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.
By Moses Lutaaya
Makerere University has challenged newly admitted postgraduate diploma and master’s students to take ownership of their academic journey, produce knowledge that addresses Africa’s challenges and use their training to create opportunities for society.
The call was made on Tuesday, August 11, 2026, during the orientation of postgraduate diploma and master’s students held at the Main Hall, Main Building, Makerere University. The orientation was conducted under the theme “Harnessing the Power of Graduate Training to Transform Africa’s Research Trajectory.”
Addressing the students, Prof. Sarah Ssali, Deputy Vice Chancellor for Academic Affairs, said admission to postgraduate education marked an important transition from undergraduate study and should come with greater independence, critical thinking and responsibility.
“Postgraduate study is not just the accumulation of knowledge. You are now active researchers, critical thinkers and creators of your own knowledge,” Prof. Ssali said.
She said postgraduate training should enable students to deepen their expertise, strengthen their analytical abilities and develop solutions to real-world problems.
“Through your projects, dissertations, innovations and professional practice, you have the opportunity to contribute knowledge that can influence policies, improve services and transform lives. Your research matters, and your contribution matters,” she said.
Prof. Ssali urged students to see their studies beyond the pursuit of a degree, encouraging them to ask themselves why they had chosen postgraduate education and what contribution they intended to make to their communities and professions.
“See your coursework as an opportunity to develop knowledge and skills that will help you propose new solutions to real-world challenges,” she said.
She also encouraged students to embrace collaboration with communities and non-academic partners, saying many of them were already coming to the University with professional and community experiences that could enrich their research.
“Don’t think that your scholarship is only for those who look academic. Embrace community, embrace networks,” she said.
Prof. Ssali further cautioned the students against wasting time, noting that many postgraduate students have employment, family and other responsibilities alongside their studies.
“Make the most of your time and don’t waste it,” she said, urging students to use available study time productively even when there are changes in their lecture schedules.
She also emphasised the need for students to take responsibility for their progress instead of waiting for lecturers or supervisors to push them.
“Postgraduate education requires independence, independent inquiry, independent research, independent interrogation and also active participation,” Prof. Ssali said.
Prof. Julius Kikooma, Director of Graduate Training, told the students that their admission was a significant achievement given the large number of applicants seeking postgraduate opportunities at Makerere.
“We received over 12,000 applications to our postgraduate programmes, but we are only able to take just a small percentage of that. That means you are just the few people who are able to do this,” Prof. Kikooma said.
He urged the new students to appreciate the opportunity and understand that graduate education carries responsibilities beyond attending lectures and completing examinations.
According to Prof. Kikooma, Uganda and Africa require highly trained human capital capable of driving national and continental development priorities.
“The country needs more highly trained people if it is going to achieve its aspirations and priorities for national development,” he said.
He challenged the students to consider what Uganda and Africa would look like in the coming decades and to question whether the continent would continue relying on ideas, innovations and creations generated elsewhere.
“Will it still be a country that always depends on ideas, innovations and creations that come from outside?” he asked, before urging the students to become part of the generation that develops home-grown solutions.
Prof. Kikooma said much of what Uganda would need in the future would depend on what the country invests in today, particularly in human capital and research.
He also explained that the Directorate of Graduate Training works with colleges, schools, departments and central University units to strengthen the quality of graduate education.
“We want to make sure that what you are taking away from here is of a certain quality,” he said, adding that the University has established policies, standards and systems intended to create an environment in which postgraduate students can succeed.
However, Prof. Kikooma stressed that the University cannot take responsibility for the entire academic journey on behalf of students.
“We will not replace your programme. We will not replace your lecturers. We will not replace your supervisors. Each of those has a different role to play along your journey,” he said.
He encouraged students to be proactive by understanding their programmes, colleges and the various support services available to them.
“Successful graduates tend to be proactive rather than reactive. So don’t wait until you have a problem, then you start running from it,” Prof. Kikooma said.
He further urged the students to work within the stipulated programme period, noting that most master’s programmes take about two years while postgraduate diploma programmes generally take one year.
Prof. Robert Wamala, Director of Research, Innovations and Partnerships, urged the newly admitted students to use their graduate training to produce knowledge capable of addressing challenges facing their communities, Uganda and Africa.
He challenged them to move beyond consuming knowledge generated elsewhere and instead become producers of knowledge and solutions.
Prof. Wamala emphasised the importance of connecting research to society, innovation and professional practice, encouraging students to identify problems within their workplaces and communities that could become areas for meaningful research.
He said Africa needed researchers capable of generating evidence, innovations and practical solutions to support development rather than simply importing solutions from other parts of the world.
The Director encouraged the students to build collaborative networks during their studies and to regard the University as an ecosystem in which researchers, professionals, communities and other partners can work together.
Dr. Kizito Ongaya, Deputy University Librarian, introduced the students to Makerere’s extensive library and information resources, urging them to make the library a central part of their postgraduate studies.
He said the University Library operates a hybrid system combining physical collections with electronic resources.
“We have over 200,000 types of books in our library, with 45 e-journal databases,” Dr. Ongaya said.
He encouraged students to make use of the University’s electronic databases, noting that substantial resources are invested in providing access to scholarly journals.
“If you don’t use e-journals, you are unacceptable,” he told the students, emphasising that postgraduate research requires extensive engagement with scholarly literature.
Dr. Ongaya also highlighted the University’s archival collections, specialised libraries and information centres located across its colleges.
He said students would be guided on how to access both physical and electronic resources and encouraged them to explore specialised collections that could support their individual research areas.
Dr. Mike Barongo, Team Leader ICT, Department of the Academic Registrar, told the new students that Makerere had increasingly digitised its academic and administrative processes and urged them to complete their online registration as an immediate priority.
