General
Mak Co-operative Society financial performance excites Members: More strategies proposed for continuous growth
Published
6 months agoon

On 26th February 2025, members of Makerere University Multi-Purpose Co-operative Society (MUMCS) convened for the Annual General Meeting (AGM) to discuss the Society’s financial performance, progress and future plans.
MUMCS has realised significant growth and financial stability, with a strong commitment to its members. The pay incentive bonus, remains at 14.5% of surplus returns until a future review. As the Society continues to grow and expand its services, it is expected to play an increasingly important role in promoting financial inclusion and economic development in Uganda.

MUMCS has 136 active members who are members of staff at Makerere University. MUMCS has a Board of Directors and Secretariat that works with the Investments Committee, Loans Committee, Finance Committee, Welfare Committee, and the Supervisory Committee.
The Chairperson of MUMCS, Prof. Barnabas Nawangwe welcomed the Members (physically present at Makerere University Main Hall and those who were following virtually via zoom) to the AGM. He encouraged the Members to continue saving and investing in the cooperative society.

To kick start the AGM, the Chairperson made reference to the Agenda, which had been shared ahead of time to the respective Members. The Agenda focused on critical issues such as achievements, dividend allocation, recruitment plans, loan repayment strategies, potential investment opportunities, among other items. Following the adoption of the agenda during the AGM, the Chairperson invited the Secretary- Prof. Tumps Winston Ireeta, and the Treasurer- Prof. Juma Kasozi to present to the AGM key highlights.
Prof. Kasozi confirmed that the performance of the society was satisfactory. The Treasurer’s report, highlighted the society’s significant progress in 2024. The society disbursed loans amounting to UGX 1 billion, while savings accrued amounted to UGX 1.8 billion, and share value stood at UGX 386 million. The society’s total assets available for investment are worth UGX 2.25 billion, with a return on investment of 12.95%. The AGM was informed that the Cooperative’s balance sheet exceeded UGX 2billion, a testament to its robust financial position.

Summary of the Key statistics:
- Total loans disbursed: UGX 1 billion
- Savings: UGX 1.8 billion
- Share value: UGX 386 million
- Total assets available for investment: UGX 2.25 billion
- Return on investment: 12.95%
- Unit trusts: UGX 801,127,970 (ICEA LION) and UGX 608,138,265 (UAP OLD MUTUAL)
- Surplus: UGX 166 million
- Dividends: The payment of dividends not exceeding 10% of the surplus.
The Auditor’s report was presented, confirming that the society’s financial statements provide a true and fair view of its financial position as of December 31, 2024. The Auditor commended the society’s management for their excellent work in managing the society’s finances.
“I commend the Board and Secretariat for having a well-managed and governed society. Your scheme is one of the best. We are glad that Makerere University Multi-Purpose Co-operative Society, the balance sheet is above UGX 2 billion,” CPA David Ssenoga said.

During the AGM, members proposed the following strategies to spur the continuous growth of MUMCS: Undertaking sensitization, publicity and mobilization drives/campaigns, development of publicity materials such as brochures, encouraging members to take loans, presenting proposals to reward bonus incentives to the highest savers and members with a significant number of shares, as well as providing financial incentives to members who take loans and repay them faithfully. In addition, the strategies stated in the MUMCS Strategic Plan will be implemented to ensure financial diversity and sustainability.
The Chairperson of the Supervisory Committee, Prof. Fredrick Jones Muyodi presented the committee’s report, highlighting the society’s compliance with the Co-operative Societies Act and the by-laws. Other Members of the Supervisory Committee include: Dr. Hamidah Nakato and Dr. Fred Edgar Nabutanyi. The Supervisory Committee reported that during its meetings, it reviewed various activities undertaken by the Board of Directors. They noted that since the AGM meeting held in February 2024, several achievements had been realized. These included the approval of new bylaws, a revised credit policy, and the establishment of the MUMCS office. The Supervisory Committee reported that 12 members joined MUMCS in 2024. The Committee appreciated Mr. Raymond Nsereko for developing the MUMCS logo and acknowledged Ms Ritah Namisango for coordinating the branding of the MUMCS office.

