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.
Education
Makerere University Charts New Future with the unveiling of the Open, Distance and E‑Learning Building and Strategic Plan
By Harriet Musinguzi, CEDAT
Makerere University has embarked on a transformative journey in higher education with the official launch of its Open, Distance and E‑Learning (ODeL) Strategic Plan and the laying of the foundation stone for a new ODeL facility at the College of Engineering, Design, Art and Technology (CEDAT). The event, attended by dignitaries, university leaders, and international partners, marked a milestone in Uganda’s quest to harness digital technology for accessible, innovative, and inclusive education.
Presiding over the ceremony, Ms. Jihee Ahn, Country Director of the Korea International Cooperation Agency (KOICA), underscored the spirit of collaboration that has defined the project. She praised the collective efforts of Korean partners, Makerere’s project management team, and the construction and consulting teams.
Quoting an African proverb, she reminded the audience that “a single stick cannot make fire”, emphasizing that the success of the initiative lies in shared purpose and unity. Drawing from Korean wisdom, she added, “a journey of a thousand miles begins with a single step,” noting that this launch is the first step toward positioning Makerere as a leader in open and distance education across Africa.
“This new building will not be just a physical structure but a driving force that advances our shared vision,” Ms. Ahn said. “KOICA looks forward to continued cooperation with Makerere University and all partners as we move forward together.” she added.
Representing the University Council Chairperson Dr. Lorna Magara, Dr. Silas Ngabirano highlighted the broader significance of the ODeL project. He described it as a turning point in bridging the gap between traditional teaching methods and modern learning needs. “This project is more than just providing technology,” he said. “It’s about enhancing capacity for our students, faculty, and staff. It’s about making education more accessible and affordable, fostering innovation, creativity, and lifelong learning.” He urged staff and students to embrace the opportunities offered by online distance learning, reaffirming the Council’s commitment to supporting initiatives that expand access to higher education.
The Vice Chancellor, Prof. Barnabas Nawangwe, represented by Deputy Vice Chancellor for Academic Affairs Prof. Sarah Ssali, emphasized that e‑learning is a central pillar in Makerere’s Strategic Plan (2026–2030). She noted that the initiative aligns with Uganda’s National Development Plan IV, which prioritizes digital transformation by 2030.
“ODeL provides opportunities for students inside and outside Uganda to engage in learning, access cutting-edge research, and participate in innovation and entrepreneurship,” he said. “Now that ODeL is getting a home, there is no excuse for not delivering.”
Prof. Nawangwe expressed gratitude to KOICA and the people of Korea for the US$12.2 milliongrant, describing it as a testament to Makerere’s reputation as a center of academic excellence and innovation. He also acknowledged the support of Uganda’s Ministry of Education and Sports and the Ministry of Finance, Planning and Economic Development.
The Principal Investigator, Prof. Henry Alinaitwe, outlined three core components of the project: the development of the ODeL Masterplan, the enhancement of e‑learning infrastructure through a state‑of‑the‑art facility and modern equipment, and capacity building to equip staff with the skills needed to create high‑quality digital content. He explained that the construction, valued at USD 3.7 million, is being undertaken by SMS Construction Ltd, with designs developed by ArchForum Consultants Ltd, and is scheduled for completion by September 29, 2027.
Prof. Henry Alinaitwe explained that the ODeL Masterplan was developed through a highly consultative process, engaging numerous Makerere University staff and working closely with project consultants to ensure inclusivity and relevance. He expressed deep appreciation to the implementing partners, the Korea National Open University (KNOU) and the Korea Institute ofDevelopment Strategy (KDS) for their invaluable support in making the initiative a success.
Prof. Alinaitwe also commended the Makerere University Council for approving the allocation of space and committing to maintain the building and systems once operational. He recognized the dedication of the project implementation team, which includes Dr. Venny Nakazibwe(Co‑PI), Prof. Paul Muyinda, Dr. Godfrey Mayende, Mr. Samuel Mugabi, Mr. Alex Mwebaze, Dr. Kenneth Ssemwogerere, and Dr. Lydia Mazzi Ndandiko, for their tireless efforts in managing the project. He further acknowledged KOICA Country Director Ms. Jihee Ahn for expanding the scope of the project beyond the College of Engineering, Design, Art and Technology (CEDAT) to encompass
Written by Musinguzi Harriet, Principal Communication Officer, College of Engineering, Design, Art and Technology.
