General
MURBS has declared 13.40% interest on members’ balances for the financial year that ended on 30th June 2024.
By: Ritah Namisango
Dr. Elizabeth Patricia Nansubuga, Chairperson of the Makerere University Retirement Benefits Scheme (MURBS) Board of Trustees, announced this milestone during the 14th Annual General Meeting (AGM) for the year 2023/24 held on Thursday, 24th October 2024, at Makerere University Main Campus, School of Public Health Auditorium.
The AGM attracted various stakeholders, including trustees, Audit Committee Chairperson CPA David Ssenoga, Board Evaluation Consultant Vincent Kaheeru, URBRA Representative Mark Lotukei, Audit Committee members, co-opted members, and university administrators.
Presenting the performance report, on behalf of the Board of Trustees, Dr. Nansubuga highlighted that this is the highest interest declared by the scheme in the past five years, and she anticipates continued improvements. She noted that for the previous financial year, which ended in June 2023, the Board of Trustees declared an interest an interest of 12.34%.
Dr Nansubuga also announced that the scheme has achieved a Net Investment Income of UGX 44.6 billion, far higher than the UGX34.4 billion collected in Contributions during the year.
The Chairperson of the Board also revealed that the fund value had grown from UGX352.4 billion recorded at the end of the last financial year to UGX409.2 billion, indicating an increase of 16.1%.
“By 30th June 2023, MURBS had a fund value of UGX 352.4 billion. The Board of Trustees targeted Fund growth of 17%, and I am glad to inform you, that the fund value of MURBS, as per the Audited Financial Statements of 30th June 2024 is UGX 409.2 billion, which is an increase of 16.1%. This achievement was made possible by strategic periodical activities undertaken by the Board and our fund managers, supported by the strong oversight committees of the Board,” she reported.
She attributed the positive growth to factors such as improved debt recovery, operational efficiency, timely remittance of contributions by the sponsor (Makerere University), an increase in project and contract contributions, and the recovery of UGX8.85 billion in debts.
Dr. Nansubuga also expressed gratitude to Makerere University, the scheme’s sponsor, for consistently remitting contributions, a key factor that has significantly contributed to MURBS’ smooth operation. “I am happy to announce that the sponsor-Makerere University remitted your retirement benefits for the financial year 2023/24,” she said.
In the same development, Dr. Nansubuga reported that MURBS registered a legal victory against Uganda Revenue Authority (URA) over a real estate investment in Sonde undertaken in 2019, and which URA sought to tax heavily. She notified the AGM that MURBS won the case and was awarded costs which also set a precedent.
“On behalf of the Board of Trustees, I am pleased to inform you that during the financial year, we received a favorable outcome on a key court case. How did we end up with this case? In 2019, MURBS invested in real estate, we bought land in Sonde,” Dr Nansubuga explained.
“Uganda Revenue Authority (URA) then charged us with a tax assessment worth UGX600 million. It has been four (4) years in the tax appeals tribunal. Since then, the lawyers, the former and current trustees, have been appearing before the appeals tribunal, but in December 2023, MURBS won the case. We challenged URA, and this case was awarded with costs. URA has to pay MURBS. We therefore saved UGX600 million,” she added.
In terms of governance, Dr Nansubuga said that the scheme made changes in the board. Initially, the trustees were six and they needed a seventh member, and following a competitive race, they recruited another trustee; CPA Edina Rugumayo who has over thirty years in accounting.
“In terms of governance, we continue to uphold good governance practices and we align with international standards. Last year during the presentation, I said we were six and we needed to have the seventh trustee because the Board composition is supposed to be seven,” she explained.
“So, following a competitive process, we recruited an independent trustee. It was a very competitive position. You must have served on board which has over UGX50 billion. So, from that process, we were able to recruit CPA Edna Rugumayo Simbwa. She is a certified public accountant with over thirty years of experience in accounting, taxation, and corporate governance,” she mentioned.
She also thanked other stakeholders for making sure that MURBS activities run smoothly. These entities include Makerere University, KPMG, Gen Africa, Arcadia Advocates, Zamara, URBRA, and Stanbic Bank among others.