In their report, the Supervisory Committee presented the proposed candidates for consideration as Members of the Vetting Committee namely: Prof. Helen Nambalirwa Nkabala, Prof. Lawrence Mugisha and Dr. Alex Okello.
It was gratifying to note that the AGM unanimously agreed to have the Vetting Committee constituted as per the proposed names.
The Vetting Committee is expected to develop the Fit and Proper test for all applicants vying for the positions on the Board of Directors and the Supervisory Board, advertise the positions and administer the Fit and Proper test (written through Nomination Form and Oral), and present the successful applicants to MUMCS members for elections.

On behalf of the Welfare Committee, Ms Ritah Namisango applauded the Board and Secretariat for implementing the Welfare Policy. The Members of the Welfare Committee include: Michael Kasusse, Ritah Namisango and Oscar Mugula. She noted that with the implementation of the Welfare Policy, Members are in position to receive support towards Weddings, Medical obligations, and bereavement as per the terms and conditions specified in the policy. Noting that the society exists to advance the welfare of its members, she thanked the AGM for approving the proposed UGX 10million for such purposes.
The Board informed the AGM that in compliance with the rules and regulations that govern the sector, various policies including human resources, anti-money laundering, and procurement are being developed for MUMCS.
In his concluding remarks, the Chairperson of MUMCS, Prof. Nawangwe acknowledged the cooperative’s impressive financial returns, noting that it outperformed other savings schemes in terms of interest. He also urged members to avoid unnecessary withdrawals, emphasizing the long-term benefits of keeping their savings within the cooperative society. He commended the team responsible for the cooperative’s success, including the Secretariat and Fund managers.
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General
Mastercard Foundation Scholars at Makerere University encouraged to participate in philanthropy work
Published
22 hours agoon
September 10, 2025By
Mak Editor
By Carol Kasujja Adii and Bernard Buteera
Mastercard Foundation Scholars at Makerere University have been encouraged to embrace the spirit of philanthropy as a vital foundation for fostering stronger and more resilient communities. This inspiring call to action took place during the 2025 Community Open Day at the Freedom Square on Saturday, September 6, 2025, where hundreds of Mastercard Scholars, Scholar-alumni, and partners of the Scholars Program gathered to initiate a fundraising drive for the signature Annual Scholars Day of Service.
The Annual Scholars Day of Service stands as a hallmark event through which the Scholars give back to the community in impactful and sustainable ways. During a keynote address titled “How Philanthropy Shapes Resilient Communities,” Prof. Winston Tumps Ireeta, the Deputy Vice Chancellor of Finance and Administration, emphasised that while local philanthropy is not a new concept in Uganda, a more intentional mobilisation of this giving back power is necessary to address broader social challenges.
“Communities that mobilise their own resources—financial, human, and material—are empowered to take ownership of their development. Ownership naturally leads to sustainability, ensuring that solutions emerge from local knowledge, context, and values rather than being imposed from the outside. This approach is essential for effectively tackling our social challenges,” Prof. Ireeta stated.

In his remarks delivered by Prof. Helen Nambalirwa Nkabala, the Principal of the College of Humanities and Social Sciences, Prof. Ireeta highlighted the importance of nurturing the inherent power of local giving. He urged the celebration of current local philanthropic efforts, which can be initiated at the individual, religious, and community levels.
“To foster a culture of giving, we need to create platforms that promote structured, transparent, and impactful contributions,” he argued. “It’s crucial to strengthen our generosity, particularly among the youth, and cultivate a society where giving is valued as a core aspect of leadership and citizenship.”
Prof. Ireeta further noted, “The future of our Communities’ strength lies not in distant promises but in our own hands and collective actions. By fostering local philanthropy, we can build a society that is not only fairer but also more resilient and united.

In his welcoming remarks, Mr. John Osuna, Transition Lead for the Mastercard Foundation Scholars Program at Makerere University, who spoke on behalf of the Program Director, Prof. Justine Namaalwa, expressed gratitude to the Scholars for their collaborative efforts in turning the idea of giving back into reality.
“Let us embody humility, kindness, and compassion through actionable philanthropy. By doing so, we can create lasting impacts, enhancing our reputation as a community that genuinely cares,” Mr. Osuna stated.
The Community Open Day was organised under the inspiring theme: “Nurturing Philanthropy for Resilient Communities,” paving the way for future initiatives that strengthen community bonds through collective generosity.