He said students could access their provisional admission letters through the online application system and use the student number provided to activate their student portals.
“The student portal is very, very critical,” Dr. Barongo said.
He explained that students must enrol and register in order to access key University services, including institutional email and Wi-Fi.
“Once you enroll, you create an institutional email address. That institutional email address is the gateway for you to access so many things, like Wi-Fi,” he said.
Dr. Barongo also informed students that ICT support centres were available to assist those experiencing challenges with enrolment, registration or access to digital services.
He urged students to ensure they enrol and register every semester so that the University systems can accurately capture their academic and financial information.
Others senior members in attendance include the Deputy University Bursar Mr. George Mugabi Turyamureeba and Mr. Henry Nsubuga, the Manager Makerere University Counselling and Guidance Centre.
By Moses Lutaaya
Makerere University has challenged its newly admitted PhD students to go beyond pursuing academic qualifications and become independent scholars capable of generating knowledge, solving societal problems and contributing to Africa’s transformation.
The call was made by the Deputy Vice Chancellor for Academic Affairs, Prof. Sarah Ssali, during the orientation of the 2026/2027 PhD cohort at Makerere University’s Main Hall in the Main Building on 10th August 2026.
Prof. Ssali told the new scholars that a PhD marks a fundamental shift from previous levels of education, requiring students to take greater responsibility for their academic progress rather than depending entirely on lecturers and supervisors.
“You will have to push yourself and also push your supervisor to move with you,” Prof. Ssali said, urging the students to take ownership of their doctoral journey.
She acknowledged that many PhD students have to balance their studies with employment, family responsibilities and community leadership, making doctoral training demanding. However, she urged them to remain focused on completing their programmes within the prescribed three, four or five years.
Prof. Ssali said Makerere expects its doctoral training to produce scholars who can create knowledge, challenge existing ideas and develop solutions to societal problems.
She encouraged the students to embrace ambiguity and become comfortable questioning what they already know, noting that doctoral education requires scholars to identify important questions, investigate them and generate answers that advance knowledge.
The Deputy Vice Chancellor also urged the students to develop interdisciplinary collaborations and scholarly networks rather than confining their research to their individual disciplines.
She said the success of doctoral education should not be measured merely by the number of dissertations completed or papers published, but by the extent to which research contributes to society.
With Africa facing complex challenges, including climate change, disease, population growth and development pressures, Prof. Ssali said PhD scholars have a responsibility to generate evidence that can influence policy, strengthen institutions and advance innovation.
She challenged each scholar to continually ask what problem their research addresses, what solution it advances and whether that solution can create sustainable value.
The Director of Graduate Training, Prof. Julius Kikooma, said the new cohort was joining Makerere at a time when the University is implementing reforms aimed at strengthening graduate education and improving completion rates.
Prof. Kikooma revealed that Makerere received close to 12,000 applications across its master’s, postgraduate and PhD programmes but admitted about 6,000 students.
He said graduate education has been placed at the centre of the University’s efforts to strengthen research capacity and prepare scholars to contribute to knowledge production and innovation.
Under the reforms, PhD students will undertake compulsory cross-cutting courses designed to provide foundational knowledge and skills for doctoral research. They will also be required to undertake teaching in either their second or third year under the guidance of their supervisors.
In addition to completing their theses, students will be required to produce at least two publications before graduation, a requirement intended to prepare them to become the next generation of researchers, innovators, inventors and creators.
Makerere has also introduced a digital system to monitor the progress of every PhD student each semester. The system is intended to enable students, supervisors and university officials to identify challenges early and intervene in real time.
Prof. Kikooma urged the scholars to write regularly, think critically, maintain open and constructive relationships with their supervisors and protect their academic integrity and professional reputation.
He also encouraged them to build scholarly networks and remain resilient, noting that rejected papers, disappointing data and unexpected challenges are normal aspects of doctoral training.
The Director of Research, Innovations and Partnerships, Prof. Robert Wamala, challenged the scholars to ensure that the knowledge they produce is trustworthy, responsible and ethically sound.
Prof. Wamala emphasized the importance of respecting the dignity, rights, safety and autonomy of research participants, particularly where studies involve individuals, communities and personal information.
He highlighted informed consent, privacy, confidentiality, justice and accountability as critical principles of ethical research and urged students to maintain transparency throughout the research process, from developing research questions and collecting data to analyzing and reporting findings.
Prof. Wamala also cautioned the students on the responsible use of artificial intelligence in research.
He said although AI can assist researchers with activities such as language improvement, it does not remove the researcher’s responsibility for the final product.
Researchers, he said, must verify AI-generated information and remain accountable for inaccurate statements, misleading interpretations and incorrect references.
He further urged students involved in international and other research collaborations to establish clear agreements on roles, authorship, data ownership, access and intellectual property before commencing their research.
The Deputy University Librarian, Dr. Kizito Ongaya, meanwhile, urged the new scholars to make full use of Makerere’s library and information resources throughout their doctoral journey.
Dr. Ongaya said the University operates a hybrid library system combining physical and electronic resources, with more than 200,000 books, 45 e-journal databases and over 16,000 archival materials available to researchers.
He encouraged the students to participate in library training to learn how to access and effectively use electronic resources and to explore specialized libraries and information centers across the University’s colleges.
These include resources covering natural sciences, agriculture, veterinary medicine, health sciences, education and humanities, as well as museums, botanical gardens, specialized collections and other research facilities.
The newly admitted doctoral students were also addressed by Mr. Henry Nsubuga, the Manager Makerere University Counselling and Guidance Centre, Mr. George Mugabi Turyamureeba, the Deputy University Bursar and members of Makerere University Convocation.
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