While discussing investments, Dr. Nansubuga mentioned that 86% of MURBS’ funds are currently invested in government bonds, but added that the Board is exploring diversification to reduce risks.
“86% percent of our money is invested in government bonds, and sometimes, you do not have to put all your eggs in one basket, there is a high concentration of risk. so that is one of the key material risks that we want to address to reduce the amount we have in government securities. We want to diversify our portfolio and avoid investing heavily in government securities. The Board will venture into other fields in order to earn money or return on investment from the diverse undertakings,” she said.
In terms of membership, Dr. Nansubuga reported a 4.4% increase, with the number of members rising from 8,229 to 8,590. She attributed this growth to the reinstatement of in-house beneficiaries and an increase in project and contract staff.
Dr. Kakuba also thanked the sponsor-Makerere University for remitting the membership contributions timely which has helped the scheme to grow.
Dr. Godwin Kakuba -Secretary, MURBS Board of Trustees, who presented the record of the 13th Annual General Meeting stressed that the AGM climaxes a financial year and the Board of Trustee has been vigilant on this and has not missed any AGM for 14 years now.
“We applaud the sponsor because many of these positives in the chairperson’s report can only be attributed to the support by the sponsor through fulfilling the obligation of remitting members’ contributions to the scheme,” he added.
Partner Asad Ssenoga, an independent auditor who audited the scheme said that he was impressed with the level of compliance that the scheme exhibited in all aspects. He said they focused on ensuring that the member contributions are supported with statements and allocated to members appropriately.
“Overall we were satisfied with the work we did on the audit, the numbers that were presented by the Chairperson are the correct numbers that we audited. We were comfortable with those numbers, due process was followed during the audit,” he said.
Mr. Mark Lotukei who represented the CEO of Uganda Retirement Benefits Regulatory Authority (URBRA) thanked the Trustees for always prioritizing governance, which has helped them to reach several milestones.
“As URBRA, we look at governance as the biggest component of our compliance. MURBS Trustees from the former to the current, have taken governance as the most important aspect. We really encourage them to continue with this good practice because governance informs all the other aspects,” he said.
Mr. Arthur Kibira, a member in attendance, expressed his appreciation for the Board’s efforts. He urged them to explore higher-risk investments for potentially greater returns. He expressed concern over the scheme’s heavy reliance on government bonds.
“Dr Elizabeth Nansubuga, I want to congratulate you, and your team and also congratulate ourselves. But, I want to believe that there is room for improvement. I am one of those who do not believe that the sky is the limit, we are limited by our own thinking. I am thinking that high risks give high returns. Is there a way of managing those risks, so that we could push this 13.40% interest to a figure much higher? If we do so, we shall say we have learnt how to manage risks,”, he guided.
General
Mak and University of the West of England Sign MoU to Advance Research, Innovation and Skills Development
Makerere University and the University of the West of England (UWE) have signed a Memorandum of Understanding (MoU) aimed at strengthening collaboration in research, innovation, and enterprise development. The signing ceremony took place on Friday, 17th October 2025, in the Vice Chancellor’s Boardroom, Main Administration Building, Makerere University.
The partnership will focus on joint research initiatives in climate science, early childhood development and elderly care, wildlife ecology and conservation management, technology, and sustainable agriculture.
The Uganda High Commissioner to the United Kingdom, H.E. Nimisha Madhvani, who witnessed the signing, congratulated both institutions and reaffirmed the Government of Uganda’s commitment to strengthening international collaborations that enhance education, innovation, and investment.
“We are not only promoting education, but also tourism, business, and investment. This partnership is a great bridge between Uganda and the United Kingdom,” said H.E. Madhvani. “With the full support of His Excellency the President and the First Lady, we look forward to building on this momentum to establish impactful initiatives, including a proposed teaching hospital.”
Speaking during the event, the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe, reaffirmed the University’s commitment to producing graduates who are not only employable but also capable of creating jobs and transforming their communities.