“We believe that through nurturing philanthropy for resilient communities, our communities shall be able to organise themselves to build resilience beyond what we shall give back,” Mr. Osuna explained.
The vibrant event saw Scholars and Scholar-alumni actively participating by bringing items for auction and buying tickets for the raffle draw as a means of mobilising resources for the construction of a ventilated pit latrine, renovation of two classroom blocks and providing tanks for harvesting clean water for Bwera Primary School in Kabale District.
Speaking at the event, Mrs. Agnes Katumba, the Director of Katumba Estates, one of the long-standing partners of the Scholars Program at Makerere University, tasked the Scholars to embrace the heart of giving back without expecting something in return.

“I thank the Mastercard Foundation; they not only provide scholarships but also give back to the community. I have been able to grow because of them. For scholars, you do not have to wait to be wealthy to give back; every coin counts,” Mrs. Katumba said.
Katumba Estates Ltd contributed three million shillings to the Scholars Give Back project. Another long-standing partner, DFCU Bank, pledged over sh10 million towards the Scholars’ building project.

In her presentation, Ms. Malvin Akwara, a Mastercard Foundation Scholar-alumna, urged current Scholars to contribute to their communities in various ways, including mentorship and guiding young people.

“We are all here because someone chose to give. During my first year at Makerere, I contributed to some young man’s school fees back home in my community. The young man is now in his second year at Makerere. You don’t have to be wealthy to make an impact; be intentional in your giving, and you will witness the difference it makes. There is no greater fulfilment than helping someone in need,” Akwara stated.

The event was punctuated with a number of activities that ranged from auctioning items, raffle draws, exhibitions, quizzes and a lot of games and fun.

Carol Kasujja and Bernard Buteera form the communications team for the Scholars Programme at Makerere University.
General
First-Year Student’s Joining Instructions 2025/26
Published
7 days agoon
September 4, 2025By
Mak Editor
Dear Students; Class of 2025/2026
I am very delighted to welcome you to Makerere University. You are joining a Premier University and I hope you all are excited to start your new academic journey. We would like to first congratulate all of you for successfully overcoming the many challenges you have all faced, from completing high school to choosing a university and a study program and the extensive delays in the admission process you experienced.
As you are about to begin one of the most exciting times in your life, you should acknowledge and appreciate your efforts and achievements so far. I am aware that as a fresher, you are filled with hope and ambition, and I encourage you to take a moment to reflect on the road that has brought you here. I know that you have worked hard and overcome many obstacles
to reach this point. So, take a moment to savor this achievement and be proud of yourselves.
Now, as you step into the next phase of your lives, I want to remind you that this is a time of growth and exploration. You will face new challenges, make new friends, and gain experiences that will shape you into the person you will become. This is the time to embrace new opportunities, learn from your mistakes, and never stop growing.
I also want to emphasise the importance of hard work, determination, and resilience. These are the qualities that will help you overcome any obstacle and succeed in your endeavors. Remember to keep your focus on your goals and work towards them with determination.
I encourage you to approach your studies with a growth mindset. This means that you believe that your abilities can be developed through hard work and perseverance. Remember that failure is not the end, but rather an opportunity to learn and grow.
Professor Buyinza Mukadasi (PhD)
Academic Registrar
General
Transform Ivory Tower into Impact Tower – First-ever CEOs’ Summit
Published
1 week agoon
September 2, 2025By
Eve Nakyanzi
Makerere University, through the Makerere University Convocation (MUC), has hosted the first-ever CEOs/Investors’ Round Table Summit on Tuesday, 2nd September 2025. The historic event brought together alumni, Chief Executive Officers (CEOs), and stakeholders in a distinguished assembly aimed at re-imagining the university’s role in national and continental transformation.
The Convocation, which serves as a critical forum for foresight and life-transformational dialogue, unveiled five transformative points carefully crafted to transform Makerere from a symbolic “ivory tower” into an “impact tower” that influences the country and the world more than ever before.
Government Endorsement and Call to Action
The Chief Guest, Prime Minister Rt. Hon. Robinah Nabbanja, was represented at the event by the 3rd Deputy Prime Minister, Rt. Hon. Rukia Nakadama Isanga. She conveyed warm greetings from H.E. the President of Uganda, Gen. Yoweri Kaguta Museveni, and the Rt. Hon. Prime Minister.
She commended the Convocation for convening under the summit under a significant and timely theme: “Exploring the Opportunities for Entrepreneurship, Innovation and Value Creation for Accelerated Socio-Economic Integration and Development of Sub-Saharan Africa.”