Students from the College of Humanities and Social Sciences on Tuesday 17th March 2026 walked away with Shs 3million after emerging winners of the 2026 Annual Safeguarding Message Contest grand finale.
During the grand finale held in the Main Hall, five finalists from the College of Humanities and Social Sciences (CHUSS), College of Education and External Studies (CEES) and the College of Veterinary Medicine, Animal Resources and Bio-security (CoVAB), captivated the audience with their powerful safety and inclusion messages. The show was filled with joy.
The finalists took part in a series of activities such as a collaborative video, written poems and arts works, among others.
Speaking on behalf of the winning team, Allan Mugisha, a third-year Bachelor of Arts in Social Sciences student, explained that their video aimed to highlight everyday safeguarding issues that are often overlooked.
“Creating this video was both a collaborative effort and a challenge, especially since we used our phones to record. But our goal was to show the public that safeguarding is not just a policy or a University requirement, it is about protecting our dignity, safety, and wellbeing here at Makerere University. We depicted some of the risks and incidents students may face, and importantly, highlighted who to approach when encountering such challenges,” Mugisha, who also serves as a student safeguarding champion, said.
Mugisha thanked the Mastercard Foundation Scholars Program for giving students like him and his colleagues an opportunity to actively engage, noting that it has made them feel empowered rather than dormant.
Khamala Elphas Makokha, a master’s student in Peace and Conflict Resolution, who produced a poster about safeguarding claimed the 1st runner-up position, earning Shs 2million and Mildred Aine Nicks, a first -year student pursuing Early Childhood Care and Education was 2nd runner-up with her spoken poem.
In the popular award, Khamala clinched the top spot with a prize of sh500,000.
Makerere University has an obligation and has committed to continue providing a Safe and Supportive learning and working environment for all Students, Staff and other Stakeholders. Therefore, the Annual Safeguarding message is a celebration that brings together students to come up with a message that will be identified as the Institutional main message.
The potential safeguarding risks in Institutions of higher learning include emotional distress, Sexual Exploitation, Abuse and Harassment (SEAH); material loss, financial exploitation, discrimination and neglect, unfair and illegitimate response to civic engagements, cyber security/threats, psychological and emotional harm, substance abuse, and physical assault.
The guest of honour and the Vice Chancellor of Makerere University, Prof Barnabas Nawangwe, congratulated the winners and noted that the University is very intentional about ensuring that students are safe at all times because people achieve their full potential in any endeavor when they feel safe.
“Over the years, we have put in place various policies to safeguard our students. In addition to the Safeguarding policy, we have the Anti sexual harassment policy and the policy to support Students with Disabilities. Every student should know these policies so as to know the steps to take in case they feel threatened,” Prof Nawangwe, said.
In her welcoming remarks, the Dean of Students thanked the students who took time to participate when they saw the Safeguarding Awareness message call in September 2025, noting that their enthusiasm and commitment reflect a shared responsibility to promote safety, dignity, and wellbeing across the university community.
“Your creativity, commitment and passion for promoting safety and wellbeing are truly commendable,” Dr Winnie Kabumbuli, the Dean of students, said.
Addressing guests, Prof Justine Namaalwa, the Co-ordinator of the Mastercard Foundation Initiatives at Makerere University, explained to the audience why the Mastercard Foundation has supported the University to Improve the learning and working environment to make it safe for everyone.
Prof Namaalwa described the Safeguarding Annual contest as an inclusive and interactive platform that brings together students, to amplify voices, showcase creative messages, and strengthen commitment to a safe and supportive environment for all.
“The safeguarding initiative although student-led has not only student but also staff champions. Through the Office of the Vice Chancellor, we commit to continue supporting the Annual Safeguarding contest every year till 2032,” Prof Namaalwa, said.
On behalf of the 6 panel of judges, Dr Viola Karungi, a senior lecturer at the department of Performing Arts and Film, explained that they received 22 entries compromising of seven written poems, three posters, two songs, eight short videos, one slogan, and one comic book.
“We assessed submissions based on five key criteria, including originality and creativity. During the review, we found that some entries contained or replicated existing work, which was verified using digital tools by one of our panelists.” Dr Karungi, said.
Other winners included Job Diryo, a 5th year student of Veterinary Medicine who performed a poem and Abraham Tumwine who presented a poster.
The grounds of Makerere University came alive with energy and ambition as students, graduates, and industry leaders gathered for the 2026 Makerere Careers Fair, an engagement that continues to cement the University’s role as a bridge between academic training and the realities of the modern workplace.