“Our goal is to train students who go out to create their own jobs and employ others who have not had the opportunity to attend university,” said Prof. Nawangwe. “We are working seriously on issues of food security, health, and conflict management — particularly in the Great Lakes region, which has one of the highest numbers of conflicts per capita. Through research and collaboration, we aim to address these challenges while ensuring Africa is not left behind in the digital economy.”
Prof. Nawangwe also highlighted Makerere’s initiatives in the digital and peace sectors, including the work of the Rotary Peace Center, which plays a vital role in promoting peace across the world by equipping fellows with academic training, practice, and global networking opportunities through a year-long, blended-learning professional certificate program.
Representing the University of the West of England, the Vice Chancellor Ms. Jo Midgley commended Makerere University for its strong research focus and expressed enthusiasm for the partnership.
“Like Makerere, we are a comprehensive university. We want this partnership to go beyond conversations and translate into action,” she said. “Our areas of strength include sustainability, climate change, future technology, health, and community placemaking. We believe this collaboration offers a unique opportunity to co-create programmes that prepare students for the evolving global workforce.”
She further emphasized the need for universities to work closely with industry partners to co-design programs that meet current skill demands while promoting innovation and enterprise among students.
The Deputy High Commissioner, Ambassador Miriam Otengo, commended Makerere for its leadership in higher education and shared ongoing efforts to mobilize the Makerere alumni in the United Kingdom. She also revealed plans to host a Makerere Alumni Symposium in London, aimed at showcasing the University’s excellence and strengthening ties with its diaspora community.
Also in attendance was Mr. Hefin Rees KC, Chairman of Spotlight on Africa, a UK-based charitable organization, who expressed interest in partnering with Makerere University to establish a teaching hospital in Mbale focused on women and children’s health. He praised Makerere for producing world-class professionals and reaffirmed his organization’s commitment to supporting health-related initiatives.
In his closing remarks, Prof. Nawangwe thanked the High Commission for facilitating the partnership and welcomed the opportunity to discuss the proposed teaching hospital, describing it as “a timely and vital project for Uganda’s health sector.”
“This collaboration represents a new chapter for Makerere University and the University of the West of England. Together, we will advance research, promote innovation, and equip our students to respond to global challenges,” he said. The ceremony concluded with the formal signing of the MoU, marking the beginning of a long-term partnership built on shared values of excellence, innovation, and community impact.
The Acting (Ag.) Vice Chancellor, Prof. Sarah Ssali on Thursday 16th October, 2025 held a press conference to update members of the Media on the 2026 World University Rankings by Times Higher Education (THE).
The event held in the Vice Chancellor’s Boardroom, Main Building, was attended by the Director Graduate Training-Prof. Julius Kikooma, Director Quality Assurance-Dr. Cyprian Misinde, Dean of Students-Dr. Winifred Kabumbuli, Director Research, Innovations, and Partnerships-Prof. Robert Wamala, Deputy Chief – Public Relations-Ms. Eunice Rukundo, Ag. Manager International Relations-Mr. Matthias Ssemanda, and staff from the Offices of the Vice and Deputy Vice Chancellors.
The proceedings of the Press Conference follow below;
Vice Chancellor’s Press Statement
UNIVERSITY RANKINGS: MAKERERE STILL NUMBER ONE IN THE REGION
It gives me great pleasure to share with our stakeholders and the general public that Makerere University has been ranked Number 1. in the East African region, in the Times Higher Education rankings released this month of October 2025.
In its 2026 World University Rankings, Times Higher Education (THE) places Makerere University in top position in East Africa, and in the 801-1000 band globally. The ranking considers five performance indicators, namely: Teaching; Research environment; Research quality; International Outlook; and Industry. Makerere’s overall score was 37.2, significantly outperforming peer institutions in the Region that average scores of 18.8.
In particular, Makerere University continues to thrive in Research Quality where we scored 54.2% but even better in International Outlook where we scored highest with 69.7%. See Table 1 for details. On the continent, Makerere University ranked 8th in the 2024 Sub-Saharan African University Rankings.