She described the summit as not just a gathering but a journey and a call to action, urging academia, industry, and government to align efforts with Uganda’s and Africa’s transformation priorities.
Framing her remarks around the World Bank’s guiding principles—Trust, Humility, Inclusion, Collaboration, and Knowledge—she explained:
- “Trust must be built between government, academia, and business… the gathering reflects the trust in CEOs and investors to walk this journey together.”
- “Humility requires listening and learning, recognizing that no single institution has all the answers.”
- “Inclusion reminds us that no youth, woman, or marginalized group should be left behind in transformation.”
- “Collaboration is the currency of progress, necessary for solving complex challenges across sectors.”
- “Knowledge remains our greatest asset, with Makerere University demonstrating its importance in moving from ivory towers to communities to transform lives.”

She then unveiled a “massive transformation purpose”, commissioning five working teams led by CEOs and investors. The teams, nominated lead persons, and their respective objectives included:
- From Ivory Tower to Impact Tower – Dr. Patricia Ojangole (UDB) with Patrick Ayota (NSSF), translating research into market-ready innovations.
- Diaspora Dividend vs Brain Drain – Jennifer Bamuturaki (Uganda Airlines) with Michael Mugabi (Housing Finance Bank), harnessing diaspora capital, skills, and mentorship.
- Intergenerational Knowledge Bridges – Fabian Kasi (Centenary Bank) with Ajay Kumar (Quality Chemicals), institutionalizing mentorship and reverse mentorship.
- Climate and Infrastructure Leadership – Proscovia Nabbanja (UNOC) with Silver Mugisha (NWSC), anchoring research in energy security, green transition, and infrastructure.
- Pan-African Digital and AI Advantage – Sylvia Mulinge (MTN Uganda) with Mumba Kalifungwa (Stanbic Bank), positioning Makerere as Africa’s digital and AI hub.
She pledged full government support, noting that the teams would convene in the Office of the President. “This summit is not ceremonial but a covenant,” she stressed.
The Minister’s Reflection
Hon. Balaam Barugahara, State Minister for Gender, Labour and Social Development in charge of Children and Youth Affairs, emphasized that the summit was not a party but a process of transformation.

Drawing from personal experience, he recalled joining Makerere in 2000 and completing his degree in seven years due to balancing work, hustling for fees, and studying. He praised the university’s role in shaping his success and highlighted recent developments such as the renovation of Mary Stuart Hall and revamping the Main and Western gates, as milestones that have enhanced Makerere’s image. He equally applauded the curbing of staff and student unrest.
He noted that the summit aimed to facilitate networking, mentorship, career opportunities, and university development, signalling collective commitment to Uganda’s transformation.
Council’s Vision: A Legacy Re-imagined
Representing Makerere University Council Chairperson Ms. Lorna Magara, Prof. Sarah Ssali described the summit as a “historic alumni CEO investor round table” and a reaffirmation of Makerere’s role in Africa’s development. She described the university as a “cradle of leadership, innovation and resilience”, noting that the gathering’s objectives included fostering partnerships, showcasing research, launching a fundraising drive, and strengthening alumni engagement. Prof. Ssali emphasized that alumni relations must go beyond occasional financial contributions during events, to continuous communication and genuine relationships. “This summit marks the start of a journey, not just an isolated event,” she reechoed.

Vice Chancellor on Unlocking Makerere’s Potential
Reflecting on the theme of his bid for the Office of Vice Chancellor, “Unlocking the Potential of Makerere University,” Prof. Barnabas Nawangwe noted that while many only celebrate the absence of strikes, behind the calmness is a vibrant transformation.
He highlighted Makerere’s alumni strength, with over 20,000 CEOs globally, and underscored their contributions to Uganda’s economy, governance, health, sports, and research. “What would Uganda do without Makerere?” he pondered. Prof. Nawangwe quickly added that the moment was ripe for Makerere to collaborate more with diaspora alumni so as to tap into fast-evolving niches such as blockchain.

