver value for money.
The Public Investment Management Centre of Excellence (PIM CoE) is strengthening the capacity of government officers to undertake financial appraisal and risk analysis of public investment projects through a two-week training programme designed to improve the quality of project preparation, appraisal and decision-making in Uganda.
The training, which started in Fort Portal on October 19, 2026, brought together participants from various government ministries, departments and agencies (MDAs), alongside facilitators from Makerere University, the Ministry of Finance, Planning and Economic Development, Cambridge Resources International (CRI), the National Planning Authority and the Uganda Development Bank.
Officially opening the training on behalf of the Permanent Secretary/Secretary to the Treasury, Ms Esther Ayebare, Acting Assistant Commissioner in the Project Analysis and Public Investment Department of the Ministry of Finance, Planning and Economic Development, emphasised the importance of rigorous project appraisal in strengthening Uganda’s public investment management system.
She noted that projects admitted into the public investment plan must be aligned with national priorities, technically sound, financially viable and capable of delivering value for money.
“Government must be able to compare investment alternatives and ensure that only viable projects proceed through the public investment process,” she emphasised.
Ms Ayebare explained that sound appraisal enables government to make informed investment decisions, maximise returns on public expenditure and ensure that limited public resources are directed towards projects with the greatest potential to deliver development outcomes.
Building practical skills for better investment decisions
The training builds on the Public Investment Management course conducted in June, which introduced participants to Uganda’s public investment management framework, including project conceptualisation, stakeholder analysis, project costing, implementation action plans, the Integrated Bank of Projects, and monitoring and evaluation of public investment reforms.
The current programme advances this foundation by equipping participants with technical competencies in financial appraisal, financial modelling and risk analysis.
Participants will explore integrated investment appraisal, alternative investment criteria, cash-flow statements, inflation and exchange-rate movements, asset valuation, project financing, project scale and timing, risk-sharing arrangements and cost-effectiveness analysis.
Through practical exercises and case studies, participants will apply these concepts to investment scenarios in sectors such as roads, health, education and water. The programme will also examine how climate change, social considerations and other risks can be integrated into project preparation and appraisal.
Ms Ayebare encouraged participants to engage actively with the facilitators, question the practical application of the tools and consider how the skills acquired could improve investment decisions within their respective institutions.
She also reminded participants that the programme includes an examination and that certification requires more than attendance. Participants are expected to demonstrate an understanding of the concepts and acquire practical skills that they can apply in their work.
Reducing dependence on externally prepared studies
A key objective of the training is to strengthen the ability of government institutions to undertake high-quality project appraisal studies using their own technical teams.
Ms Ayebare observed that many studies submitted to the Development Committee have traditionally been prepared by external consultants, often at considerable cost. Building the capacity of public officers to conduct these studies independently can help institutions strengthen their technical expertise and improve the quality of project proposals presented for consideration.
She urged participants to take full advantage of the facilitators’ expertise and return to their institutions equipped to undertake sound financial appraisals and provide evidence-based advice to decision-makers.
She further emphasised that project approval requires thorough preparation, analysis and justification, rather than simply identifying available funding and proposing a project to utilise it.
Strengthening public investment management through capacity development
In his remarks, Prof. Edward Bbaale, Director of the PIM CoE, thanked the Ministry of Finance for its financial support and for identifying participants from government institutions. He also recognised the contributions of the facilitators and partner institutions in delivering the programme.
Prof. Bbaale noted that the Centre’s work extends beyond training to include research and advisory services aimed at improving public investment management practices. He encouraged continued collaboration with government institutions and other partners to advance research, knowledge sharing and capacity development.
Speaking during the training, Dr John Sseruyange, Manager of the PIM CoE, highlighted the importance of commitment, active participation and punctuality throughout the programme. He encouraged participants to engage with the facilitators, ask questions and apply the knowledge gained to the projects they support.
Dr Sseruyange also acknowledged the Government of Uganda, through the Ministry of Finance, Planning and Economic Development, for financing the training, and appreciated Cambridge Resources International for its continued support towards improving public investment preparation and analysis in Uganda.
The training reflects ongoing efforts to strengthen Uganda’s public investment management system by equipping public officers with the knowledge and practical competencies needed to assess projects rigorously, identify potential risks and make informed investment decisions.
By developing in-house expertise across government institutions, the programme seeks to contribute to better-prepared projects, more efficient use of public resources and improved delivery of Uganda’s development priorities.
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