We would like to reassure all stakeholders and well-wishers that Makerere University continues to hold steadfast as the regional leader in higher education. Our commitment to deliver excellence in our teaching, research, and socioeconomic impact has not wavered.
WE BUILD FOR THE FUTURE.
Thank you.
Fact Sheet
UNIVERSITY RANKINGS
Table 1: East African Universities – 2025 Ranking Comparison
| Rank | Name | Overall | Teaching | Research Env. | Research Quality | Industry | Int. Outlook |
| 801–1000 | Makerere University | 35.5–38.9 | 21.5 | 26.6 | 54.2 | 32.8 | 69.7 |
| 1501+ | Kenyatta University | 10.3–27.2 | 14.3 | 9.1 | 34.2 | 17.4 | 54.6 |
| 1501+ | Muhimbili University of Health and Allied Sciences | 10.3–27.2 | 21.6 | 14.9 | 30.3 | 27.5 | 54.6 |
| 1501+ | University of Dar es Salaam | 10.3–27.2 | 14.5 | 11.1 | 26.5 | 21.9 | 47.2 |
| 1501+ | University of Nairobi | 10.3–27.2 | 15.9 | 16.1 | 39.7 | 22.5 | 49.4 |
| 1501+ | University of Rwanda | 10.3–27.2 | 14.1 | 14.9 | 25.6 | 21.1 | 57.5 |
End
The Board of the Zambia Research and Education Network (ZAMREN) led by the Chairperson, Prof. Mundia Muya on 14th October 2025 paid a courtesy call on the Vice Chancellor, Makerere University. The Board which is on a two-day exposure visit to the Research and Education Network of Uganda (RENU) was received by the Acting (Ag.) Vice Chancellor and Deputy Vice Chancellor (Academic Affairs), Prof. Sarah Ssali in the Vice Chancellor’s Boardroom.
The Chairperson was accompanied by Mr. Ronald Hatoongo and Mr. Stein Mkandawire, the Board Secretary and CEO of ZAMREN respectively, as well as RENU’s CEO-Mr. Nicholas Mbonimpa and RENUMESH Technologies CEO-Mr. Brian Masiga. In attendance were Mr. Samuel Mugabi-Director DICTS, Prof. Robert Wamala-Director Research, Innovations and Partnerships (DRIP), and Prof. Tonny Oyana-Principal College of Computing and Information Sciences (CoCIS).
Also present were; Prof. Paul Birevu Muyinda-Director Institute of Open, Distance and eLearning (IODeL), Dr. Godfrey Mayende-Deputy Director IODeL, Dr. Michael Walimbwa- College of Education and External Studies (CEES), Dr. Cathy Mbidde- Ag. Manager. Makerere University Innovation Pod, Ms. Eunice Rukundo-Deputy Chief-Public Relations and staff from the Office of the Vice Chancellor.
In her welcome remarks, Prof. Ssali thanked the ZAMREN Board for including the courtesy call on their Kampala itinerary and extended warm greetings from the Vice Chancellor, Prof. Barnabas Nawangwe. She noted that Makerere as a founding member of RENU has enjoyed a mutually beneficial collaboration, that has benefited both staff and students in the form of supporting growing connectivity needs, as well as training, mentorship, and development of technical skills for both continuing students and graduates.
Turning to the gist of the courtesy call, the Acting Vice Chancellor noted that the Makerere University through the Centre for Artificial Intelligence (MAK-AI) seeks to harness the transformative power of AI to address society’s most pressing challenges. “Projects undertaken by our Centre tackle real-world challenges in health, agriculture, languages, and beyond.”
Prof. Ssali nevertheless underscored the importance of upholding ethics in all AI undertakings “Mindful of global trends elsewhere, the work of the Makerere AI Centre is guided by the principles of Responsible AI, ensuring that systems are transparent, accountable, fair, and designed to benefit society.”
She therefore called upon the delegation to thoughtfully engage with the ideas presented during their visit with the aim of collectively exploring both institution can better equip staff and students to meaningfully make the most of this fast-evolving trend.