Convocation’s Strategic Role
MUC Chairperson CPA George Mugabi Turyamureeba outlined the Convocation’s mission to support the university’s growth and well-being. He highlighted innovations such as the Convocation House, the annual luncheon for first-class graduates and their parents, mentorship programs, and the MUC SACCO as initiatives that his team had established and promoted during the term so far. The Chairperson nevertheless urged the CEOs present to enable the Convocation have greater impact collaborating on existing as well as envisaged projects such as the Convocation Innovation Centre.

Adding her voice, Vice Chairperson Ms. Grace Cherotich Ruto urged participants—described as “movers and shakers” of Uganda’s economy—to ensure that their decisions today would be celebrated by future generations.

Keynote Address: The Journey’s Just Began
In his keynote, Dr. Peter Kimbowa, Founder and Board Chair of the CEO Summit and Makerere alumnus, congratulated his alma mater on the initiative and reaffirmed the Convocation’s strategic role.
He emphasized that the Round Table Summit should not be seen as a one-time event but as an ongoing journey, echoing American Football Player Jalen Hurts’ mantra: “There’s no arrival. Only the journey.” Dr. Kimbowa defined the Convocation as a community of leaders, alumni, and faculty united by heritage and vision. He described it as a bridge connecting:
- The past to the future,
- Business and industry to academia, and
- Learning to market needs.

He stressed that the Convocation’s ultimate goal was to transform Makerere into a self-sustaining engine of innovation, opportunity, and national transformation. Drawing on corporate insights, he challenged participants to always ask “what is the next opportunity?” and warned against complacency. He unpacked the massive transformation purpose structured around five working teams which MUC has developed, whereby corporate chief executives from Uganda are called upon to lead collaboration with the university. He highlighted the importance of mobilizing talent to connect with successful Ugandan alumni, underscoring the need for local CEOs to harness talent in the diaspora. He emphasized deliberate action, mobilization of global alumni talent, and collaboration between CEOs and the university to sustain transformation

Panel Discussions and Triple Helix Framework
The day’s panel discussion featured Mr. Samuel Mwogeza (Executive Director, Stanbic Bank), Mr. Peter Sibukule (Headmaster, Busoga College Mwiri), Mr. Clovice Bright Irumba (Petroleum Authority of Uganda), and Ms. Grace Cherotich.
Mr. Mwogeza stressed the need to commercialize university prototypes and ideas. He explained that banks like Stanbic use their networks to strengthen innovators’ business cases, preparing them for market entry. Mr. Sibukule on the other hand called for transformation of mindsets right from secondary school level so that students are well primed to communicate, collaborate, uphold integrity and good work attitudes over qualifications in the marketplace. Mr. Irumba highlighted efforts by the PAU to create more opportunities for Ugandan entities to get involved in the oil and gas sector thanks to gaps highlighted by a study undertaken by the Economic Policy Research Centre (EPRC). Ms. Cherotich on the other hand invited CEOs to take interest in research outputs of the Makerere University Research and Innovations Fund (Mak-RIF) and reassured the audience of the Convocation’s readiness to provide a trusted platform for engagement with industry.

Contributing to the day’s discussion, Prof. Eriabu Lugujjo, Executive Director of the Uganda Vice Chancellors’ Forum (UVF), reminded the audience of the “Triple Helix” model and it’s underlying policy frameworks that in the recent past guided collaboration between universities, government, and the private sector. He observed Uganda’s lack of a robust framework, and called for policies that tie tax incentives to university support by corporations and other business entities.

Proceedings
The inaugural edition of the summit was moderated by Dr. Tayeebwa William from the Department of Journalism and Communication who doubles as Managing Editor Makerere University Press and Dr. Viola Karungi from the Department of Performing Arts and Film (PAF).

The PAF team took charge of the leading the anthems and day’s entertainment, which included a poetic presentation of the Makerere University Anthem.
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