Held in partnership with the National Social Security Fund (NSSF) as part of the wider NSSF Career Expo, and the US-Mission Uganda, the three-day event created a vibrant space where conversations about careers moved beyond theory into lived, practical experience. The Yusuf Lule, Central Teaching Facility, Auditorium, the Freedom Square and exhibition spaces transformed into arenas of exchange, where students interacted directly with employers, asked difficult questions about their futures, and began to map out their professional journeys with greater clarity.
At the heart of this year’s engagement on day one, 11th March, 2026, was a theme that resonated deeply with a generation stepping into uncertainty: “Man or Machine: Exploring AI’s Impact on Careers.” Across panel discussions and keynote sessions, speakers challenged students to confront the realities of a rapidly shifting job market. The message was consistent: technology is not simply displacing jobs; it is reshaping them, demanding a workforce that is adaptable, digitally fluent, and grounded in distinctly human skills such as creativity, critical thinking, and emotional intelligence.
Day Two, 12th March, 2026, led by the United States Mission to Uganda, shifted the focus to global opportunities, equipping students with practical guidance on U.S. university applications, scholarships, and visa processes, as well as fully funded fellowships they can apply for. Through direct engagement with credible experts, students gained clarity on navigating international academic pathways and positioning themselves competitively beyond national borders, expanding the Careers Fair’s scope from local employability to global mobility.
The final day, 13th March 2026, under the theme “Connecting potential to purpose: Partnerships for sustainable impact,” brought together Makerere University and key partners, including Stanbic Bank, Absa Bank Uganda, TotalEnergies Uganda, the Uganda Police, Pslams Food Industries, among others, to emphasise collaboration as the cornerstone of career readiness. The conversations underscored a shared commitment to aligning education with industry needs, demonstrating that sustainable career pathways are built through strong partnerships that connect talent to opportunity in a rapidly evolving world.
What stood out most was not just the content of these conversations, but the way students engaged with them. There was a palpable sense of curiosity and urgency, as young people sought to understand where they fit in a future increasingly defined by automation and innovation. For many, the Careers Fair became more than an event; it was a bridge to internship and graduate trainee opportunities, and to careers whose balls were set rolling. It was a moment of reckoning and possibility.
This transformation was made possible through a strong network of partners whose presence underscored the importance of collaboration in shaping career pathways. NSSF Uganda anchored the engagement with insights into financial planning and long-term security, reframing how young professionals think about work beyond immediate income. Stanbic Bank Uganda brought industry perspective, offering students a clearer understanding of the competencies required to thrive in the financial sector. The United States Mission to Uganda contributed to broadening horizons through knowledge exchange and exposure to global opportunities, while TotalEnergies Uganda highlighted the evolving energy sector landscape and the role of innovation in driving sustainability, among other players.
Together, these partners did more than exhibit; they participated in shaping a narrative about the future of work that is inclusive, dynamic, and grounded in real-world demands.
For Makerere University, the Careers Fair represents more than an annual engagement; it is a reflection of its enduring commitment to preparing students for life beyond the lecture room. By convening diverse actors from academia, industry, and development spaces, the University continues to position itself as a national hub for talent development and thought leadership. It is within these spaces that education becomes truly transformative, where knowledge meets opportunity, and where ambition is matched with access.
Advancing Partnerships for Sustainable Impact
The Careers Fair also speaks directly to Makerere University’s Advancement agenda, which is increasingly focused on building purposeful, long-term partnerships that extend the University’s impact beyond its campus.
Through such engagements, Makerere is intentionally cultivating relationships that create shared value. The presence of industry leaders and development partners is not incidental; it is part of a deliberate strategy to align academic training with market realities while opening up pathways for mentorship, internships, and employment. These collaborations are gradually shaping an ecosystem in which students are not only educated but also actively supported in their transition into the workforce.
What emerges is a model of engagement that moves beyond transactional interactions to something far more meaningful. Partners are not just sponsors or participants; they are co-creators in preparing the next generation of professionals. In turn, Makerere strengthens its position as a trusted partner, one capable of convening, connecting, and contributing to national and global development priorities.
As conversations from the Careers Fair continue to echo across campus, one thing remains clear: the future of work will belong to those prepared to evolve with it. Makerere University, through platforms such as this, is ensuring that its students are not merely observers of change but active participants in shaping it.
Caroline Kainomugisha is the Communications Officer, Advancement Office, Makerere University.
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