On behalf of the Board, Prof. Muya who is substantively the Vice Chancellor of the University of Zambia thanked Prof. Ssali and Members of Management present for according his delegation a warm reception to Makerere University, “one of Africa’s most distinguished centres of higher learning.
“Makerere University is not only a symbol of academic excellence but also a beacon of leadership in higher education on the African continent”, remarked Prof. Muya.
The Chairperson equally expressed the delegation’s keenness to understand how AI is being adopted, and how the academia is embracing the technology as an enabler of teaching and research. “At ZAMREN, we view digital transformation and AI integration as critical enablers of academic excellence, efficiency, and competitiveness across higher education institutions,” he remarked, adding that “We therefore look to Makerere University’s experience to draw practical lessons that can inform and inspire our efforts back home.”
Turning to the lessons from Makerere in line with digital transformation and ICT, the Director DICTS shared that owing to the partnership with RENU, internet bandwidth, a vital enabler of AI transformation currently stands at 5 Gbps of monthly consumption, with plans to scale-up to 8 Gbps. He added that RENU has also facilitated Makerere’s access to Open Libraries, and Eduroam – a secure, encrypted Wi-Fi network across to staff and students freely access the internet across partner institutions in Uganda using their University emails.
Furthermore on the enablers of AI integration, Mr. Mugabi noted that in line with digitalization of institutional business process, the University Council took a bold step to develop all information systems in-house, a move that has reduced costs spent on offshore solutions, and hemorrhage of skills. He pointed to the introduction of open source solutions, and AI policy and global collaborations with corporations such as Google as additional enablers.
Addressing AI readiness, Prof. Tonny Oyana pointed out the need for the University of Zambia to start early, citing Makerere efforts which began as far back as 2007, when Dr. John Quinn joined the institution after his PhD. He added that Dr. Quinn together with other former staff from Makerere formed Sunbird AI, a thriving initiative creating practical systems for the benefit of community.
Prof. Oyana also pointed to AI initiatives that have attracted up to USD 5million from Google Awards, staff with specialized skills in the creation and development of sensor technologies, top notch students that win continental and global awards from companies such as Huawei, and active engagements with partners to produce solutions to enhance diagnosis of malaria, tuberculosis and cancer as some of areas that demonstrate Makerere’s AI readiness.
Addressing academic and research innovation, Prof. Robert Wamala pointed out that Makerere, in recognition that the institution cannot achieve its vision alone is intentional about seeking and nurturing mutually beneficial partnerships. Furthermore, he shared that Vice Chancellor’s Annual Research Excellence Awards reward and recognize the efforts of staff who have excelled in publication, teaching and winning grants.
The Director DRIP equally underscored the need for dissemination of research produced by staff and students, pointing out the annual research and innovation week as a flagship event for not only showcasing research but also forging meaningful partnerships with stakeholders. In line with technology transfer, Prof. Wamala said that the University through the Intellectual Property Management Office ensures that innovations developed by staff and students packaged for adoption by other individuals or organisations.
Addressing the use of technologies in academic work, Prof. Birevu noted that IODeL conducts capacity building in instructional design, online facilitation, use of AI in teaching and digital assessments. “We have also advised the University on ODeL and Distance Education strategies, for instance, we have developed a ten-year masterplan for distance education with support from the Korean Government to outline how Makerere University is going to integrate distance education within its offering” he added.
At the close of the deliberations the ZAMREN expressed sincere appreciation to the Ag. Vice Chancellor and Members of Management for the free sharing that pointed out a number of priorities.
-
General6 days agoCall for Applications: Government Sponsorship 2026/27
-
General2 weeks agoVice Chancellor Updates Media on DVC AA Appointment, Acquisitions, Research & Various Issues
-
General3 days agoMakerere is No.1 in the Region – THE University Rankings
-
General2 weeks agoStrengthening Collaboration between Makerere University and the University of Groningen
-
Computing & IS2 weeks agoICT Bootcamp for Vacists (P7, S4 & S6), Students & Professionals